Stock Exchange Bicentennial error block makes $57,500 at stamp sale
A 1992 29c Stock Exchange Bicentennial error block of four was the star on day one of the NY sale
Paul Fraser Collectibles, Thursday 26 April 2012
A 1992 29c green and black Stock Exchange Bicentennial block of four error was the highlight on the first day (April 25) of a stamp auction in New York.
The centre inverted, right sheet margin block of four achieved $57,500, and follows a $71,875 auction of the only other remaining block in September 2011.
Just 56 examples of this modern error are known, making it rarer than the more celebrated CIA invert and Inverted Jenny errors. The strong result is confirmation of the power of modern stamps to capture the imagination of collectors.
A 1909 1c dark green and black United States Possessions Canal Zone error also excelled. The used example of this most famous of Canal Zone errors, featuring an inverted centre, is one of just four known to exist.
The example was the last of the four to be discovered, having been unearthed in 1979 and is "by far the best centered of the four existing", according to the auction house.
It sold for $18,500.
A US 1870 90c carmine block of four also performed well at the auction.
Described as "well centered" with "beautiful color", and including its original gum, the banknote issue block of four, said to be in fine to very fine condition, sold for $11,500.
"A fresh and spectacular block, surely one of the finest known," the auction house said prior to the sale.
The sale also featured an 1883 2c red brown sheet of 100, which sold for $7,000, while an 1883 90c purple block of 40 made $4,000.
A well-centered 1893 $1 salmon block of four achieved $7,000.
Several British stamps will feature prominently on the second day of the auction, including an 1882 £5 orange with "Kings Lynn" cancel, estimated at $2,500. We will bring you all the news here.
We have a number of investment-grade British postage stamps available, including a rare 1910 Prussian Blue.
Recent and related articles
· Marvin Schiller US Postal Stationery collection stars rare Centennial Printing | 27 February 2012
· Inverted Pictorial Issue stamp could bring $20,000 at New York auction of US stamps | 25 February 2012
· Two Pence Blue stamp block from the Chartwell collection delivers $660,000 | 17 February 2012
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Images: Cherrystone Auctions