1880 5-cent special printing highlights auction at $350,000
The finest recorded example of the 1880 5-cent special printing starred on June 26
Paul Fraser Collectibles, Wednesday 27 June 2012
A New York stamp sale was highlighted by the sale of the finest known example of the 1880 5-cent special printing on June 26.
The magnificent stamp brought the biggest draw of the philately on offer, while a rare copy of Abraham Lincoln's Emancipation Proclamation stole the show, after realising $2m.
The 1880 stamp is one of the most elusive American Bank Note Company special printings, with only 18 recorded examples currently in existence.
About a third of these have faults, with the example at auction boasting the widest margins and best condition of the remaining 12. Featuring the head of the United States' 12th president, Zachary Taylor, in a deep shade of blue, the stamp sold exactly on estimate at $350,000.
The 1880 special printing was first issued after the Continental Bank Note Company was acquired by the American Bank Note Company in 1879. Taking up the former company's contract, the American Bank Note Company subsequently printed similar designs on softer paper with a variety of colour changes. The limited supply of these altered stamps resulted in them becoming a coveted item for US philatelists.
A further auction highlight was provided by an extremely rare example of an Alexandria, VA postmaster provisional stamping, one of just six known specimens. It sold for $290,000, falling just short of its $300,000 high estimate.
Read more about this fascinating stamp here, with Paul Fraser Collectibles' preview of the sale.
Here at Paul Fraser Collectibles, we are passionate about stamp collecting. Using our experts' combined 250 years of experience we have sourced a stunning range of investment-grade rarities, highlighted by this unique and fine example of the greatest stamp in Canadian philately.
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Images: Robert A. Seigel Auctions