An 1891 1d stamp commanded the highest bids in yesterday's (October 23) auction of the Fordwater Collection of Falkland Islands and Dependencies, Gibraltar and Malta.

The London auction saw the one penny sell as top lot, achieving a final realisation of £4,500 ($7,204). The rare stamp exceeded its catalogue value of £4,250 by 5.8%.

An unsevered pair of 1/2d surcharges made this the top lot of the sale

The 1d stamp, which is something of a rarity in itself being the very first issued on the Falkland Islands, featured an "unsevered pair" of neat ½d surcharge overprints, which further increased its appeal to collectors. It was sold in unused condition with a large part of its original gum still intact.

An extremely rare example featuring the South Georgia overprint

Following closely behind was the 1944 ½d black and green, which featured the South Georgia dependency overprint. The stunning marginal example, which also featured a sideways variety watermark, is extremely rare and was sold in fresh, unused mint condition. It brought £3,500 ($5,607).

The 1889 issue was printed in centimos for a number of years

Highlighting the Gibraltar section of the sale was the 1889-1896 issue 10c carmine stamp, which had its value omitted in error. The stamps of Gibraltar were originally printed with British values, but as of 1889 they were overprinted with centimos until British currency came into use again in 1898. A very rare and attractive example arising from the confusion the change in currency caused, it sold for £3,800 ($6,091).

Paul Fraser Collectibles has a fantastic selection of rare British and commonwealth stamps currently available, highlighted by the stunning Black Empress - a unique stamp that has earned its very own title.