One of just three examples of a remarkable rarity from the Japanese occupation period in British Malaya (modern day Malaysia) is coming to an Australian stamp auction on May 23.
The 1942 $500 purple and orange features a red oval Okugawa seal and a "DAI NIPPON/STAMP OFFICE PENANG" date stamp.
The auction house states that it is the greatest rarity of the Japanese occupation period.
It is accompanied by a 2011 BPA photo certificate and comes to the Sydney auction with a A$45,000 ($46,350) estimate.
Japan invaded British Malaya in December 1941, just hours before the attack on Pearl Harbour. The Allied forces would not regain control of the region until 1945.
The sale will also feature a rare Australian block of four King George V 5d. Believed to have been produced on paper left over from the 1d 1918 printing, the bright chestnut rough paper, single-line perforate block is the largest known multiple of this stamp.
"This is one of the most important multiples of the King George V series and of equal rarity to the ½d green King George V single-line perforate blocks of four that sold for $69,975 in the 2005 Gawaine Baillie auction," the auction house states.
It will appear at the sale with a A$30,000 ($30,900) valuation.
Our sister company PFC Auctions' online sale runs until May 24. It features these four superb investment-grade gems of philately.
Paul Fraser Collectibles continues to bring all the latest news from the world of rare postage stamps so make sure you check in regularly.