Rare Soviet stamp makes $29,000 at New York auction

One of the rarest Soviet stamps sold for $29,000 on the second day of a major New York stamp auction

A rare Soviet 1927 surcharged 8 Kop on 7k chocolate was the highlight on the second day (April 26) of a major stamp auction in New York.

Among the rarest of Soviet stamps, the never hinged and "post office fresh" specimen, featuring natural gum wrinkles, and said to be in very fine condition, sold for $18,000.

A Canada 1959 5c red and blue St Lawrence Seaway error, featuring an inverted centre, also excited collectors, selling for $8,000.

The rare item was in very fine condition and well centered.

Meanwhile a large collection of Guatemala philatelicitems from 1871-1940 sold for $29,000.

The auction also featured a strong selection of British stamps.

An 1882 5 orange with "Kings Lynn" cancel, valued at $2,500, just surpassed its estimate, selling for $2,600.

Investment grade British stamps have shown strong historical gains.

According to the GB30 Rarities Index, the 30 most desirable classic stamps from Great Britain have recorded a 10.78% pa increase in value since 1998.

Click here to view our selection of British stamps, handpicked especially for your collection.

Paul Fraser Collectibles has a strong slection of stamps, including this rare Tyrian Plum

A 1992 29c green and black Stock Exchange Bicentennial block of four error was the star of day one of the auction.

The centre inverted, right sheet margin block of four achieved $57,500. It was just one of 56 examples of the error in existence.

Paul Fraser Collectibles will continue to bring you all the latest from the world of philately, so make sure you check in with us on a regular basis.