Tuesday, February 13, 2018

Thank You, Janet Yellen: Bill Gross to Sell Rare U.S. Stamp Collection for More Than $9 Million


Bill Gross, the legendary bond manager, is parting with one of his most-prized investments: His collection of rare U.S. stamps, reports The Wall Street Journal.

Scott Trepel, Siegel Auction Galleries ’s president, expects that initial sale to raise more than $9.1 million, breaking the record—also held by Mr. Gross—as the biggest single-day stamp auction. He had sold his British collection for that price in 2007.

“The first sale is about 150 items, and they are the greatest hits of American stamp collection,” Mr. Trepel said. “When you add it all up, it comfortably breaks the record.”

Among the most prized: a unique block of 24-cent stamps from 1869 that feature an inverted image at their center, that is valued at $750,000 to $1 million, and the 2-cent “Blue Hawaiian Missionary” stamp—issued in 1851, before Hawaii became a U.S. state. The stamp is now valued at up to $750,000.

Gross knows the end is near but I believe his timing is off. Price inflation appears ready to accelerate, which would also boost the value of his collection.

-RW

1 comment:

  1. "Price inflation appears ready to accelerate, which would also boost the value of his collection."

    More dollar units does increase the price of the collection or any other object of value but it does not increase its value which remains unchanged absent other factors.

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