Rarest Stamp in the World May Sell for a Record $20 Million

A rare stamp from British Guiana is expected to break world records when it is sold as part of an auction of the estate of a multi-millionaire and convicted murderer on Tuesday.

The "world's most famous stamp," according to Sotheby's in New York City, is expected to go for between $10 and $20 million, making it the most valuable object of its size in the world.

The postmaster of British Guiana produced the stamp, which measures at 1" x 1.25", in 1856 as part of a contingency supply while he awaited a shipment of stamps from Great Britain. He created two varieties of stamps: Four-cent stamps and one-cent stamps. While several four-cent stamps from this supply still exist, the stamp to be auctioned on Tuesday is thought to be the only one-cent stamp in existence from that batch. It was rediscovered in a collection by a 12-year-old boy in 1873, then sold it to numerous collectors over the years. It accrued in value until the infamous John Eleuthère du Pont bought it for $935,000 in 1980.  Read more...