Monday, November 24, 2008

Smart Investing

While the financial markets may be down, the market for rare stamps seems to be red hot. For it's weight and size this stamp could be one of the most valuable commodities in the world.

No, that's not me, Benny, but George Washington pictured on the front. It has grills that consist of small square pyramids in parallel rows, impressed or embossed on the stamp. The object of the process is to break the fibers of the paper so that the ink from the cancellation would soak into the paper and make washing for reuse impossible. There were several stamps that look similar to this but had different grill patterns. Only the "B" grill are so valued - there are only four known copies of it still in existance.

Issued in 1868, the 3 cent stamp recently sold for $1,035,000 at an auction to an anonymous buyer who bid over the telephone.

With a current book value of only $250,000 this was a good inflationary hedge for the previous owner!

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