£2m for Penny Black given away to charity

A rare collection of British stamps owned by a Wall Street bond trader is expected to fetch up to £2 million for charity when it goes to auction next month.

Examples of the world's first adhesive stamps, the Penny Black and Two Penny Blue depicting a young Queen Victoria, are the centrepiece of a package going on sale in New York on June 11.

One of the highlights of the sale is the largest known block of mint condition Penny Black stamps in private hands. The 18 stamps in the block are expected to sell for between £200,000 and £250,000.

Potential bidders will be able to view the collection at Brown's Hotel in Mayfair, next Monday and Tuesday.

The seller, Bill Gross, of Laguna Beach, California, is to offer all proceeds to the non-profit humanitarian organisation, Medecins San Frontieres, in what will be the largest donation received by the body in the US.

Source: Telegraph
Image: Xinhua
Tags: Stamp | Charity | Auction