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The Onecent Magenta: Inside The Quest To Own The Most Valuable Stamp In The World
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An inside look at the obsessive, secretive, and often bizarre world of highprofile stamp collecting, told through the journey of the worlds most soughtafter stamp.When it was issued in 1856, it cost a penny. In 2014, this tiny square of faded red paper sold at Sothebys for nearly $9.5 million, the largest amount ever paid for a postage stamp at auction. Through the stories of the eccentric characters who have bought, owned, and sold the onecent magenta in the years in between, James Barron delivers a fascinating tale of global history and immense wealth, and of the human desire to collect.Onecent magentas were provisional stamps, printed quickly in what was then British Guiana when a shipment of official stamps from London did not arrive. They were intended for periodicals, and most were thrown out with the newspapers. But one stamp survived. The singular onecent magenta has had only nine owners since a twelveyearold boy discovered it in 1873 as he sorted through papers in his uncles house. He soon sold it for what would be $17 today. (Thats been called the worst stamp deal in history.) Among later owners was a fabulously wealthy Frenchman who hid the stamp from almost everyone (even King George V of England couldnt get a peek); a businessman who traveled with the stamp in a briefcase he handcuffed to his wrist; and John E. du Pont, an heir to the chemical fortune, who died while serving a thirtyyear sentence for the murder of Olympic wrestler Dave Schultz.Recommended for fans of Nicholas A. Basbanes, Susan Orlean, and Simon Winchester, The OneCent Magenta explores the intersection of obsessive pursuits and great affluence and asks why we want most what is most rare.
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