Stamp of Approval
Once a childhood hobby, stamp collecting is a serious investment option and the focus of a legion of wealthy philatelists. Possibly the most expensive bit of paper in the world right now is the 1856 British Guiana One- Cent Magenta stamp, which broke the world record for the price paid for a stamp at auction when it sold for US$9.5 million at Sotheby’s New York in June. That’s a big jump on the previous record, a paltry US$2.3 million paid in 1996 for a Swedish stamp called the Treskilling Yellow. The Magenta, bought by an anonymous telephone bidder, originally cost one cent. Talk about capital appreciation!