An extremely rare South American postage stamp may sell for as much as $10 million at an auction, according to The Spec.com, Feb. 14, 2014. The auction, which will be held in New York City on June 17, could bring in between $10 and $20 million. The stamp is so highly valued because it is the only one not currently included in the British Royal family's Royal Philatelic Collection.
The stamp, which is an 1856 One-Cent Magenta from British New Guiana, measures 1 inch by 1 and one quarter inch. It is the most valuable stamp in the world currently, and far out values the 1885 Swedish stamp which sold for $2.3 million, the highest amount for which any stamp ever has sold to date. The stamp shows a ship with three masts and the British colony's motto in Latin, which means, "we give and expect in return." The rare stamp is being sold by the estate of John E. du Pont, its last owner. John E. du Pont was an heir to the infamous du Pont Chemical fortune.
The rare South American stamp has not always sold for big bucks. Besides it once sold for juat a few shillings when a twelve year-old boy, who had found the collectible stamp, sold it to collector Neil McKinnon.