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The rarest and most valuable postage stamp in the UK is set to be sold by a local collectibles store for the same price as an average two-bedroom house in Jersey.
Paul Fraser Collectibles, which is based in Bath Street, today announced the sale of a "legendary" Plate 77 Penny Red stamp for £650,000.
The same artefact last sold in 2012 for £550,000 – which remains a record for a single Great Britain stamp.
Pictured: A small 77 on the stamp reveals that it is from the rare printing plate 77. (Paul Fraser Collectibles)
The Victorians issued 21 billion Penny Red stamps, but just nine examples exist from printing plate 77 – and only three of these remain in private ownership.
This is because the authorities only produced one sheet of 240 stamps from plate 77 before they realised it was defective.
They destroyed the printing plate and the sheet, but nine stamps somehow escaped the incinerator.
Paul Fraser Collectibles CEO, Mike Hall said: “This stamp is legendary among collectors because it shouldn’t exist.
“While most people know the Penny Black was the first stamp, it’s actually Plate 77 Penny Reds that send collectors into a frenzy.”
The stamp, which can be found online, is sold with independent certificates of authenticity from the Royal Philatelic Society in 1920 and the British Philatelic Association in 2011.
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