In a momentous event for philatelists and collectors of rare artifacts, a Plate 77 Penny Red stamp, celebrated for its historical misprinting, is set to grace the auction block with a staggering valuation of £650,000 (approximately $844,000). This particular stamp, recognized as Britain’s rarest and most valuable, has captured the imagination of enthusiasts worldwide due to its unique origin and scarcity.
The story of the Plate 77 Penny Red dates back to 1864 when a printing error led to the creation of only nine surviving stamps from a sheet of 240. The plate responsible for these stamps was swiftly decommissioned and destroyed after the flaw was discovered, making the existing examples highly sought after. Among them, three are held privately while others reside in esteemed museum collections such as the British Library and the Royal Philatelic Collection.
Discovered by a dealer in Manchester during the 1920s, this specific stamp has traversed illustrious collections, lending it an unparalleled pedigree in the world of philately. Paul Fraser Collectibles, the current seller, attests that the Plate 77 Penny Red has adorned some of history’s most prestigious stamp collections.
Featuring Queen Victoria’s profile, each stamp bears the distinguishing marks 77 denoting its plate number and PI indicating its position on the plate. Accompanied by an original envelope and alongside a four-penny stamp, these artifacts showcase a piece of postal history from Highbury, London, complete with authentic cancellations.
Despite its lofty price tag, the Plate 77 Penny Red is not the most expensive stamp ever sold; titles still belong to the British Guiana 1c magenta, which fetched $12.2 million in 2014, and a Mauritius Post Office 1d red envelope, which sold for $12.6 million in 2021.
Mike Hall of Paul Fraser Collectibles notes, While the Penny Black holds fame as the first stamp, it is the Plate 77 Penny Reds that ignite fervor among collectors, encapsulating the stamp’s allure and historical significance in the realm of postal history.
The Penny Red itself replaced the Penny Black after authorities found the latter susceptible to reuse due to its easily removable cancellation. The switch to a red stamp with a more permanent black cancellation marked a pivotal moment in the evolution of postal services worldwide, exemplified by the unique characteristics of the Plate 77 Penny Red.
As anticipation builds for the upcoming auction, scheduled to attract global interest and bidding, the Plate 77 Penny Red stands not just as a collector’s item but as a testament to the enduring fascination with rare and historically significant artifacts in the realm of philately.
