News from Spink

Spink to auction HK$ 5million in stamp rarities found in old notebook

Occasionally great philatelic rarities are found, their importance not realised or forgotten as collections were passed down through the generations. Early last year such a discovery occurred in Spink’s London office when the grandson of a collector brought in an old and insignificant notebook which was part of his grandfather’s collection.  The majority of the collection was not of substantial value. It was the last page of the notebook that grabbed the attention of the Spink stamp department. It held two of the most important items in Chinese Philately:  Two blocks of 3 cent 1897 Revenue Surcharges from China, affixed to the page by their margins. The owner was shocked to find that the stamps were valued at upwards of HK$ 5million. The two blocks of six have been consigned to Spink’s upcoming auction in Hong Kong which will take place on the morning of 20th January 2008.

Philatelic history of the pair:

In 1897 China prepared to change it’s currency from units of silver to dollars and cents. At the same time, a new National Postal Service was inaugurated to take over from the old Customs Post. The order for a set of new stamps was placed with printers in Japan; however, delays meant that these were not going to be ready in time for the launch of the new currency. As an emergency measure, all available existing stamps were gathered up and sent to Chinese printers to have the new values overprinted on them. The post office was due to offer many new services, such as postal remittances, parcels and insured mail, all requiring high-value stamps. There was a stock of unused revenue stamps available and some of these were overprinted for the $1 and $5 values. Further delays at the printers meant that the remainder of these revenue stamps were utilised for 1 cent, 2 cent and 4 cent values.

About Spink

Spink is the world’s leading auctioneer of coins, stamps, medals and banknotes with offices in London, Singapore, New York and Dallas.  Since its foundation in 1666, the Spink name has become synonymous with tradition, experience and integrity. Holders of three royal warrants and numerous records for prices achieved at auction, Spink offer an unparalleled range of services to collectors worldwide.

Public Enquiries:  020 7563 4000 – www.spink.com or info@spink.com

Images:  Spink Press Office on 020 7563 4009