Investor Bill Gross, known as the ‘bond king’, will be putting his rare stamp collection up for sale next week in New York, with presale estimates suggesting the sale could bring in $15-$20 million. The most valuable piece in his collection, a 1868 one cent Z Grill, is expected to sell for $4-$5 million. Gross’s interest in stamps was sparked by his mother’s attempts to invest in them for his college education, leading him to seek out stamps that would be a better investment. Gross has sold over $50 million worth of stamps in recent years, including a record-breaking collection of rare UK printings.
Gross’s stamp collection is being sold piece by piece at the Robert A Siegel auction house on Friday and Saturday, with the potential to break records for the most valuable US stamp collection. The sale includes a variety of rare and valuable stamps, with the most valuable piece, a 1868 one cent Z Grill, expected to fetch between $4-$5 million. Gross’s interest in stamp collecting was inspired by his mother’s attempts to invest in stamps for his college education, leading him to seek out stamps that would be a better investment. Gross has been collecting stamps for many years, with a particular interest in identifying and buying stamps that have the potential to increase in value over time.
Gross’s interest in stamps dates back to his childhood, when his mother bought stamps in the hopes of paying for his college education. When Gross tried to sell the stamps, he realized that they were worth much less than what she had paid, leading him to search for stamps that would be a better investment. Gross has amassed the most complete collection of US stamps in history through his diligent collecting over the years. His collection includes a variety of rare and valuable stamps, with the potential to set records for the most valuable US stamp collection ever sold. Auction house presale estimates suggest that the sale could bring in $15-$20 million, with the most valuable piece, a 1868 one cent Z Grill, expected to sell for $4-$5 million.
Gross’s interest in stamps has been a long-standing passion, with him penning monthly investor notes for 40 years that offer his view on a variety of markets. His interest in stamps was sparked by his mother’s attempts to invest in stamps for his college education, leading him to seek out stamps that would be a better investment. Gross has sold over $50 million worth of stamps in recent years and has been recognized by the Smithsonian National Postal Museum in Washington for his contributions to the world of stamp collecting. Now, Gross is getting out of the sector because he believes the stamp market is due for a correction. Despite the challenges facing the stamp collecting industry, Gross remains optimistic about the future of stamp collecting and believes that stamps will continue to be a valuable and sought-after investment for many collectors around the world.
Gross’s decision to sell his rare stamp collection comes at a time when the stamp market is facing challenges due to a lack of new collectors entering the market. Shreve, Gross’s philatelic adviser, expressed concerns about the lack of a “feeder system” for new collectors, as many of today’s wealthy collectors started their collections as young people. Despite these challenges, Shreve remains optimistic about the future of stamp collecting, noting that stamps continue to be collected internationally and that online auction sites like eBay have helped to offset the decline of retail stamp and coin shops. Gross’s decision to sell his stamp collection represents a new chapter in his stamp collecting journey and may mark the end of an era for one of the most complete collections of US stamps ever assembled.
Discussion about this post