According to the AP, this 1-cent magenta stamp is going up for auction on June 17. It is expected to net somewhere between $10 and $20 million, smashing the record for the most valuable single stamp. Image © wikimedia
The British Guiana 1c magenta is regarded by many philatelists as the world’s most famous stamp. It was issued in limited numbers in British Guiana (now Guyana) in 1856, and only one specimen is now known to exist.
It is imperforate, printed in black on magenta paper, and it features a sailing ship along with the colony’s Latin motto “Damus Petimus Que Vicissim” (We give and expect in return) in the middle. Four thin lines frame the ship. The stamp’s country of issue and value in small black upper case lettering in turn surround the frame.
The 1c magenta was part of a series of three definitive stamps issued in 1856 and was intended for use on local newspapers. The other two stamps, a 4c magenta and 4c blue, were intended for letter postage.
The issue came about through mischance. An anticipated delivery of stamps by ship did not arrive so the local postmaster, E.T.E. Dalton, authorised printers Joseph Baum and William Dallas, who were the publishers of the Official Gazette newspaper in Georgetown, to print an emergency issue of three stamps. Dalton gave some specifications about the design, but the printer chose to add a ship image of their own design to stamps. Dalton was not pleased with the end result, and as a safeguard against forgery ordered that all correspondence bearing the stamps be autographed by a post office clerk. This particular stamp was initialled E.D.W. by the clerk E.D. Wight.