"Odd-ball" Monroe goes up for auction

Delaware Online reports that retired electrician, Charles Jacobs, from Allentown, Pa., was working on his collection two years ago when he discovered a gem that may be "the only one of its kind."

The stamp (shown here) bears the likeness of President James Monroe and contains a major perforation error. According to the article, the stamp could fetch as much as $50,000 during an auction today.

When Jacobs first stumbled upon the stamp, he had no idea how special it was.

“I just thought it was an odd-ball stamp,” he said.

The article cites Linn’s as saying, "The typical Monroe stamp has 11 perforation holes on all four sides, but the rare stamp contains only 10 holes on its top side. Only a few such stamps were produced when a 10-gauge perforation wheel unintentionally replaced an 11-gauge wheel."

To read the entire article, click here.