World's Most Valuable South American Stamp Collection

A collection of historic, early South American postage stamps from the 1800's, valued at $5 million or more, will be offered in a public auction in New York City on June 5 and 6.

According to a press release put out by the Robert A. Siegel Auction Galleries, "The world's most valuable private collection of South American postage stamps, assembled over four decades by a retired college professor who now lives on an island, will be offered in a public auction in New York City and online on June 5 and 6, 2008. One 1840's item from Brazil is expected to sell for more than $1 million."

Scott R. Trepel, President of Robert A. Siegel Auction Galleries, Inc. of New York City is quoted as saying, "The sale is named 'The Islander Collection' because the anonymous collector lives on an island outside the United States. He's a retired professor of economics who has lived on three islands, and whose love of stamp collecting started when he was child."

Shown above, the most famous and valuable item in Brazilian philately, the "Pack Strip," named after a previous owner - Charles Lathrop Pack. The strip has two 30-reis and one 60-reis stamps joined together.

To read the entire release, click here.