Famous stamps found in post office cupboard on sale for $260K

By Elizabeth Hunter

Famous Penny Black stamps from 1840 found in a hidden cupboard in a Post Office are expected to sell for $269,397.

The stamps were discovered in 1905 during renovations at the Dublin General Post Office.

After a wall was knocked down builders found a hidden cupboard containing 175 Penny Black stamps - which had been untouched since 1840.

The sheet of Penny Blacks - the world's first postage stamp - was split up over the years, and now, a block of 12 is up for sale.

Despite having a face value of 12p, the incredible condition of these stamps has led collectors to pay hundreds of thousands of pounds for them.

The 12 stamps are set to be auctioned off by JC Auctions on 5 March, with a starting price of $202,000.

Mike Hall of JC Auctions explains: “A block of unused Penny Blacks such as this is worth far more than if each was sold separately.

"That’s because blocks - particularly a huge block of 12 - are incredibly rare.

“This is one of the largest blocks in existence still in private hands. But what truly sets it apart is its condition and colour.

“Not all Penny Blacks are created equal. Preservation this close to original condition, in a block of this size, is unheard of.

"And these 12 have the deepest, richest hue of any Penny Black - collectors adore that.

“Our conservative estimate is $150,000-200,000.

"It last sold in 2013, for $480,000, when the stamp market was at its peak.”