Proactive Investors - Run By Investors For Investors

Stanley Gibbons nets record £500,000 for strip of rare Indian stamps

That’s the highest price ever paid for a single Indian philatelic item
strip of four 1948 Gandhi 10 rupees ‘SERVICE’ stamps
HM Queen Elizabeth II is also known to have a similar strip of four 1948 Ghandi 10 rupees ‘SERVICE’ stamps

Shares in Stanley Gibbons Group PLC (LON:SGI) jumped this morning after the prestige collectibles merchant sold a strip of rare Indian stamps to a private collector-investor in Australia for £500,000.

That’s the highest price ever paid for a single Indian philatelic item.

Stanley Gibbons said the “unique” strip of four 1948 Gandhi 10 rupees ‘SERVICE’ stamps is considered the most desirable item of post-1947 Indian philately.

Only single examples of this “great rarity” have ever been recorded in private hands, the AIM-quoted firm said. In fact, Stanley Gibbons sold one of the singles last year to a client in Uruguay for £160,000.

SIGN UP: Click here to get the Proactive newsletter delivered straight to your inbox

The reason for the rarity and subsequent high value of these particular stamps is because only 100 were ever printed with the word ‘SERVICE’ on and they were issued directly to the Governor-General’s secretariat.

One sheet of 50 stamps remains intact in the Delhi Postal Museum, while only thirteen single examples from the other sheet are authoritatively recorded, including the strip of four just sold.

HM Queen Elizabeth II is also known to have a similar strip of four 1948 Ghandi ‘SERVICE’ stamps in her collection, which is thought to be the largest and most valuable private collection in the world.

Today’s sale follows on from a string of recent high-profile sales of Indian rarities, including the famous ‘Four Annas’ – where the head of Queen Victoria is inverted – which sold for almost £110,000 last month.

“The market for high-quality Indian rarities has been strong for several years and is supported by the on-going desire of the wealthy, Indian diaspora and savvy international clients to own these historic assets,” said Stanley Gibbons’ managing director of investors.

“Given Stanley Gibbons' specific expertise, we are best placed to identify, authenticate and trade rare Indian stamps of the highest quality.”

Shares in Stanley Gibbons gained almost 9% to trade at 9.37p shortly before midday. 

View full SGI profile View Profile

Stanley Gibbons Timeline

October 03 2016

Related Articles

Flying Brands
March 07 2018
Flying Brands has signed a deal for the sale and distribution of its StoneChecker software in South Korea
H&T Pawnbrokers store
November 15 2017
“We have delivered a strong trading performance during the second half in the key segments of Pawnbroking, Retail and Personal Loans”

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use