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1c Magenta and Fractional Ownership

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Carmen08/11/2021 19:44:04
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[Carmen runs in to the Fora, all excited-like...]

Well, *1/80,000th* part of it anyway!

That's right, yours truly just got her early Christmas present, a share in the venerable-and-postally-historical 1c Magenta, the most valuable item in the world by weight, and world's most expensive stamp, purchased and now owned in trust for collectors by Stanley Gibbons over at your end of the pond.

At at only $121.49 per share, a bargain at twice the price, causing yours truly to go running into the TV room and, interrupting #1 husband's Netflix, yelling, "I've found my Christmas present, I've found my Christmas present!"

Anyone else in here getting involved in the madness? I know Guy Thomas mentioned he might be tempted in his editorial of this month's edition of Stamp Mag.

In all seriousness, though, I think the whole notion of Fractional Ownership is fantastic, allowing me and many more collectors like me, who would NEVER IN A MILLION YEARS be able to afford such a prize, to have a small part of it anyway. As a collector, you can't hope for better than that. And, now, they'll need my permission to lend it out! (Seriously, they agree to consult the collectors for things like that!) How cool is that.?nerd They even allow you to digitally "initial" the back of your copy. Wow... a nifty day in MY household for sure!

[Carmen runs out of the Fora to continue searching through her piles of stamps for an elusive Treskilling Yellow...]

Fred Sellars08/11/2021 21:40:55
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It's quite possible that other collectors may think differently about shelling out their hard-earned cash  for a virtual minuscule share of this stamp with the probability of never getting their money back Carmen.

Here is a video based on the purchase and possible potential of the British Guyana one-cent magenta, this is what #philately had to say on the situation > **LINK**

A few eyebrows have been raised over this venture concerning what the final outcome will be, for both the rarest stamp in the world, and the companies involved in this speculative purchase.

Look before you leap ! Fred.

Edited By Fred Sellars on 08/11/2021 21:42:44

Carmen09/11/2021 12:21:46
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Oh FRED! [Carmen inserts deep James Earl Jones-Darth Vader voice] I find your lack of faith... disturbing. laugh

You won't diminish my excitement, d'ya hear me?! You won't you won't you won't! Tee hee!

Like all new ideas, there are early adopters, and then those who don't adopt so early, and both are fine, methinks. Either way, it's nice to see the hobby *thinking outside the box* and willing to try something new. I'm happy to help in that since the financial outlay was not so significant as to render it foolhardy, yes? I am hoping that the Showpiece people (or Stanley Gibbons) keep us up to date on how the whole process is going.

I do know that that when I first logged on yesterday morning to look at the offer, sales were at 7% of early access goal.

By the time I logged back in yesterday afternoon, they were at 30% of goal. This morning they've sold 5209 pieces (65% of their early access goal). The pieces gets opened up for general resale on November 11th at $136.00.

Let the fun continue! Thanks for the link by the way, I'd never seen any of his podcasts... very interesting - I also looked at his Penny Black one and Operation Cornflakes one.

Fred Sellars10/11/2021 10:49:38
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Once a hobby starts to become treated like a commodity on the stock market then you will need to think twice before sending in the stormtroopers DARTH CARMEN.

It may sound like fun to you at the moment but you will need to watch out for the force such as Luke Skywalker and Obi-Wan Kenobi etc.

It's been tried before with consequences ! Fred.

Carmen10/11/2021 12:15:31
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Of fer sure Fred - anyone who thinks that stamps are an "investment" isn't thinking quite straight, in my humble opinion. No, the only reason I did this is because I am an enthusiastic collector and thought this would be a great add-in to my collection for an affordable financial outlay.

PS. they're now at 101% of early access goal with 8,072 pieces sold. What I'll be interested to see is if they inform us about how it all cashes out: X owners bought the max 8000 pieces each and so forth, X individual pieces were bought... that kind of thing. Just out of curiosity.

Fred Sellars10/11/2021 14:30:18
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Only another 53,000 pieces to go : should be "Easy Peasy" then, Fred.

Carmen11/11/2021 11:33:53
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Yup... they're up to to 49,048 pieces sold among 1,033 collectors, now at the regular price of $134.14 per share - an average of almost 47.5 shares each - so obviously someone's been buying multiple shares, unlike "wife-of-the-Army pensioner" me.

Then I remembered I had a book in my kindle collection I bough many years ago and hadn't read yet, The One-Cent Magenta - Inside the Quest to Own the Most Valuable Stamp in the World by James Barron.

I've now started reading it and am enjoying it tremendously - Mr. Barron, a journalist and friend of the auctioneer from Sotheby's responsible for the sale of it back in 2014, made me chuckle somewhat as he talked about the slightly-insane people who inhabit the collector' s parallel universe of "Stamp World". laugh

Have a great day everyone - Remember to Remember on this Remembrance Day, and thank those around you who choose/chose to serve in our armed forces.

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