Excess Revenue stamps to be auctioned
The National Postal Museum in the USA have shelved their plans to destroy over one million revenue stamps and will now sell them at auction instead.
Around 7.8 million revenue stamps were donated by the Treasury Department to the Smithsonian after they were taken out of use. The museum then planned to keep many in their collection and sell off several million in order to raise money for the museum.
Over one million of the stamps were pencilled in to be destroyed as fears grew over the effect releasing them on to the market would have on stamp prices. This plan met with a number of objections and so a compromise has been agreed whereby the stamps will be marked with indelible ink and sold at auction.
It is estimated that around 6 million revenue stamps will be sold, with the first sale taking place on 12th February at New York City's Four Seasons Hotel.
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