Rare 1-cent stamp sells for record $9.5 million

June 18, 2014 1:32 PM

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Rare 1-cent stamp sells for record $9.5 million

A stamp known as the One-Cent Magenta from British Guiana has been sold for $9.5 million, the most any stamp has ever been purchased for at auction.

The 29-by-26-millimeter stamp is the only known one of its kind. It is the "sole surviving One-Cent of the entire 1856 issue produced in Georgetown, British Guiana," according to the description from Sotheby's, the New York house that conducted the auction.

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