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Is it Trash or Treasure? And What's the Worth?
All over the news last week was one of those, "Wow, if only it were me" stories. It involved a woman in Louisiana who purchased a painting at a garage sale for $2. Admittedly, the painting isn't my cup of tea — sort of a cubist/…Read more.
Christmas/Holiday Traditions Continue on Through the Mail
If you dial the clock back to 1961, in the eyes of the U.S. Postal Service, Christmas didn't exist. That's because there was no official Christmas stamp until 1962. It was a modest little 4-cent stamp showing a wreath, two candles and the word …Read more.
Don't let Counterfeits Spoil the Holidays
For longer than I care to think about, at this time of year I begin offering suggestions for holiday-related gifts that collectors may enjoy. They usually range from quite inexpensive to "mortgage-the-home." Considering the economy, this …Read more.
Blind Ambition Celebrated and Possibly Rare
As a policy, I'd never suggest a way to profit from someone else's misfortune. Certainly, blindness is not only unfortunate, but those who have sight might consider it an absolute tragedy. Others, however, might have a different take. It's been …Read more.
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Million-Dollar Rarity On "Ice" For 40 YearsI'm relieved to say I don't have what it takes to be a thief. In truth, I'll admit I don't know what it would take but do recognize what not to do. On TV, Jay Leno has a field day talking about "Stupid Criminals." Within that category has to fall people who steal things that are by all rights unsalable. Take the Mona Lisa (not literally.) It's on display in a virtual vault behind bulletproof glass. But, what if someone were to steal it? What could they do with it? If someone stopped by and asked, "Is that the Mona Lisa?" the only response the "owner" could give is, "I dunno…maybe." And, they couldn't possibly sell it. Eventually it will be discovered and returned. The Mona Lisa may be an extreme example but the same holds true for most collectibles including coins, stamps and currency. Like a fingerprint, all are identifiable in their own way. Whether it's the perforations on a stamp, tiny marks on a coin or the serial numbers on currency, each is unique. Case in point — a recently discovered envelope bearing a 90-cent stamp issued in 1869. Back then it traveled from Boston through London to a man who worked at an ice house in Calcutta, India. Such a trip resulted in it being in fairly worn condition. But, it was never thrown away and eventually ended up in the collection of Indiana collector J. David Baker. In 1967, an organized burglary ring stole that envelope and several hundred others owned by Baker. Perhaps the ring wasn't too organized because, seven years later, the envelopes — known as "covers" in philatelic jargon — were recovered. They were all too identifiable and hard to sell. Thing is, what became known as the "Ice House" cover wasn't among them. Fast forward to 2006, when an elderly couple visited a small stamp shop in Chicago. In their possession was a curious envelope. The dealer quickly recognized it was the fabled and missing Ice House cover. Now, enter the FBI. They confiscated it and questioned the couple. Perhaps they didn't think too much about that. But, they may soon. The cover was returned to the Baker estate. Baker died some years ago but his has widow consigned it to the Robert A. Siegel Auction firm — the same firm that sold the recovered items. This time, however, the cover isn't going into just a regular auction. It has been placed in the annual "Rarities of the World" sale. It's in that particular sale for several reasons. First, the legend of the missing "Ice House" cover has intrigued collectors for years. Naturally, few have ever seen it and fewer still have owned it. But, the second reason is the most important. The Ice House cover is the only known envelope that has one of those 90-cent stamps attached to it. That's correct, it's unique and understandably so. If you think about it, 140 years ago, 90-cents was a lot of money. It would pay rent for a week or more and fill your pantry with food. Very few people would have the disposable income to spend 90-cents on a stamp or have the need to send a letter to India. Plus, why did the recipient all the way across the globe keep the envelope? What was inside was the important part. That will never be known. What is known is that pre-sale estimates for the rare Ice House cover are $300,000 to $400,000. But, many stamp experts believe that to be woefully conservative. They are guessing the price will be closer to one million dollars. The Ice House cover is scheduled to go under the hammer on Saturday, June 13, at Siegel's New York City office at 60 East 56th Street. More information is available at www.siegelauctions.com. There's one other thing to consider. As I mentioned earlier, this is the only KNOWN cover bearing the 90-cent stamp. Is another out there tucked between the pages of an old book or in a stack of forgotten letters? It's entirely possible. One more reason to never give up the treasure hunt! Editor's Note: A JPEG visual of the "Ice House" envelope has been sent with this column.) To find out more about Peter Rexford and to read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com. COPYRIGHT 2009 CREATORS SYNDICATE, INC.
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