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Friday, April 23, 2010

Bill Gross Dips Into His Stamp Collection

News summary by MFWire's editors

PIMCO founder and co-CIO Bill Gross plans to auction about 200 rare French, Chinese, and German stamps from his collection to raise more than $1 million for the charity Doctors Without Borders, according to a Thomson Reuters report.

One vermillion French stamp may be worth over $75,000. The one-franc stamp was printed in 1849, the first year France issued postage stamps.

The stamps will be sold at auction on May 19. Prior to the sale, they will be on display in London from May 8 to 15, and in New York on May 17 and May 18. 

Edited by: Stephanie Bernhard

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