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New York City Stamp Auction Raises $3.2 Million for Museum
A Civil War-era envelope postmarked November 15, 1861 with a Confederate Postmaster's blue 5 cent Livingston, Alabama "provisional" postage stamp is shown. The stamp, the collection of Wall Street executive, William H. Gross, sold for a record $160 thousand in a public auction conducted by Spink Shreves Galleries in New York City, Thursday, Nov. 19, 2009. AP Photo/Spink Shreves Galleries, Ho.
NEW YORK, NY (AP).- A New York City gallery has auctioned over 200 rare postage stamps to raise $3.2 million for the Smithsonian National Postal Museum in Washington, D.C.

Wall Street money manager William Gross' collection of Civil War-era Confederate states and early Canadian stamps sold Thursday at the Spink Shreves Galleries of New York and Dallas.

Gross recently pledged $8 million to build a new gallery at the museum. A $3.2 million check was presented to the museum's director after the auction as part of that donation.

A gallery spokesman says a record price of $260,000 was paid for a single Canadian stamp, a black 12 pence stamp of Queen Victoria from 1851.

The winning bids do not include an additional buyer's premium of fifteen percent.

Copyright 2009 The Associated Press.

New York City Stamp Auction | Smithsonian National Postal Museum | William Gross |

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