Some of the most valuable stamps in the UK are possibly lying forgotten, especially since the rise in digital technology means less people post physical letters.
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Did you know the UK's rarest stamp sold for a record £550,000 a few years ago? If your childhood album contains collectible stamps that are in high demand, it's well worth having them valued to check whether you have any hidden gems.
History of stamps
Teacher Sir Rowland Hill invented the world's first adhesive postage stamp in 1837, leading to the launch of the pre-payment postage system with a uniform rate.
The Great Post Office Reforms of 1839 and 1840 were introduced to stem the post office's financial losses. Prior to this, the cost of posting a letter depended on how many sheets of paper it comprised and the distance it needed to travel.
For example, a two-page letter being sent 100 miles across the UK would cost one shilling and six pence, according to historic records. At this time, the average weekly wage of a manual labourer was 15 shillings, so the cost of sending a letter was around the same as a week's rent.
On 10th January 1840, the uniform Penny Post began, charging just one penny to send a pre-paid letter weighing less then half an ounce anywhere in the UK. Prior to this, it had been the recipient rather than the sender who paid the postage. The introduction of the Penny Post resulted in more people using the postal service, which began to prosper.
Sir Rowland's adhesive postage stamps made it easier for the new, pre-payment postage system to operate. He was knighted for his invention, which he described as "a bit of paper just large enough to bear the stamp" with a "glutinous wash" covering the back.
The first stamp in use in the world was Britain's Penny Black, which was launched on 6th May 1840. In the first year of the Penny Post, the number of letters posted in the UK more than doubled. By 1860, postage stamps were used in 90 countries who followed Britain's lead.
What makes a stamp valuable?
As computers, mobile phones and technology continue to develop, people are using fewer stamps today. This has increased the value of old postage stamps as they become rarer.
Specifically, the decline in physical letters has been caused by the use of social media, email, texts and instant messaging. As time passes, the number of stamps used will decrease further, according to projections.
While old and scarce stamps can fetch a good price, those printed in error are usually more valuable. Philatelic investors and collectors often seek stamps with a printing defect, as it makes them totally unique.
A stamp's value can also increase if it's in "mint condition" and has never been used at all.
How many people collect stamps in the UK?
Stamp collecting is still going strong in the UK, more than 150 years after the first postage stamp was created.
The Stanley Gibbons Group, a specialist company set up in 1856 to sell rare stamps, says 18,000 Brits subscribe to its newsletters today. This figure hasn't declined, despite the onset of the digital era. Apart from the hardcore serious collectors, there are also thousands of people who do it as a hobby.
Considering the thousands of stamps printed over the years, what are the five most valuable examples in the UK?
- The Plate 77 Penny Red (1863)
The Penny Red was Britain’s second postage stamp, succeeding the Penny Black in 1841. The colour change came about because the franking mark was difficult to see on the darker stamps. Some two billion Penny Reds were printed, before it was discontinued in 1879.
If you found a Penny Red from Plate 77, released in 1863, it could be worth a massive £550,000. This is because the test sheets were imperfect, and the perforations weren't lined up properly.
Most were destroyed, although some had already gone into circulation. Experts say four mint condition Penny Reds and five used stamps were known to be in existence, although some had not been seen for many years.
The Plate 77 Penny Red is currently the most expensive stamp ever sold in the UK. The last one that changed hands publicly was sold by Stanley Gibbons for £550,000 in 2012. The buyer is unknown, and the stamp has not been on the market again in the past 11 years.
- Edward VII 6d Pale Dull Purple IR Official (1904)
The Edward VII 6d Pale Dull Purple IR Official stamp was withdrawn soon after it was issued in 1904, making it extremely valuable. The last one to be seen at a public sale went for an incredible £400,000 in June 2010.
It was sold by Stanley Gibbons, whose experts described the stamp as "one of the most sought-after in the world". Only 19 sheets were printed before it was discontinued. A handful still exist today, including one belonging to the Royal Collection and two in museums, including the National Postal Museum.
Stanley Gibbons' data reveals the value of this increasingly rare stamp has tripled since 2005, so you would be incredibly lucky if you found one in your collection.
- Roses Error stamp (1978)
Some of the world's most valuable stamps contain errors and this is the case for the Roses Error stamp of 1978, which is valued at £130,000 today. The rare stamps are valuable because three sheets of them were released without the 13p price printed on the front.
Her Majesty Queen Elizabeth II was known to have owned two of the rose error stamps in the royal collection. A third is known to exist, but its whereabouts are currently unknown. It was bought by an anonymous collector for £94,000 at the Stanley Gibbons' auction in 2015. Experts estimate it will sell for a hefty £130,000 if it ever surfaces.
The rose stamp with the 13p face value was issued by Royal Mail to mark the centenary of the Royal National Rose Society. Collectors have called it "the most important error stamp of the 20th century".
- Edward VII 2d Tyrian Plum (1910)
The Tyrian Plum stamp was created in 1910, during the reign of King Edward VII, when 100,000 sheets were produced, containing a total of 240,000 stamps. However, they were never released into circulation, as King Edward died a short time later.
The majority were destroyed, but some survived. One of the elusive stamps was sold for a record £102,000 by Spink auction house of London in 2011.
Only 12 of the Edward VII 2d Tyrian Plum stamps are believed to exist today, three of which were in Her Majesty Queen Elizabeth II's Royal Philatelic Collection. If one ever goes on sale, British collectors believe it will be a "once-in-a-generation opportunity”.
- Penny Black (1840)
The Penny Black is probably the one that most collectors will have heard about. Valued at £45,000, it remains one of the most sought-after, worldwide.
Printed in 1840, around 68 million of the first gummed postage stamp were produced. It has become the most iconic stamp in collectors' albums, as it was part of the first uniform Penny Post that enabled ordinary people to use the postal service.
It is highly unusual to find one unused or in mint condition, but in 2017, a well-preserved Penny Black was sold at Spink auction house for £45,000.
How do you store stamps?
The best way to store collectors' items like stamps is in a waterproof, dust-proof, lidded box. Stamps, like any other fragile paper products, can deteriorate quickly if stored in the wrong conditions. They can become mouldy and damp or can simply crumble to dust with age.
Check your collection at home for any valuable examples by comparing it with what's being sold at auction or online. Who knows, you might have hidden treasure!