Block of 1869 24-cent stamps expected to bring $1M USD
Famed bond manager Bill Gross has announced he will sell one of his many investments, his rare U.S. stamp collection.
Gross, who’s a fund manager at Janus Capital and co-founded Pacific Investment Management before his 2014 departure, recently announced his plans to sell his collection through a series of auctions, this first of which is slated for September. It will be hosted by Siegel Auction Galleries.
For more information, visit siegelauctions.com/grosspreview.
In May 2016, Gross appeared on Bloomberg GO to discuss philanthropy and philately, both of which he knows very well.
“Well, I’ve been selling it for nine years; you know, once you’re fill in all the spaces, Tom, it’s time to start letting some of it go,” said Gross, of the idea of selling his stamp collection.
“I’ve been letting it go for charity for about $20-$25 million over the past nine years, and this collection sale helped.”
Asked if he’ll ever “sell the stamp with the upside down airplane,” Gross responded: “Oh, no—never, never sell the Inverted Jenny; keep the Inverted Jenny.”
A previous sale of part of Gross’ collection realized $4.5 million USD, a portion of which was donated to the Pimco Foundation that he co-founded in 2000.