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$1.04M stamp

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A three cent pink stamp from 1868 just sold for $1,035,000. That’s an annual interest rate of 13.2%. In real terms – assuming a 3% inflation rate – that’s a  10.2% real return on this adhesive rectangle. Not too bad, though I’m sure that there were more lucrative investments in the mid-nineteenth century.

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Written by Niall

November 2, 2008 at 1:26 pm

Posted in History

Tagged with ,