Magenta share ownership

“‘Mona Lisa’ of stamps returns to Britain for first time in 143 years”, blared the Sky News headline yesterday. Other British media carried captions in similar vein. As every philatelist knows the ‘Mona Lisa’ of stamps is the One Cent Black on Magenta which has its origins not in the UK at all, but here in Guyana, or British Guiana, as it once was. After it left this country its sojourn in Britain was exceedingly brief, and most of the time it could be found first in Europe and subsequently in the US.  Its rarity derives from the simple fact that no others of its kind have survived. It was one of a small batch printed by the local Gazette after a shipment of stamps from England was delayed.

This unprepossessing scrap of octagonal paper is considered to be the most valuable man-made item in the world, and is worth 2.5 million times more than 24-carat gold, according to an internationally known stamp dealer. Up until it was sold at auction last month, it had been on display at the Smithsonian National Stamp Museum in Washington DC, on loan from American shoe designer, Stuart Weitzman.

From a Guyanese point of view it is less a question of which country provides a home, than who has bought it, and this time, we might be in luck for reasons which will become apparent later. The new owner of the Black on Magenta is rare stamp dealer Stanley Gibbons, whose name will be known to collectors in this country, some of whom no doubt own one or another of that company’s catalogues.

It has been reported that the tiny item will be subject to rigorous security and will be transported in an armoured truck after it lands at Heathrow after travelling from Sotheby’s in the United States. Thereafter it will be locked in a vault before going on display in Stanley Gibbons’ central London shop in a specially commissioned, zero-oxygen frame.

CEO of the firm, Graham Shircore, was quoted as saying: “It’s truly one of a kind, and we’re delighted to be welcoming it back on to British soil where we hope it will remain.” On its own website Stanley Gibbons gives a brief synopsis of Guyana’s philatelic background, after first essaying into a dubious account of the nation’s earlier history. The article says that Guyana’s relationship with stamps began with the ‘Cotton-reels’ of 1850-51, which were followed by a second issue printed by Waterlow (in England) in 1852. This in turn was succeeded by what was called a “more conventional issue” in 1853, which also featured the ‘Ship’ design. The ‘Ship’ appeared on almost every issue until 1931, including, of course, the Black on Magenta, which dates from 1856.

While referring to the many stories which surround the Magenta, the site rather improperly, perhaps, cites the one supposedly associated with previous owner Arthur Hind, who was said to have purchased a second example and then burned it, to preserve the stamp’s unique status. The story is almost certainly apocryphal, and does not find space in any of the recognised philatelic histories of British Guiana.

The dealer does say something which will come as no surprise to Guyanese, i.e. that our early stamps are very hard to find in fine condition. Among the other issues which the site highlights are the pictorial ones, the first being in 1898 for Queen Victoria’s Jubilee, and which showed Mount Roraima and Kaieteur Falls. Another pictorial set came in 1931, in celebration of the 100th anniversary of the formation of British Guiana, followed by a more comprehensive set showing images of the then colony in 1934. Errors were far from being unknown, while as in the post-Independence period, overprints were not in short supply.

Stanley Gibbons writes: “Throughout its philatelic history, British Guiana has produced issues of great interest as well as significant rarities.  The village postmarks are a fascinating field in their own right and there are other side alleys to visit, such as the Officials and booklets. In short, there should be something of potential interest for every collector looking for a new field.”

But what makes the Stanley Gibbons’ acquisition of particular interest to Guyanese is that the dealer intends to make the stamp available to collectors through a shared-ownership scheme. It is not a new idea; it has been applied in the art world with shares in some major paintings selling from prices like £20. “This isn’t just for wealthy collectors,” Mr Shircore was quoted by the Guardian as saying”; “[w]e are developing a pricing model that will allow anyone to join the club.”  He went on to remark that these “bold plans” will allow everyone to “own a piece of its marvellous history.”

Guyanese have always felt rather remote from this particular wisp of their heritage, despite the fact it is so valuable. After all, it hasn’t been in this country since the 19th century, and has spent most of its time being passed along from one international millionaire to the next. Being a part of a shared-ownership scheme is certainly not going to make anyone any money, something that will seriously limit its appeal in this country, although there are still bound to be a few persons who would like to reconnect with their philatelic heritage if only in a symbolic way.

The competition to be a part of the scheme is likely to be serious, with hundreds from outside this country putting in applications. One would have thought, however, that there is one institution here above all others which would be given priority by the dealer, and that is the General Post Office. Of all the applicants Stanley Gibbons might review, this is the one with the best moral case. If the post office were to secure shares, it would be the nearest we are ever likely to come in the foreseeable future to repatriating the Magenta.

Whether the Board of the GPO could authorise such a purchase on its own, or whether it would require the government’s imprimatur doesn’t matter; no time should be wasted in deciding to take advantage of the scheme, and then follow it up by making the necessary moves to accomplish that end.  The GPO could start by clicking on www.1c-magenta.com to get more information.