PIMCO Bond Fund Exec Bill Gross Auctions Stamp Collection for Charity

[mahatmakanejeeves]

I like this guy. I went over to the Postal Museum a few years back to look at a block of four Inverted Jennies. In case you've forgotten what an Inverted Jenny is, take a look at this: NYT: Florida voter uses extremely rare stamp to mail absentee ballot

Inverted Jenny



Anyway, there was an auction yesterday at which he sold off some of his collection to raise money for Doctors Without Borders.

PIMCO's Gross to sell historic stamp collection for charity

PIMCO’s Bill Gross, manager of the world’s largest bond fund, is auctioning off some of his historic stamp collection to raise proceeds for charity organisations.

The fund manager and philatelist, who owns the most valuable collection of US stamps belonging to a private individual, is aiming to generate $1.5m to $2m from the sale.

All proceeds will be donated to Doctors Without Borders/Médecins Sans Frontières (MSF) and the Millennium Villages Project at Columbia University's Earth Institute.

Items up for sale include US postage stamps dating back to 1847, along with a rare ten-cent stamp neatly cut in half and used in place of a five-cent stamp. It has an estimated value of $15,000 to $20,000.

I learned about it via last night's Nightly Business Report

Nightly Business Report – April 9, 2013

http://nbr.com/2013/04/09/nightly-business-report-april-9-2013/

The segment on Bill Gross starts at 22:52 into the show.

www.youtube.com/watch?feature=player_embedded&v=PsUMFONWFSg#t=1372s