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    The One-Cent Magenta: Inside the Quest to Own the Most Valuable Stamp in the World
    The One-Cent Magenta: Inside the Quest to Own the Most Valuable Stamp in the World
    The One-Cent Magenta: Inside the Quest to Own the Most Valuable Stamp in the World
    Audiobook6 hours

    The One-Cent Magenta: Inside the Quest to Own the Most Valuable Stamp in the World

    Written by James Barron

    Narrated by Jonathan Yen

    4/5

    ()

    About this audiobook

    When it was issued in 1856, it cost a penny. In 2014, this tiny square of faded red paper sold at Sotheby's for nearly $10 million, the largest amount ever paid for a postage stamp at auction. Through the stories of the eccentric characters who have bought, owned, and sold the One-Cent Magenta in the years in between, James Barron delivers a fascinating tale of global history and immense wealth, and of the human desire to collect.

    One-cent magentas were provisional stamps, printed quickly when a shipment of official stamps from London did not arrive in British Guiana. They were mostly thrown out with the newspapers; one stamp survived. The singular One-Cent Magenta has had nine owners since a twelve-year-old boy rediscovered it in 1873. He soon sold it for what would be $17 today. Among later owners was a wealthy French nobleman who hid the stamp from almost everyone; a businessman who traveled with the stamp in a briefcase handcuffed to his wrist; and John E. du Pont, who died while serving a thirty-year sentence for the murder of Olympic wrestler Dave Schultz.

    The One-Cent Magenta explores the intersection of obsessive pursuits and great affluence and asks why we want most what is most rare.
    LanguageEnglish
    PublisherHighbridge Company
    Release dateMar 7, 2017
    ISBN9781681684420
    The One-Cent Magenta: Inside the Quest to Own the Most Valuable Stamp in the World
    Author

    James Barron

    James Barron is a staff reporter for The New York Times. Over the past twenty-five years, his writing has appeared in virtually every section of the paper and has ranged from breaking coverage of the September 11 attacks and the 2003 New York City blackout to The Gates public art installation in Central Park. An accomplished amateur pianist, he lives in New York City.

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    Reviews for The One-Cent Magenta

    4/5

    71 ratings26 reviews

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    • 5/5
      I have always thought postage stamps were neat. I admit I'm the ass in the post office line asking if I can see all the current stamps when I get to the counter, so I can pick out the coolest ones. (This, by the way, is unheard of in Australia; I've only found one post office where the lady is nice enough to let me pick my own stamps.) But I have never collected stamps. The hobby holds no appeal for me and never has. What I am hooked on, is rarity. The idea that there are only x number of something in the world sucks me in, no matter what x is. I understand the collectors that want to own what no one else owns; I don't have the ego for it, but the idea of owning something that is completely unique is a seductive one. That's why I bought this book on a whim. That and the cover. James Barron is a New York Times journalist, who stumbled on the story of the one-cent magenta stamp at a cocktail party; the article he wrote about it led to this book, where he chronicles the path this odd-looking stamp took on it's way to becoming the world's most valuable stamp, selling at auction in 2014 for 9.5 million USD, to Stuart Weitzman, he of the red-soled shoe empire. This is where journalists who write books shine, especially for someone like me, who knows almost nothing about stamps or philately. Let's face it, stamps do not lend themselves to page-turning drama, and philately needs all the help it can get if it's to appeal to those outside the bubble. Barron succeeded beyond my expectations. I completely enjoyed this book and spent all day reading it. His journalistic style brought the stamp's history to life, and even though he has a bit of fun with the eccentricities of "Stamp World" as he calls it, I thought he did a brilliant job describing the passion and dedication of the hobby in a sympathetic way. I'm thoroughly surprised and delighted at how much I enjoyed this book.
    • 3/5
      The "one-cent magenta" is a tiny, pinkish "provisional" stamp that was printed in British Guiana and used for postage on a newspaper. Despite these humble beginnings, this stamp has developed quite a mystique, especially since It is believed that there is only one specimen left in the world. The "magenta" has changed hands several times since its printing in 1856. The last time it was sold it brought in $9.5 million at auction.This book tells what is known of the history of this stamp and its various wealthy owners, including John du Pont of Foxcatcher fame. I found this digressive account hard to follow and the stamp-collecting characters were not as fun to read about as I had hoped. For hardcore philatelists only.
    • 4/5
      The famous “one-cent magenta” is the last surviving example of a batch of provisional stamps printed in 1856 in British Guiana when a shipment of official stamps from London did not arrive. It is said to have had only nine owners from the time a 12-year-old boy discovered it in his uncle’s papers in 1873 until it sold for close to $9.5 million at a Sotheby’s auction in 2014.The book is as much about the interesting owners of the stamp as it is about stamp collecting or the market for rare stamps. James Barron writes in a breezy, chatty style that makes the whole book engaging, but there isn’t all that much you can actually say about the One-Cent Magenta stamp itself.
    • 4/5
      Quite an enjoyable book of its type (taking the interesting collectible object and following its trail through history). I was a little surprised that wasn't all that much about the stamp itself (and not even a high-quality photo!), but I think the story of this stamp and its various owners is bound to resonate with anybody who's got the "collecting gene."
    • 4/5
      This delightful little book focuses on the British Guiana stamp that provides the title, the rarest stamp in the world. The handful of owners of the stamp are profiled, up to the current owner. Their motives (or eccentricities) provide the meat of the book. What does motivate men to covet what is, admittedly, a homely scrap of paper, to the extent that millions of dollars change hands? There's a bit of megalomania in some, a desire for profit in others, and in one case (John Du Pont, later convicted of murder), madness. All in all a good read for non-collectors, a great one for stamp lovers.
    • 4/5
      A wonderful book for stamp collectors of various ages and experience. Provides history of the stamp and the historical path it has taken. Well known collectors and previous owners are included. Very informative and should be considered the gift for any stamp collector.
    • 3/5
      I received this book as an early reviewer copy in exchange for an honest review. I enjoyed this book. It was a fun, easy read. Something I would characterize as a summertime read with a little more heft. It wasn't overly technical or dry; I definitely appreciated this considering the world of stamp collecting is not one I am familiar with. It read like a long newspaper article, or perhaps a series of newspaper articles on the same topic, but not in a bad way. I just thing this is the best way to describe the writing style. This little stamp has been owned by some pretty interesting characters throughout its lifetime, and reading about them was quite the journey. I would recommend this book to any who is looking for an interesting story in the most unexpected place.
    • 4/5
      Back in 1840, the postmaster in British Guiana ran out of stamps. The shipment hadn't arrived from Britain, and he needed to figure something out. So he hired the local newspaper printer to make some stamps - little magenta squares of paper, not very impressive at all. A few years ago, the only surviving copy of this One-Cent Magenta sold for nearly $10 million. So what makes a little square of paper so valuable? Well, welcome to Stamp World. James Barron's One-Cent Magenta tells a fascinating story of the stamp and the people who wanted it. Like the 12 year old searching through old family letters to fill out his collection. Or the collector who filled a vault by buying up others' collections. And really, it's the people that make the book.
    • 5/5
      I was one of those many kids who started collecting stamps, and while I have not pursued collecting any further, it still fascinates me. I actually had not heard of the one cent magenta (although I knew about the inverted jenny), but the book cover indicated that this stamp is the most valuable one in the world, so I had to read about it. I thoroughly enjoyed this book. I had no idea that the world of high dollar stamp collecting was so involved. While I enjoyed reading about the one cent magenta, I like the way the author provided more information about stamp collecting in general and gave information on other rare, valuable stamps. I like a book that inspires me to learn more, and this book did just that, giving me a glimpse of a world ("Stamp World") that I didn't know existed. The only thing I struggled with was the chronology. I felt that there was a good bit of jumping around, time-wise, with the narrative. I thought I would be at one point in the narrative only to find that I had actually gone back several decades in my reading. The book is interesting and informative.
    • 5/5
      If you are a member of Stamp World as the author calls folks who know and love postage stamps, then you will adore this book. It is fascinating history about the be-all to end-all stamp (which I got to see in person in Washington DC!!!!) and how it got to be so famous when it really isn't much to look at.If you are not a person who has a love of postage stamps but has a love of history, you probably will enjoy this book but some of the glamour may be lost on you. Stamp World is a special place after all.If you don't go for stamps or history but just like to hear about the beauty of the sale... as in auctions... you'll like some of it and some of it you will skip.Totally worth the time for a philatelist. Well done!
    • 5/5
      The release of new postal stamps on the market is exciting especially if it is your hero or heroine. I've had my favorite stamps. However, I never thought about the stamps which become collector items. For example, where is their country of origin? That's why "The One - Cent Magenta" by James Barron is a very gripping book to read. Some of the collectors know they have a treasure and other collectors like Harry Vaughn, a twelve year old, have no idea what they have in their hands. That makes for eccentric people and pretty ordinary people who choose to become stamp collectors.I have to start with the twelve year old. He paid sixteen dollars and some cents for his magenta stamp. At the exact opposite side of the totem pole is the businessman who walks around with a briefcase chained to his wrist. Inside is the stamp that is a rarity.Along the way, there are many fun facts in this non-fiction book about a very, very valuable stamp with a strange color. Groucho Marx, the Fifties talk show host, discusses the stamp and collecting on his show. When other people talk about it, the place becomes important. British Guiana and lo and behold a religious massacre whose leader is Jim Jones.I now know stamps have a history. They are one of the items that can become cherished because of an error or two. Once a biplane was turned upside down on a stamp. That's a keeper. When I kept stamps, I didn't know to compare one lot by looking for an eye closed and one eye open or a flag missing a stripe or pineapple. What were you suppose to do with these little items other than slip the squares under plastic and inside a loose leaf book. On a rainy day, you could just pull them out and admire a moon, Nineteenth Century dress or a bicycle. Boring!Believe me, these people make Philately exciting. When can I visit British Guiana?Posted 2 hours ago by Tea NormanView commentsLoadingDynamic Views template. Powered by Blogger.
    • 4/5
      Although someone might think reading an in-depth tale of the world's most valuable stamp would be a bore, that person could not be more wrong when it comes to the story of The One-Cent Magenta. I have never been an avid collector, nor do I know anything about stamps, but this book is nevertheless an interesting read from beginning to end. I enjoyed the wit and humor that Barron brought to the work, which included highlighting the fascinating characters who played a role in the Magenta's long life. The story is as much a look at the world of stamps as it is the people behind those stamps and their often quirky and unique personalities. While possessing a bit more extensive knowledge about stamps might be a bonus for reading this book, especially when Barron goes more in-depth about philately (the collection of stamps), even the newbies like myself can find something to enjoy in the story - after all, haven't we all experienced the zealous pursuit of something out of our reach? Even if the reader feels like they can't relate, if you're searching for a conversation starter at a dinner party, perhaps lead with: "Hey, do you know which is the rarest stamp in the world?"
    • 4/5
      The author has taken on a Herculean task in trying to make a book about a postage stamp interesting. After all, philatelists are not known for being wild and crazy guys. Perhaps a bit off their rocker as we shall see but not exactly party animals. After the background on the stamp has been covered the titles of the chapters are the amounts the stamp has sold for and each gives background on the buyer so essentially 8 of the 11 chapters are as captivating as the owner.The portrayed stamp was created by a local postmaster fearing that a shipment of stamps would not arrive in time from England. As any stamp dealer will tell you, the odds of finding a rarity in a bunch of loose stamps is a million to one shot. But that's where the stamp was originally found by a newbie 12-year-old collector who sold it for the kingly sum of 6 shillings or the inflation adjusted value of $17. Early on the stamp passed through the hands of collectors but as the value continued to skyrocket it became the property of people who were rich enough to the extent that they didn't know what on earth to do with their money. Since only one copy exists it became an ego trip for some Daddy Warbucks to say he owned the rarest stamp in the world. One of the owners after a while to say in nautical terms didn't have both oars in the water and became convinced somebody was moving the trees around in his yard. Another had the nasty habit of smoking a cigar while taking a look at his prized possession introducing the possibility that a bit of stray ash might make it cease to exist.If you know what philately is you'll enjoy this better than most. Otherwise you will most likely not have your socks knocked off by excitement.
    • 3/5
      The one-cent magenta from British Guiana is the most valuable stamp in the world but it is not because it is attractive or amazing. In fact, the book many times describes it as being ugly. When I recently saw it at the U.S. Postal Museum in Washington, D.C. I wondered what all the fuss was about. It is so faded away that you can barely make out that it was a stamp at all. It is valuable solely because, as one of a kind, it is highly desired by rich eccentrics, in what the author calls Stamp World, a world where an object can command enormous amount of money solely because it is unique. It is a place where a small, illegible piece of paper can be worth more that a Picasso or a Van Gough painting, which themselves are also one of a kind.The finding of the stamp is not much of a story so Mr. Hoffman concentrates on the lives of those who have owned it. While some of them are interesting people, such as the murderer John DuPont, most did not lead interesting or compelling lives. The book is a breezy, light read but has the feel of an extended magazine article. As a former stamp collector who had heard of the stamp, I found the book interesting. I had always wondered about its background. Those with absolutely no interest in stamps or stamp collecting will probably not care for it.
    • 3/5
      An enjoyable book in general. I liked the author's prose and pace and it made for a quick read. However, it seems to wander pretty far afield in some of the chapters. It truly felt like the author was trying to force material into the chapter to make them a reasonable length.
    • 5/5
      The One Cent Magenta by James Barron depicts the quest to own the most valuable stamp in the world. Combining facts and a great story this book reads much the same way as does the Secret Life of Lobsters and The Perfect Storm.One-cent magentas were provisional stamps that were printed quickly in the 1850's in what was then British Guiana when a shipment of official stamps, arriving from Great Britain, was delayed. The original stamp was issued for one penny. In 2014 the same stamp sold for nearly 9.5 million dollars.This book depicts the history of that stamp and it's nine owners over the course of the last 165 years. In a very informative, and often times humorous manner, the history of it's owners and of stamp collectors worldwide are woven into this fact and fun laden narrative.Name's of collectors and enthusiasts such as the royal Philatelic Society London, (The Royal), John Lennon, Freddie Mercury, Amelia Earhart, James Michener, Jacques Costeau, Bela Lugosi, Jack the Ripper, John E DuPont and many others surface throughout the book.This book is a must read for anyone who has ever collected anything as well as those who appreciate a great story. Loaded with quirky facts and personalities, it will appeal to both fiction and non fiction enthusiasts.
    • 4/5
      A pleasant recount of the changing-of-hands of the only stamp of its kind. The story is less about the stamp, and focuses on the people who decide to buy it, driving its auction price up successively so that it becomes "the most valuable stamp in the world."I believe the author doesn't find his true connecting theme until the very end, when he discusses what drives people to build collections. "The real value of a piece lies not in its auction price, but in the importance it has in the collection." To acquire unique items, or to build a collection of items that, while perhaps objectively ordinary, become uniquely your own. This is the psychological nub toward which Barron frequently gestures but doesn't really highlight sufficiently to make this book as rewarding an intellectual history as it could have otherwise been.
    • 4/5
      A crisp, short read, THE ONE-CENT MAGENTA is told by James Barron, a journalist, and seems more like a lengthy magazine article (think Vanity Fair quality) rather than a full-length book. Still, that is probably why most readers will start and finish this work. Because it reads at a good pace, one keeps thinking something dramatic is going to happen. Nothing dramatic ever happens. Yes, the rare stamp goes up and up in price over the years, but that is about all the excitement we get. Oh, there is a murder along the way, but Barron doesn't go into it in much depth as it has nothing to do with the stamp or the procuring of the stamp. Still, it seems that a little probe into that story might have added some other interest to the book. Certainly Du Pont was one of the more intriguing owners of the one-cent magenta stamp, the stamp about which the book has been written.In the end, it seems that there is nothing really fascinating about the one-cent magenta. It isn't particularly attractive; it is only rare. Barron does make us contemplate on the value of rarities. We start thinking of other things rare: exotic animals, coins, a certain piece of antique furniture, an unknown work by a known artist, and even rarities in the general population: generosity, true goodness, kindness, thoughtfulness. The idea of rare really strikes home with us. More than that, we come to wonder about the philatelists, otherwise known as stamp collectors. Are they a strange breed? What makes them different from, say, coin collectors or art collectors or those who collect guns? Barron seems to find philatelists an odd group, although he is careful not to dissect them. He has polite exchanges with all he meets while researching the book, and he seems to have had an enjoyable time studying and writing about the field. Still, the feeling lingers - right to the end - that Barron found himself in strange world full of strange people pursuing either the enchantment of "little patches of art" from around the world or else bored, selfish men with huge expendable incomes speculating about future gains. Which is it? Or is it both? Each reader will make up his or her mind after reading THE ONE-CENT MAGENTA. The bet is, though, that even if one is not a stamp collector and even if one doesn't find Barron's book exciting, the ONE-CENT MAGENTA will prove to be a fast, easy, and fairly enjoyable read.
    • 4/5
      As a collector, in my case baseball cards, I was very interested in the motivations behind other collectors and this book covered this plus much more. The story of the stamp was fascinating and some of the more technical aspects of stamp collecting, such as how a stamps authenticity can be determined, was enlightening. Moreover, the process of obtaining rare stamps and the auction process was described. However the most interesting parts of the book were the chapters devoted to each one of the owners. They were quite interesting and very unique characters. Of course the owners were the rich and famous and it was interesting to learn how they obtained their wealth, some inherited their wealth and some built it themselves. Overall this book is a must read for all collectors but also would entertain non-collectors. This book was a pleasure to read.
    • 5/5
      I received a free copy of this book through the LTER give-away. I was amazed at how much I enjoyed reading 224 pages about a very dry subject.... The author made the whole story of this strange stamp come to life. It was neat to read who owned this rare stamp through the ages and how it affected their lives. This is not only a book for people intersted in stamp-collecting.
    • 5/5
      I honestly didn't think I would find myself as captivated as I was. James Barron has done a marvelous job delving into the history of the world's most coveted (and expensive) stamp. Collectors and non-collectors alike will find it as fascinating as I did. By the book's end, I too questioned the human desire to collect and looked long and hard at my own life's collections. I received a free copy in exchange for an honest review.
    • 4/5
      This is an entertaining look at the world of philately and the life cycle of the one cent magenta, the most expensive stamp in the world. Having been a stamp collector I understood much of the jargon and was aware of the stamp exhibitions, having attended some locally.But, if you have no background in stamp collection I am not sure you would understand the magnitude of this stamp in the history of philately. The book is written as if it were hosted on entertainment television and although enjoyable and a quick read it is not what I expected. It would have been interesting as a mystery instead because much of its history is shrouded in mystery and intrigue.
    • 3/5
      I began this book with a fair bit of anticipation. Like many people I collected stamps when I was younger, and like many people you never quite get over those early loves of life. Stamps interest me. This book, unfortunately came with a rough start; The author's style of telling the story in his imaginary "Stamp World" put me off from the first page - perseverance will reward the reader with some interesting history if you don't get too bothered by the odd writing quirks which mostly recede after the start. The story at times really isn't so much about the stamp but more about the history of postal systems, stamps in general and about stamp collectors - although we get some interesting looks into the Royals as well as how stamps are expertised - it is also about the world of the very rich and/or odd who must have something no one else has, as well as the auctioneer who promotes these things. In this case it is a stamp - it could be the rarest book, painting, diamond, comic book or even Pokemon I suppose. I learned a lot of interesting history and trivia reading this and overall was glad to have read this. However I was baffled by the complete lack of photographs or illustrations in the book. To me as a reader this was a rather glaring omission. I read an advance review copy, but noted no placeholders. Perhaps photos will be included in the published edition.I received this book as part of the LibraryThing early reviewers program in exchange for a review. 2 1/2 - 3 stars
    • 5/5
      This is a really entertaining short (3-hour) read, even for people not especially interested in stamp collecting. The author has obviously done a lot of research but does not inundate the reader with a lot of superfluous facts. Instead it's a collection of short bios about a disparate but interesting group of characters who shared the desire to own an especially valuable stamp, for a variety of reasons. Offering both keen insights into what drives collectors and what makes a collectible truly valuable, this was well worth the read. My only regret is since I received the advance copy to review, there were no photos of the stamp or the collectors. I hope there will be in the published version.
    • 5/5
      A fascination view inside the world of rare stanps and collectors of them. This was an easy read, the only a little bit annoying this was the begiinging of each chapter with the story of the "current" owner and then revealing the background to the story. I did like it, especially as I used to collect stamps as a child.
    • 3/5
      Interesting look into "Stamp World", the world of philately. We are given a short history of this unique stamp--the 1856 one-cent "provisional" magenta stamp from British Guinea [now Guyana]. A provisional stamps means it is a substitute for the real thing, printed by, say, a newspaper, because the postmaster was afraid a shipment of genuine stamps would not arrive from the mother country. We follow the trail of the eccentrics who owned the stamp through the years to today. It is worth now nearly $10 million. Obsessive collectors were willing to pay high prices for something absolutely unique, that no one else had, to give themselves a psychological "high". We view the post through the ages, from Cyrus of Persia and its subsequent development, the invention of the stamp, the rise of philately, with a peek into an auction house and how bidding proceeds.This could have been a magazine article, but I feel it was padded to make it book-length, no matter how fascinating the details were. Style was casual and breezy, what you'd expect from a journalist. I thank Goodreads for sending me an ARC in return for an honest review.