| March 19
March 19 Bill Gross, who heads the world's
largest mutual fund, will offer some items from his rare U.S.
stamp collection for the first time in a public auction
conservatively estimated to bring $1.5 million to $2 million.
All proceeds from the April 9 sale, which takes place in New
York, will be donated by Gross and his wife, Sue, to Doctors
Without Borders/Médecins Sans Frontières (MSF) and the
Millennium Villages Project at Columbia University's Earth
"This is the first time Mr. Gross has ever offered stamps
from his famous U.S. collection which is the finest, most
valuable collection of U.S. stamps and postal history owned by a
private individual," said professional philatelist Charles
Shreve, who will conduct the auction with his ex-wife, Tracy
Shreve. The Shreves have advised Gross, whose net worth is over
$2.3 billion according to Forbes magazine, for two decades.
Gross, who as founder and co-chief investment officer
oversees $2 trillion at bond firm PIMCO and runs the PIMCO Total
Return Fund, is auctioning off some items that date back to
1847, the first year the United States issued postage stamps.
One of the postal history items is a letter mailed in 1851
with an 1847 10-cent stamp neatly cut in half and used in place
of a five-cent stamp. It has an estimated value of $15,000 to
Another up for auction is a four-page letter with early
Hawaiian and U.S. postage stamps that was written and mailed
from Honolulu in 1854 by Maria Whitney Pogue, the first
missionary child born in Hawaii. It is estimated at $50,000 to
Gross, whose mom collected stamps in the late 1930s in
anticipation of her three kids going to college, said in a
statement: "It's my hope that a new generation of collectors
will carry on deriving the same great pleasure from these items
that I enjoy."
Gross's stamp collection will be auctioned at the Robert A.
Siegel Auction Galleries (www.SiegelAuctions.com) in New York