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. Another highlight is a four-page letter with ea...