Wednesday, December 16, 2009

Investor William H. Gross Does It Again!

Stamps sold for $3.2M to benefit Smithsonian

Washington Post - Sunday, November 29, 2009; 2:12 PM 
 
Investor William H. Gross has sold two of his major stamp collections to benefit the Smithsonian's National Postal Museum, which plans to build a new street-level gallery.

The stamps from Confederate postmasters in the Civil War and from British North America postal history sold last week for $3.2 million at auction in New York City. The proceeds help fulfill an $8 million donation to the museum that Gross announced in September.

He also has given the museum some of the rarest known stamps from his personal collection.
Gross is the founder of Pacific Investment Management Co., based in Newport Beach, Calif.

The museum's expansion from a basement space near Washington's Union Station is scheduled to open in late 2012. A gallery will be named in Gross' honor.

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