The Stefano Fantaroni Collection of The Kingdom of Italy

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

8 JUNE 2016

NEW YORK

GROUP CHAIRMAN AND CEO Olivier D. Stocker YOUR SPECIALISTS STAMPS UK - Tim Hirsch FRPSL Guy Croton David Parsons Nick Startup Neill Granger Paul Mathews Dominic Savastano Tom Smith George James Ian Shapiro (Consultant) USA - George Eveleth Richard Debney EUROPE - Guido Craveri Fernando MartĂ­nez CHINA - Doris Lo George Yue (Consultant) COINS UK - Richard Bishop Tim Robson Malene Wagner Lawrence Sinclair Barbara Mears John Pett USA - Greg Cole Muriel Eymery Stephen Goldsmith (Special Consultant) CHINA - Kin Choi Cheung Paul Pei Po Chow BANKNOTES UK - Barnaby Faull Andrew Pattison Monica Kruber Thomasina Smith USA - Greg Cole Stephen Goldsmith (Special Consultant) CHINA - Kelvin Cheung Paul Pei Po Chow ORDERS, DECORATIONS, MEDALS & MILITARIA UK - Mark Quayle Oliver Pepys Marcus Budgen John Hayward (Consultant) BONDS & SHARES UK - Mike Veissid (Consultant) Andrew Pattison Thomasina Smith USA - Greg Cole EUROPE - Peter Christen CHINA - Kelvin Cheung BOOKS UK - Philip Skingley Gillian Watson Nik von Uexkull AUTOGRAPHS USA - Greg Cole Stephen Goldsmith (Special Consultant) WINES CHINA - Guillaume Willk-Fabia Angie Ihlo Fung YOUR EUROPE TEAM (LONDON - LUGANO) Directors Tim Hirsch Anthony Spink Auction & Client Management Team Mira Adusei-Poku Rita Ariete Grace Hawkins Dora Szigeti Nik von Uexkull Tom Hazell John Winchcombe Tatyana Boyadzhieva Maurizio Schenini Finance Alison Bennet Marco Fiori Mina Bhagat Dennis Muriu Hemel Thakore Veronica Morris IT & Administration Berdia Qamarauli Luis Pinto de Dios Liz Cones Curlene Spencer Tom Robinson Cristina Dugoni Giacomo Canzi YOUR AMERICA TEAM (NEW YORK) Managing Director Charles Blane Auction Administration and Marketing & Design Polona Hribovsek Finance & Administration Amit Ramprashad Auctioneer Stephen Goldsmith (Special Consultant) YOUR ASIA TEAM (HONG KONG - SINGAPORE) Administration Angie Ihlo Fung Newton Tsang Sue Pui Arthur Chan Doris Lo Gary Tan

Ken Imase kimase@spink.com

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY June 8, 2016 in New York City, New York and on

SALE LOCATION

YOUR SPINK TEAM FOR THIS SALE

SPINK USA 145 W. 57th St., 18th Floor New York, NY 10019 tel 212/262-8400 fax 212/262-8484

FOR YOUR QUESTIONS ABOUT THE SALE LOTS

George Eveleth geveleth@spink.com 410-852-8375

SALE DETAILS Wednesday, June 8, 2016 at 1.30 p.m. (Lots 1201-1344)

VIEWING OF LOTS

FOR YOUR BIDS AND PAYMENT

NEW YORK CITY May 28 to June 4, 2016 at World Stamp Show, New York, N.Y. Jacob Javits Convention Centre, Halls 3B, 3D, 3E Spink Superbooth 1321 And At our offices Monday, June 6, 2016 10:00 a.m. - 5:00 p.m.

Tuesday, June 7, 2016 9:00 a.m. - 4:00 p.m.

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Front Cover Illustration: 1236

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THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

CATALOG KEY SYMBOLS ᗂ ᗂᗂ (ᗂ) H J L

MINT (O.G.) OR UNUSED AS ISSUED MINT-NEVER HINGED UNUSED (WITHOUT GUM OR REGUMMED) USED BLOCK OF FOUR OR LARGER ON PIECE COVER, CARD OR ON ENTIRE GRADED CANCELLED

១

©

BK BP E P PB R S TC

COMPLETE BOOKLET BOOKLET PANE ESSAY PROOF PLATE BLOCK REPRINT SPECIMEN TRIAL COLOR PROOF

ms. n.h. o.g. ovpt. pmk. s.e.

MANUSCRIPT

ABBREVIATIONS c.d.s. cplt. fdc h.r. h.s. incl.

CIRCULAR DATE STAMP COMPLETE FIRST DAY COVER HINGE REMNANT HANDSTAMP INCLUDING

NEVER HINGED ORIGINAL GUM OVERPRINT POSTMARK STRAIGHT EDGE

CONDITION EXTREMELY FINE VERY FINE

-

-

OUTSTANDING, THE HIGHEST QUALITY POSSIBLE. CHOICE CONDITION, WELL CENTERED; IF IMPERFORATE WITH FOUR WELL CLEAR MARGINS.

FINE

-

SOUND IN ALL RESPECTS, PERFORATIONS CLEAR DESIGN; IF IMPERFORATE MARGINS MAY BE CLOSE OR TOUCHING, BUT WILL NOT CUT DESIGN.

VERY GOOD

-

STAMPS ARE SO GRADED EITHER BY REASON OF GENERAL APPEARANCE OF IMPERFECT CENTERING OR A FAULT.

At all times any faults such as a crease, tear, thin spot, etc. will be specifically described. In collection lots and balances the condition described is meant to indicate the overall average to be found. Examples above and below the condition listed can be expected.

Typically we do not describe minor perforation separations on blocks or sheets as these are quite normal and are not grounds for their return. In regard to covers, torn or partially missing black flaps, light filing folds and small edge tears, unless they affect the adhesive or markings, are not justification for the return of a lot.

CATALOGS USED The catalog numbers and catalog values of the contents of the lots, given in the descriptions, are from the 2016 Scott Classic Specialized Catalog of Stamps and Covers and the 2016 Sassone catalog.

ESTIMATES If an Estimated cash value is given, it is shown in the descriptions with the abbreviation “Est.” Estimates, which are in United States dollars, are used when a lot is large or when it is not listed in the standard catalogs. Our estimates are typically conservative and the lots invariably realize in the estimate ranges or higher.

WWW.SPINK.COM

June 6, 2016 - USA

Wednesday, June 8, 2016 Commencing at 1.30 p.m.

Spink USA, New York, N.Y.

ITALIAN STATES LOMBARDY-VENETIA

1201 1201 #

#4g, 1854 15c Pale red, Ty. III, machine-made paper, attractive and scarce mint single, bright color and sharp impression, full balanced even margins all around, o.g., very fine and choice example of this period with original gum; signed by Raybaudi and accompanied by his 1998 certificate; (Sassone #20c, â‚Ź3,750.00). (photo)

3,750.00

1202

1202 #

#8a, 1858 3s Black, Ty. I, well centered mint single with wide balanced margins, intense black color and nice impression showing this early type well, certificate states large part o.g. which we believe to be quite substantial, h.r., very fine and an exceptionally scarce mint value; signed by Oliva and Colla and accompanied by 2013 Colla certificate (Sassone #24; â‚Ź12,000.00). (photo)

3

6,750.00

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

1203 1203 #

Sassone #9, 1858 (1.05s) Gray lilac Newspaper stamp, mint right margin single with full to wide margins on the other three sides, fresh attractive color, full o.g, h.r., choice very fine; signed by A. Diena (Scott listed as Austria #P6; $850.00, but also used in Lombardy Venetia). (photo)

€8,000.00

MODENA

1204

1204 ##/#

#1-5, 1852 5c-40c Coat of Arms, without period after value cplt., a lovely mint first issue set for all five values, all with nice balanced margins all around showing dividing lines on one or more sides, each with a detailed impression of fresh colored paper, all with full o.g., 15c and 25c are never hinged, very fine; all are signed by various experts, 5c is signed

by A. Diena and Raybaudi with the latter’s 1911 Gold certificate, the 10c is signed by A. Diena, E. Diena and Vaccari and accompanied by 2012 Vaccari certificate (Sassone #1-4, 6; €7,440.00). (photo)

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4,137.00

June 8, 2016 - USA

1205 1205 u

#PR4, 1857 10c Black on gray violet, well clear to large margins with portions of the dividing lines on two sides, tied to December 31, 1857 issue of “Gazzetta di Genova” newspaper by blue Genoa c.d.s., minor fold flaws to folds as usual, otherwise very fine and a nice usage of this newspaper tax stamp; signed by A. Diena (Sassone #4; €2,400.00). (photo)

1,650.00

NAPLES

1206 1206 #

#2a, 1858 1gr Rose lake, plate II, an especially attractive mint single, h.r., large wide margins all around showing full dividing lines on three sides, strong color and impression of the plate II printings, extremely fine and scarce in this premium quality; signed by A. Diena, Oliva, A. Brun and others (Sassone #4; €1,500.00). (photo)

5

725.00

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

1207 1207 #

Sassone #3a, 1858 1gr Lilac rose, Plate I, mint right margin single with with full dividing lines on three sides and full margin at left, very fresh and nice shade in the pale impression of plate I, full o.g., small h.r., very fine and choice; signed by E. Diena and accompanied by his 1989 certificate (Scott #2 var.; $1,050.00+ for the normal pale lake shade). (photo)

€3,250.00

1208

1208 #

Sassone #8c, 1858 5gr Pale rose, Plate I, a nice shade variety of this scarce mint value, clear to large margins with three full dividing lines, o.g., h.r., light natural gum crease not mentioned on current certificates, otherwise very fine; signed by Ferrario and Colla and accompanied by clear 2015 generic certificate for #8 of Ferrario and clear 2015 Colla certificate (Scott #4 var., $3,600.00 for normal brown lake shade). (photo)

€7,000.00

ROMAN STATES

1209 1209 H

Sassone #11a, 1852 1S Dark rose carmine, handsome and scarce used example of this high value, well margined and possessing strong color and detailed impression, cancelled with scarce “Roma/13 Feb 54” c.d.s. postmarks which are much scarcer than the normal grid cancels, very fine and attractive; signed “A . Diena” and “E. Diena” signatures plus signed by Colla and one other, and accompanied by 1973 A. Diena and 2015 Colla certificates (Scott #11var.; $3,600.00 for normal shade and cancel). (photo)

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€8,500.00

June 8, 2016 - USA

SARDINAI

1210 1210 #

#1a,1851 5c Black, a choice mint single of this rare first issue, possessing intense black color on fresh white paper, very well margined with full balance margins all around that are seldom found on this tight margined stamp, large part o.g., h.r., very fine; a premium example of an immensely elusive stamp that is rarely encountered with even part original gum; signed by E(milio) Diena and Colla and accompanied by 2012 Colla certificate (Sassone #1; €27,500.00). (photo)

14,750.00

TUSCANY

1211 1211 #

#13a, 1857 2cr Greenish blue, exceptional mint single with well clear to huge margins showing a portion of the adjacent stamp at top, fresh color and detailed impression, full o.g., h.r., choice very fine; a difficult stamp in this premium quality; signed by R. Diena with his 2001 certificate (Sassone #13a; €5,500.00). (photo)

4,750.00

ITALIAN STATES COLLECTION BALANCE 1212 ##/ 1212 #HLu

Italian States small balance of selected mint and used items from the various states, includes thirteen mostly used and two covers of Lombardy Venetia, includes six postally used revenues with a 15c on cover signed by A. Diena, there are four covers with first issue Modena, seven used values of Naples, plus several items from three other states, most are nice quality being fine-very fine and often signed by various experts, also includes seven mint values of first issue San Marino, all with o.g. and several never hinged (Sassone over €12,0000.00).

7

Est. 1,500-2,000

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

KINGDOM OF ITALY 1862 ISSUE

1213 1213 #

#17, 1862 10c Bister, position 35, attractive mint single, possessing rich color and strong embossing, full o.g., l.h., typical centering for this about fine; a very scarce and key value of the first issue; signed by S. Sorani and accompanied by his 2009 certificate (Sassone #1f; centratura mediocre €7,500.00). (photo)

8,000.00

1214 1214 L

Sassone #1I, 10c Yellow bister, imperforate in bottom margin, bottom sheet margin single with line imperforate between the stamp and selvage, an unusually well centered example of this scarce variety with well clear and perfectly balanced margins on the other three sides, tied to piece by “Vittoria/17 Nov 62” c.d.s., choice very fine; a rare variety and in premium quality with choice centering and tied to piece; catalog value for used example only; signed by A. Diena and Oliva (not listed in Scott). (photo)

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€8,000.00

June 8, 2016 - USA

1215 1215 u

#17, 1862 10c Bister, first issue Italy in mixed franking with Sardinia 5c Green (#10) tied to 1863 clean folded cover to Codogne by “Modena/11 Gen 63” c.d.s., backstamped, the perforated stamp is well centered with pre-affixing pulled corner perf at top right, 5c with full wide margins, very fine and nice usage (Sassone €2,250.00). (photo)

Est. 300-400

1216 1216 u

#17, 1862 10c Bister, first issue Italy in mixed franking with Sardinia 5c Green showing a light second head embossing (#10 var.), tied to 1863 cover to Menaggio by “S. Severno/22 Apr. 1863” c.d.s. with additional strike at left, Naples transit and backstamped, the perforated stamp is quite well centered, the 5c value with full wide margins, very fine and desirable (Sassone €2,250.00). (photo)

9

Est. 300-400

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

1217 1217 u

1218 u

#17d, 10c Dark brown, attractive single franking of this very scarce shade variety, tied to 1862 folded cover (bottom backflap missing) to Scansano by “Siena/21 Ago 62” c.d.s. with additional strike at left, quite well centered for this issue, very fine; signed by E(nzo).

Diena; (Sassone #1d; €5,500.00). (photo)

3,250.00

#17-20, 10c-40c First issue cover collection of twelve folded covers and entire letters plus one front, most are single frankings including two 10c values on single franking covers and a third in mixed franking with imperforate 5c Green of Sardinia, six single franking covers with 20c Dark blue and three with 40c Red plus a front, overall fine-very fine and a nice lot of this early perforated series (Sassone #1-3; €9,025.00).

Est. 1,000-1,500

1863 ISSUE

1219 1219 ##

1220 ##

1220

Sassone #12, 1863 15c Blue, Ty. I, fresh mint single with deep color and impression showing this scarce type well, full to large margins all around, o.g., n.h., very fine; signed

by Raybaudi and accompanied by his 2004 certificate (Scott #12; not priced never hinged). (photo)

€1,250.00

Sassone #12a, 1863 15c Pale blue, Ty. I, mint single with well clear to large margins, fresh color in the pale shade, o.g., n.h., very fine; signed by Oliva and accompanied by his 2002 certificate (Scott #12d; $300.00 for hinged, not priced never hinged). (photo)

€1,250.00

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June 8, 2016 - USA

1221 1221 u

#23, 1863 15c Blue, TY. II, horizontal pair with full wide margins, in mixed franking with 5c Green on the right and 40c Red of Sardinia (#10, 13), tied to registered 1863 cover to Ceglie by “Monopoli/12 Nov 1863� c.d.s. with an additional strike at right, cover with portion of backflap missing from removal of wax seals slightly carrying to the front, a fine and very rare mixed franking; signed A. Bolaffi (Sassone # 13, Sardinia #13E, 16F). (photo)

11

Est. 750-1,000

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

1863-1865 ISSUES De La Rue Printing

1222 1222 ##

Sassone #L14, 1863 1c Gray green, London printing, lovely mint single, exceptionally fresh with excellent color and impression on bright paper, o.g., n.h., actually better than normally found, fine and attractive; signed by A. Diena and accompanied by 1984 Enzo Diena certificate for a vert. pair, this being the bottom stamp, plus 2009 Ghiglione certificate as a single (Sassone centratura discreta; Scott #24; London printings are not listed mint). (photo)

€1,400.00

1223 1223 ##

Sassone #L15, 1865 2c Brown red, London printing attractive mint single, exceptionally fresh with deep color and detailed impression on white paper, o.g., n.h., select centering for this difficult value, fine; signed by Raybaudi and accompanied by his 2009 certificate (Sassone centratura discreta; Scott #25; London printings are not listed mint). (photo)

€8,000.00

1224 1224 ##

Sassone #L16, 1863 5c Greenish gray, London printing, select mint single, possessing better than the usual centering for this issue, fresh with bright paper and full perforations all around, o.g., n.h., nearly very fine for this; signed by A. Diena and Ghiglione and accompanied by the latter’s 2008 certificate (Sassone centratura discreta; Scott #26; London printings are not listed mint). (photo) WWW.SPINK.COM

€6,000.00

June 8, 2016 - USA

1225 1225 u

Sassone #L16, 1863 5c Greenish gray, London printing, an impressive block of eight (2x4) tied to 1866 folded cover to Sammarco Argentano by numeral “1661” cancels with “Paola/25 Ago 66” c.d.s. at right, backstamped, a fine and very scarce franking being even scarcer than a block of four used on cover; signed by A. Diena, Zansria and Mondolfo (Sassone €1,500.00 for a block of four on cover). (photo)

Est. 200-300

1226 1226 ##

Sassone #L17, 1863 10c Orange ocher, London printing, scarce mint single, exceptionally fresh with bright color and paper, excellent London impression, o.g., n.h., centering is much better that the typical centering found on this value, fine and scarce in this premium quality; signed by R. Diena and one other, and accompanied by 1999 Diena certificate (Sassone centratura discreta; Scott #27; London printings are not listed mint). (photo)

13

€11,000.00

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

1227 1227 ##

Sassone #L18, 1863 15c Light blue, London printing, pristine mint single, clear impression with fresh color on bright paper, o.g., n.h., better centering than normally found on this scarce value, fine and a handsome stamp; signed by Raybaudi and accompanied by his 2006 Gold certificate (Sassone centratura discreta; Scott #29; London printings are not listed mint). (photo)

€8,500.00

1228 1228 #

Sassone #L19, 1863 30c Brown, London printing, a select mint example of one of the scarcest values of the London printings, deep color and impression on fresh paper, full even perforations all around, well centered that is much better than normal, o.g., l.h., nearly very fine for this; signed by Giulio Bolaffi and Enzo Diena and accompanied by 1986 Diena and 1993 Toselli certificates, the later graded 100/100 (Sassone centratura discreta; Scott #30; London printings are not listed mint). (photo)

€8,500.00

1229 1229 #

Sassone #L20, 1863 40c Rose carmine, London printing, quite well centered mint single for one of the scarcest values of the London printings, fresh color and detailed impression on bright paper, o.g., fine; signed by A. Fiecchi and Raybaudi and accompanied by 1978 Fiecchi and 2011 Raybaudi Gold certificates (Sassone centratura discreta; Scott 31; London printings are not listed mint). (photo) WWW.SPINK.COM

€8,500.00

June 8, 2016 - USA

1230 1230 ##

Sassone #L21, 1863 60c Light lilac, London printing, an especially fresh mint single with lovely pastel color on white paper, quite well centered for this and surrounded by full even perforations, o.g., n.h., attractive fine example; 1996 Bruno Oliva certificate for a never hinged block of four, this being the bottom right stamp (Sassone centratura discreta; Scott #32; London printings are not listed mint). (photo)

â‚Ź1,400.00

1231 1231 ##K

Sassone #L21, 1863 60c Light lilac, London printing, pristine mint block of four, quite well centered for this and surrounded by full even perforations, attractive bright color, o.g., n.h., a fine and attractive block of four; quite rare in this choice quality and still retaining its fresh never hinged gum; signed by Fiechi and and R Diena and accompanied by 1960 A. Fiechi and 2007 Diena certificate (Sassone centratura discreta; Scott #32; London printings are not listed mint). (photo)

â‚Ź10,890.00

1232 1232 ##

Sassone #L22, 1863 2L Light scarlet, London printing, remarkably fresh mint right sheet margin single, brilliant color on bright fresh paper, quite well centered for this issue, o.g., n.h., pleasingly fine; signed by Caffaz in the selvage and accompanied by 2005 Caffaz certificate (Sassone centratura discreta; Scott #33; London printings are not listed mint). (photo)

15

â‚Ź1,200.00

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

1863-1877 ISSUES Turin Printing

1233 1233 ##

#26, 1866 5c Slate green, Turin printing, lovely fresh mint single that is quite well centered and much better than the norm, strong color and detailed impression, o.g., n.h., nearly very fine for this scarcer value; signed by Sorani and accompanied by his 1995 certificate (Sassone #T16; centratura discreta €7,000.00). (photo)

3,650.00

1234 1234 ##

#27, 1866 10c Buff, Turin printing, fresh mint single of this scarce value being better centered than often encountered, attractive buff color, full even perforations, o.g., n.h., attractive fine example of this elusive value in this never hinged condition; signed by Oliva and Raybaudi and accompanied by the latter’s 1997 Gold certificate (Sassone #T17; centratura discreta €11,500). (photo)

6,250.00

1235 1235 #

#28, 1877 10c Blue, the change of color of the earlier King Victor Emmanuel design that was only issued in Turin, deep color on bright paper, o.g., h.r., fine centering and a difficult stamp; signed by Raybaudi and accompanied by his 1990 certificate. (Sassone #27; centratura discreta €10,000.00). (photo) WWW.SPINK.COM

5,850.00

June 8, 2016 - USA

1236 1236 #

#31, 1866 40c Carmine, Turin printing, an incredibly choice mint single of the scarcest of all the values in both London and Turin printings of this issue, deep rich color, o.g., incredibly well centered that is totally uncharacteristic of these issues, choice very fine; a remarkably elusive stamp in this premium quality; signed by Sorani and accompanied by his 2005 certificate (Sassone #T20; centratura ottima €28,000.00). (photo)

6,500.00

1237 1237 #

#31, 1866 40c Carmine, Turin printing, fresh mint single with attractive centering that is far better than normally encountered, excellent color, surrounded by full even perforations, o.g., l.h, fine and a very scarce mint value; signed by Raybaudi and accompanied by his 1986 certificate (Sassone #T20; centratur discreta €12,000.00). (photo)

6,500.00

1865 SURCHARGED ISSUE

1238 1238 ##

#34, 20c on 15c Blue, Ty. ?? (Sassone Ty. III), fresh mint single with bright color on fresh white paper, quite well centered for this, o.g., n.h., fine and attractive; signed by Caffaz and accompanied by that firm’s 2000 certificate (Sassone #25; centratura descreta €2,200.00). (photo)

17

1,300.00

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

1239 1239 ##

#32a, 1865 20c on 15c Blue, Ty. II, the very rare type with dots in the oval but not in the corners, a pristine mint single possessing deep rich colors and excellent impressions of both the stamp and the surcharge, surrounded by full even perforation and much better centering than normally encountered, o.g., n.h. nearly very fine for this; a great rarity in this premium never hinged quality; signed by Raybaudi and Caffaz and accompanied by 2006 Raybaudi Gold certificate and 2009 Caffaz certificate (Sassone #24; centratura discreta €32,000.00). (photo)

17,500.00

1240 1240 ##

#34b, 1865 20c on 15c Blue, Ty. II (Sassone Ty. I), an exceptionally well centered mint single having beautifully balanced margins, attractive color, o.g., n.h., choice very fine; signed by Sorani and accompanied by his 2006 certificate (Sassone #23; centratura ottima €10,500.00). (photo)

3,500.00

1867-1877 ISSUES

1241

1241 ##

1242 ##

1242

#35, 186720c Sky blue, London printing, attractive mint single in the lighter blue shade of the London printing, quite well centered, o.g., n.h., nearly very fine for this; signed by R. Diena and Sorani and accompanied by 2002 Diena and 2005 Sorani certificates (Sassone #L26; centratura discreta €6,500.00). (photo)

3,250.00

#35a, 1877 20c Blue, Turin printing, an exceptionally fresh mint example with deep color on bright white paper, full even perforations all around, quite well centered for this, pleasing fine center; signed by R. Diena and accompanied by his 2001 certificate for a vert. pair, this being the top stamp (Sassone #T26; centratura discreta €2,000.00). (photo)

1,200.00

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June 8, 2016 - USA

1243 ##

1243 #23, 1877 20c Orange, exceptionally well centered example of this scarce value with perforations well clear of the design all around and much better than the vast majority of this difficult stamp, brilliant color on white paper, o.g., n.h., very fine; a rare stamp in this premium quality; signed by G. Chiavarello and Raybaudi and accompanied by 2000 certificates of each, the Raybaudi certificate being his premium Gold certificate (Sassone #28; centratura ottima €23,000.00). (photo)

8,750.00

1878 2C SURCHARGES OF OFFICIAL STAMPS

1244 1244 ##

1245 ##

1246 ##

1245

#38, 1878 2c on 5c Lake, pristine mint single, possessing exceptional centering with full perforations all around, fresh colors, flawless o.g., n.h., very fine and choice; photocopy of 1984 E. Diena certificate for a block of four, this being the bottom left stamp and 1984 Bolaffi certificate as a single (Sassone #30; centratura ottima €2,000.00). (photo)

450.00

#39, 1878 2c on 20c Lake, fresh mint single, strong colors, o.g., n.h., attractive fine centering; signed by A. Bolaffi and Raybaudi with the latter’s 2004 certificate (Sassone #31; centratura discreta €2,750.00). (photo)

1,650.00

#40, 1878 2c on 30c Lake, well centered mint single, attractive excellent colors and impressions, o.g., n.h., nearly very fine for this; signed by Caffaz with that firm’s 2013 certificate (Sassone #32; centratura discreta €2,500.00). (photo)

1,475.00

1247 1247 ##

1248 ##

1246

1248

#41, 1878 2c on 1L Lake, lovely mint single being fresh and pristine, attractive deep colors on bright white paper, o.g., n.h., quite well centered, fine and attractive; signed by A. Diena, Oliva and Raybaudi and accompanied by 2004 Oliva and 2005 Raybaudi certificates (Sassone #33; centratura discreta €2,000.00). (photo)

1,200.00

#42, 1878 2c on 2L Lake, fresh and quite well entered mint single, perforations are well clear of the design all around, deep colors, o.g., n.h., nearly very fine for this; signed by E, Diena with his 1986 certificate (Sassone #34; centratura discreta €2,000.00). (photo)

1,225.00

19

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

1249 1249 ##

1250 ##

1250

#43, 1878 2c on 5L Lake, attractive mint single, deep colors and impressions, quite well centered for this, o.g., n.h., fine; signed by Sorani and accompanied by his 1993 certificate (Sassone #35 centratura discreta €2,750.00). (photo)

1,600.00

#44, 1878 2c on 10L Lake, uncommonly well centered mint single, attractive deep colors and impressions, o.g., n.h., very fine for this; signed by Oliva and Raybaudi and accompanied by 2002 Oliva and 2005 Raybaudi certificates (Sassone #36; centratura discreta €2,000.00). (photo)

1,225.00

1879 ISSUES

1251 1251 ##

1252 ##

1252

#47, 1879 20c Orange premium mint single, incredibly fresh with brilliant color on bright white paper, uncommonly well centered, much better than the vast majority of this issue, surrounded by full even perforations, o.g., n.h., very fine and attractive; signed by Raybaudi with his 2001 certificate (Sassone #39; centratura ottima €5,000.00). (photo)

850.00

#47, 1879 20c Orange unusually fresh with strong color on bright paper, better than average centering, full even perforations, pristine o.g., n.h., fine centering; signed by A. Diena and Raybaudi, and accompanied by 1996 Raybaudi certificate (Sassone #39; centratura discreta €1,400.00). (photo)

850.00

1253 1253 ##

#48, 1879 25c Blue, select mint single, possessing beautiful balanced margins with all perforations clear of the design, fresh bright color, o.g., n.h., very fine; a choice and scarce example in this extraordinary quality; signed by A. Diena and Sorani and accompanied by 1993 Sorani and 1993 Toselli certificates, the latter graded 110/100 (Sassone #40; centratura ottima €11,250.00). (photo) WWW.SPINK.COM

1,600.00

June 8, 2016 - USA

1254 1254 ##

#48, 1879 25c Blue, pristine mint example, deep rich color, full even perforations, o.g., n.h., fine and attractive; signed by Raybaudi and accompanied by his 1992 certificate (Sassone #40; centratura discreta €2,500.00). (photo)

1,600.00

1889 ISSUES

1255 1255 ##

#52, 1889 5c Dark green, pristine mint single, possessing intense deep green color, full even perforations all around, o.g., n.h., fine and scarce; signed by D. Bolaffi, A. Diena and E. Diena and accompanied by 1986 E, Diena certificate (Sassone #44; centratura discreta €2,750.00). (photo)

1,800.00

1256

1256 ##

#54, 1889 45c Gray green, pristine mint single of this scarce value, deep color, better center than often encountered, o.g., n.h., nearly very fine for this; a rare stamp in this select never hinged quality; signed by Raybaudi and accompanied by Raybaudi Gold certificate (Sassone #46; centratura discreta €10,500.00). (photo)

21

6,000.00

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

1890-1891 SURCHARES

1257 1257 ##

#64-6, 1890-91 2c on 5c-20c on 50 Surcharges cplt. on the King Humbert I issue, a very fresh set with strong attractive colors, o.g., n.h., a fine and scarce set never hinged; each signed by E. Diena and accompanied by his 1991 set certificate (Sassone #56-8; centratura discreta €3,320.00). (photo)

2,050.00

1891-1896 ISSUES

1258 1258 ##

#67, 1891 5c Green, select mint example of this scarce value, bright color and fresh white paper, unusually well centered compared to the vast majority of this value and surrounded by full even perforations, o.g., n.h., very fine and elusive in this premium never hinged condition; signed by Raybaudi and accompanied by that firm’s 2003 certificate (Sassone #59; centratura ottima €3,750.00). (photo)

1,000.00

1259

1259 ##

#67, 1891 5c Green, unusually fresh example of this difficult value, excellent color on bright paper, o.g., n.h., fine centering; signed by E. Diena and accompanied by his 1985 certificate (Sassone #59; centratura discreta €1,750.00). (photo)

WWW.SPINK.COM

1,000.00

June 8, 2016 - USA

1893 KING UMBERTO AND QUEEN MARGHERITA UNISSUED STAMPS

1260 1260 #

Sassone #64A, 1893 20c Brown red and brown, unissued stamp with the design of King Umberto I and Queen Margherita, bright colors, o.g., h.r., fine and a seldom offered example of this unissued value; signed by A. Diena and E. Diena and accompanied by the latter’s 1990 certificate (Sassone centratura discreta; not listed in Scott). (photo)

€4,000.00

1261 1261 ##

Sassone #64B, 1893 20c Olive green and brown, unissued stamp with the same design as previous of King Umberto I and Queen Margherita but in the much scarcer color combination with the pastel olive green, incredibly fresh with full o.g., n.h., about fine centering as usually encountered; a rare example of this unissued value in never hinged condition; signed by Caffaz and Cilio and accompanied by 2014 certificates of each of those firms (Sassone centratura mediocre; not listed in Scott). (photo)

23

€15,000.00

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

TWENTIETH CENTURY ISSUES

1262 1262 ##

1263 ##

1264 ##

1265 ##

1263

1264

#83, 1901 40c Brown, pristine mint single, rich color, full even perforations, o.g., n.h., fine and attractive;signed by Raybaudi and accompanied by his 2005 certificate (Sassone #74; centratura discreta €2,750.00). (photo)

1,800.00

#85, 1901 50c Violet, lovely mint single with pretty pastel color on fresh white paper, o.g., n.h., fine and attractive; signed by Raybaudi and accompanied by his 2005 certificate (Sassone #76; centratura discreta €3,125.00). (photo)

1,800.00

#93, 1906 15c Slate, a marvelous well centered mint example, surrounded with wide balanced margins and full even perforations, fresh with rich color, o.g., n.h., extremely fine; surprisingly scarce in this premium quality; signed by Raybaudi (Sassone #80; centratura ottima €1,000.00). (photo)

180.00

#115-18, 1910 Anniversary of Sicily and the Southern Italian Provinces cplt., the four values considered one set by the Italians, an unusually fresh and well centered set, o.g., n.h., very fine-extremely fine; signed by Helmuth and accompanied by his 2012 certificate (Sassone #87-90; centratura ottima €6,000.00). (photo)

1,850.00

1266 1266 ##BK

1267 ##BK

1265

1267

#123, 1911 3.60L Booklet of 24 15c Slate, an unexploded booklet with four panes of six, inscribed in the margin tab “Officina Gov. Carte-valori, Torino” on each pane, covers are crisp and attractive, booklet is intact and fresh, panes have variable centering, three with fine centering and one with extremely fine centering, o.g., n.h., a very fine and a rare booklet in this premium mint quality; signed by Raybaudi and accompanied by 2012 Raybaudi Gold certificate (Sassone #2; €9,500.00). (photo)

3,250.00

129a, 1916 4.80L Booklet of 24 “Cent. 20” surcharge on 15c Black gray, an unexploded booklet with four panes of six, inscribed in the margin tab “Officina Gov. Carte-valori, Torino” on each pane, especially fresh with the covers being crisp and attractive, panes have variable centering with two fine centering and two with extremely fine centering, o.g., n.h., a lovely and scarce booklet in this pristine quality; (Sassone #3; €4,750.00). (photo)

2,700.00

WWW.SPINK.COM

June 8, 2016 - USA

1269 1268 1268 ##

1269 ##

Sassone #116A-B, 1921 15c Danti, unissued colors the two unissued stamps in gray and brownish rose, fresh with strong distinctive colors, quite different from the issued lilac brown, o.g., n.h., fine and scarce; #116A 1997 Bolaffi certificate; 116B signed by R. Diena and accompanied by 2014 Diena certificate (Sassone discreta centratura; (Scott prices in a footnote $1.760.00)). (photo)

â‚Ź3,500.00

#142A-D, 1922 Italian Philatelic Congress cplt., fresh mint set, with rich colors and attractive overprints, full o.g., n.h., about fine centering and scarce in never hinged condition; each signed by Raybaudi and accompanied by his 2005 Gold certificate (Sassone # 123-26; centratura mediocre â‚Ź2,750.00). (photo)

3,125.00

1270 1270 ##

#165-70, 1923 10c-5L Manzoni a well centered mint set, the key 5L high value is a left margin single and is especially well centered, very fresh with bright colors, o.g., n.h., very fine-extremely fine; 5L signed by E. Diena in the selvage and accompanied by his 1990 certificate (Sassone #151-56; centratura ottima 6,500.00). (photo)

2,375.00

1271 1271 ##

#174A-G, 1924 Italian Cruise overprints cplt., a well centered set that is far better than normally encountered, very fresh, o.g., n.h., very fine; the two high values are signed

by A. Diena (Sassone #162-67 centratura ottima â‚Ź1,400.00). (photo) 25

260.00

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

1924-25 ISSUES WITH ADVERTISING LABELS ATTACHED

1272 1272 ##

1273 ##

1273

#100e, 1924-25 25c Blue, with “Piperno” advertising label attached beneath, fresh mint example, strong colors, o.g., n.h, centered to the left, about fine for this scarce issue; signed by Raybaudi and accompanied by his 1997 certificate (Sassone #6; centratura mediocre €2,700.00). (photo)

2,900.00

#100g, 1924-25 25c Blue, with “Tagliacozzo” advertising label attached beneath, handsome mint example, very fresh with lovely colors, o.g., n.h., fine and better centered than many are normally found; signed by Sorani and accompanied by his 2001 certificate (Sassone #8; centratura discreta €2,400.00). (photo)

1,700.00

1274 1274 ##

1275 ##

1275

#105b, 1924-25 50c Violet, with “Coen” advertising label attached beneath, a pleasing mint example of this elusive issue, wonderfully fresh and bright, o.g., n.h., about fine for this scarce and elusive value; signed by E. Diena and Raybaudi and accompanied by 2008 Raybaudi Gold certificate (Sassone #10; centratura mediocre €2,700.00). (photo)

2,900.00

#105e, 1924-25 50c Violet, with “Piperno” advertising label attached beneath, exceptionally mint single with lovely bright colors, o.g., n.h., fine and rare being one of the scarcest advertising label issues; signed by Raybaudi and accompanied by his 2005 certificate (Sassone #13; centratura discreta €5,500.00). (photo)

4,000.00

WWW.SPINK.COM

June 8, 2016 - USA

1276 1276 ##

1277 ##

1278 ##

1279 ##

1277

1278

#105i, 1924-25 50c Violet, with “Tagliacozzo” advertising label attached beneath, an attractive example of this scarcest of the advertising label stamps, nice color and fresh with full o.g., n.h., about fine for this rare issue; signed by Raybaudi and accompanied by his 1995 certificate (Sassone #17; centratura mediocre €4,000.00). (photo)

4,250.00

#105j, 1924-25 50c Violet, with “Tantal” advertising label attached beneath, a handsome mint example being wonderfully fresh and bright with lovely color, o.g., n.h., fine; signed by G. Carraro and accompanied by his 2005 certificate (Sassone #18; centratura discreta €1,250.00). (photo)

900.00

#87d, 1924-25 1L Brown and green, with “Columbia” advertising label attached beneath, nice example of this one advertisement that was done with this 1L value wonderfully fresh and bright, o.g., n.h., fine and scarce; signed by Raybaudi and accompanied by his 1993 certificate (Sassone #19; centratura discreta €2,400.00). (photo)

1,700.00

#96/105i, 15c-1L King Emmanuel III with advertising labels at bottom collection balance of fourteen different, includes several better as 25c Blue with “Coen” label, 50c Violet with “Reinach” label, also includes the two unissued values listed in a footnote, all are fresh with bright colors, o.g., n.h., fine and a nice collection of these popular varieties (Sassone #1/21; centratura discreta €3,185.00).

2,009.00

1280 1280 ##

175,76, 77a, 1925-26 60c-1.25L 25th Anniversary of King Victor Emmanuel III, perf. 11 cplt., a highly select mint set that possesses exceptional centering that is uncommon, especially on the scarce 1.25L with this perforation, each has pristine o.g., n.h., extremely fine (Sassone #189-9; centratura ottima €1,400.00). (photo)

27

257.00+

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

1281 1281 ##

#183, 1926 1.25L Saint Francis of Assissi, perf. 13½, fresh mint single of this scarce perforation, deep color, quite well centered, o.g., n.h., nearly very fine; signed by R. Diena and accompanied by his 2002 certificate (Sassone #196; centratura discreta €1,500.00). (photo)

1,100.00

1282 1282 ##

Sassone #210A, 1927 20c Violet Volta issue, pristine mint single in a fresh rich violet color that was used in the Italian colonies with various overprints but was never intended to be issued without overprint, o.g., n.h., fine and attractive; this was previously listed under Cyrenaica with overprint omitted and still is in Scott; a very rare variety; signed by Raybaudi and accompanied by his 2003 Gold certificate (Sassone centratura discreta; Scott Cyrenaica #25a; $6,500.00). (photo)

€8,250.00

1283 1283 H

#193a, 1929 1.75L Deep brown, perf. 13¾, a used example of this very scarce perforation variety with portion of Bologna c.d.s, deep color, fine centering as usual; very few of this stamp are recorded, in mint condition it is a great rarity, used has always been a more affordable alternative but even then this is a very elusive stamp; signed by E. Diena and P. Vaccari and accompanied by 1988 Diena and 2009 Vaccari certificates (Sassone #193a centratura discreta €4,750.00). (photo) WWW.SPINK.COM

3,150.00

June 8, 2016 - USA

1284 1285 1284 ##

1285 ##

201-10, 201a-03a, 1928 20c-20L 400th Anniversary of the Duke of Savoy cplt. for all thirteen different including the scarce 20c-30c perforated 13¾, all are incredibly fresh with bright colors, flawless o.g., n.h., overall quite well centered including some values that are exceptionally well centered, fine-very fine or better (Sassone #226-38; centratura discreta €1,500.00). (photo)

1,275.00

Sassone #235I, 1928 1.25L Emmanuel Philibert, perf. 13¾, mint example of this scarce perforation variety, quite well centered, strong colors, o.g., n.h, very fine and an elusive variety that is not listed in Scott; signed by E. Diena and accompanied by his 1992 Certificate (Sassone centratura ottima). (photo)

€3,750.00

WORLD WAR II BRITISH ESPIONAGE FORGERYS

1287 1286

1286 ##

1287 ##

Sassone #IG248, 1944 25c Green, British espionage forgery, bottom right corner perforated copy without watermark, a very good likeness done in photolithography by the British to cause economic instability in Italy, o.g., n.h., choice very fine; signed by Raybaudi and Caffaz in the selvage and accompanied by 2014 Caffaz certificate. (photo)

€3,500.00

Sassone #IG248a, 1944 25c Green, British espionage forgery, imperforate, top left corner single without watermark, the other two margins are extra wide as well, the photolithographic forgery by the British to cause economic instability in Italy, o.g., n.h., choice very fine; signed by Raybaudi and Caffa, both in the selvage and accompanied by 2014 Caffaz certificate. (photo)

€4,000.00

29

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

SEMI-POSTAL STAMPS

1288

1288 ##

1289 ##

1290 ##

1292 ##

1293 ##

1290

#B5, 1921 10c Claret, with blue “B.L.P.” overprint, Ty. I, lithographed, rich bright colors and nice impression of the overprint, o.g., n.h., attractive fine example of this scarce stamp; signed by Oliva and Sorani and accompanied by 2009 Sorani and 2009 Terrachini certificates (Sassone #1; centratura discreta €2,500.00). (photo)

1,800.00

#B6, 1921 20c Brown orange, with blue “B.L.P.” overprint, Ty. I, lithographed, attractive with strong rich colors, o.g., n.h., fresh and nice fine centering; an elusive stamp in this never hinged condition; signed by E(milio) Diena and Raybaudi and accompanied by 2009 Raybaudi Gold certificate (Sassone #2; centratura discreta €3,500.00). (photo)

2,500.00

#B9-15A, 1922-23 10c-85c Victor Emmanuel III with “B.L.P.” overprint, Ty. III, the typographed issue complete for all six values, the overprints in black except for the 15c and 25c which are in orange, all are fresh with bright colors, full o.g., n.h. and overall well centered for these being fine-very fine; all are signed by E. Diena and some are signed A. Diena, Bolaffi and others, plus accompanied by a 1989 Diena certificate for the set (Sassone #13-18; centratura discreta €5,000.00). (photo)

3,980.00

1291

1291 ##

1289

1292

1293

#B10a, 1921 15c Slate, with blue “B.L.P.” overprint, Ty. I, lithographed, intense deep colors, fresh with full o.g., n.h., fine centering as is the norm; signed by G. Carraro and accompanied by his 2004 certificate (Sassone #6; centratura discreta €2,500.00). (photo)

1,900.00

#B11a, 1922 20c Brown orange, with blue “B.L.P.” overprint, Ty. II, lithographed, an unusually well centered mint example, fresh with bright colors, o.g., n.h., certificate calls the centering excellent and mentions slight natural gum crease; very fine; signed by E(milio) Diena and G. Bottacchi and accompanied by 2011 Bottacchi certificate (Sassone #7; centratura ottima €4,400.00). (photo)

1,575.00

#B6, 1922 50c Violet, with black “B.L.P.” overprint, Ty. II, lithographed, fresh mint single with nice color and overprint impression, o.g., n.h., about fine for this as it is often found; signed by E(millio) Diena, Bolaffi and Raybaudi and accompanied by 2006 Raybaudi certificate (Sassone #10; centratura mediocre €1,200.00). (photo)

1,450.00

WWW.SPINK.COM

June 8, 2016 - USA

1294 1294 ##

#B6, 1922 60c Carmine, with black “B.L.P.” overprint, Ty. II, lithographed, fresh mint example of this particularly elusive value, bright colors, o.g., n.h., a fine copy of one of the scarcest of the B.L.P. overprints being well documented signed by E(milio) Diena, Bolaffi, Caffaz and three others, and accompanied by 1989 Diena and 2010 Caffaz certificates (Sassone #11; centratura discreta €5,500.00). (photo)

4,000.00

1295 1295 ##

#B16, 1923 1L Brown and green, with black “B.L.P.” overprint, Ty. II, lithographed, an attractive single of this rare high value, fresh with rich deep colors, o.g., n.h., fine centering; a rare stamp being the scarcest of the regularly issued B.L.P. overprints; signed by E(milio) Diena, E(nzo) Diena, Caffaz and others, and accompanied by 1983 Diena and 2010 Caffaz certificates (Sassone #12; centratura discreta €9,000.00). (photo)

6,500.00

1296 1296 ##

Sassone #22-25, 1922 5c-25c Victory with black “B.L.P.” overprints, Ty. I cplt., lithographed, a commemorative set of this period that was prepared but never placed in use, this set is comb perforated 14, bright colors, o.g., n.h., fine-very fine; an exceptionally rare issue with only 80 sets prepared of both perforation types that were used; not listed in Scott; signed by Sorani and accompanied by his 1999 certificate (Sassone centratura discreta). (photo) 31

€10,000.00

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

AIR POST STAMPS

1297 1297 ##

1298 ##

1298

#C27, 1930 7.70L Trans-Atlantic Squadron, pristine mint single possessing exceptional freshness with bright colors on white paper, o.g., n.h., very fine; 2004 Carraro certificate (Sassone #25; centratura discreta €1,100.00). (photo)

900.00

Sassone #12A-C, 1942 50c-2L Air Mails with propaganda labels, unissued set cplt. in three values, this set was prepared with a similar regular issue (Scott #427-38) but not placed in use, very fresh with bight colors, o.g., n.h, well centered and very fine-extremely fine; each signed by Raybaudi and accompanied by his 2005 set certificate (not listed in Scott; Sassone centratura discreta). (photo)

€1,750.00

AIR POST OFFICIAL STAMPS

1299 1299 ##

#CO2, 1934 10L Blue black, with “Servizio di Stato” gold overprint, lovely fresh mint single, quite well centered, o.g., n.h., very fine; signed by E. Diena and accompanied by his 1988 certificate (Sassone #2; centratura discreta €2,200.00). (photo)

1,750.00

SPECIAL DELIVERY STAMPS

1300 1300 ##

Sassone #8, 1922 1.20L Blue and red, unissued special delivery stamp, a marvelously well centered mint example of this value that was prepared but never placed into use (later surcharged), having exceptionally well balanced margins, bright colors, o.g., n.h., extremely fine; a surprisingly scarce stamp in this premium never hinged quality; signed

by R. Diena and accompanied by 2007 Diena certificate (Sassone centratura ottima; Scott $400.00 in footnote after #E8). (photo) WWW.SPINK.COM

€1,800.00

June 8, 2016 - USA

POSTAGE DUES

1301 1301 ##

#J1, 1863 10c Yellow, lovely mint example of this first postage due, brilliant clear yellow color, well margined showing full dividing lines at top and large portions at left and bottom, o.g., never hinged, very fine; a rare stamp in this pristine mint quality; signed by G. Carraro and accompanied by his 2004 certificate (Sassone #1; €3,750.00). (photo)

3,000.00

1302 1302 ##

#J2, 1869 10c Buff, an attractive mint single of this rare postage due, strong rich color, surrounded by full even perforations, full o.g., n.h., a fine example of this almost always poorly centered issue; a very elusive stamp in this premium never hinged condition; signed

by Raybaudi and accompanied by that firm’s 2006 Gold certificate (Sassone #2; centratura discreta €20,000.00). (photo)

18,000.00

1303

1303 ##

Sassone #8, 1870, 40c Ochre and carmine, the early printing that is not listed in Scott, fresh mint single with bright colors and characteristic fine detailed impression, o.g., n.h, normal about fine centering; signed by Sorani and G. Colla and accompanied by 2013 Colla certificate (Sassone centratura mediocre). (photo)

33

€5,000.00

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

1304 1304 ##

Sassone #9, 1870 50c Ochre and carmine, the early printing not listed by Scott, a much better centered mint example than is normally encountered, bright colors and distinctive detailed impression of this printing, o.g., n.h., an attractive fine stamp that is rare in this premium quality; by Raybaudi and two others and accompanied by 2010 Raybaudi certificate (Sassone centratura discreta). (photo)

€7,500.00

1305 1305 ##

#J13, 1870 1L Blue and brown, mint single of this scarce value in the early brown colored numeral, o.g., n.h., normal about fine centering; one of the rarest values of this series; signed by E(milio) Diena, R Diena and others and accompanied by 2003 Diena certificate (Sassone #11; centratura mediocre €12,000.00). (photo)

16,000.00

1306

1306 #

#J15, 1870 2L Blue and brown, mint example of this early printing with the numeral in brown, o.g., normal about fine centering; a rare stamp in any condition; signed Oliva and Sorani and accompanied by 2003 Oliva certificate calling this never hinged, plus a 2010 Sorani certificate as hinged (Sassone #12; centratura mediocre €5,000.00). (photo)

WWW.SPINK.COM

7,250.00

June 8, 2016 - USA

1307 1307 ##

#J25-27, 1890-91 10c-30c Surcharges, cplt., a fresh mint set with strong rich colors, o.g., n.h., fine centering and very scarce in never hinged condition, especially the 30c on 2c value; each signed by Sorani and accompanied by his 1994 set certificate (Sassone #1719 centratura discreta €7,120.00). (photo)

5,250.00

PARCEL POST STAMPS

1308 1308 ##

#Q1-6, 1884-86 10c-1.75L King Humbert I Parcel Posts cplt., a pristine set with fresh bright colors, flawless o.g., n.h., quite well centered for these, fine-very fine; each signed by G. Carraro and accompanied by his 2004 certificate for the two key 10c and 20c values (Sassone #1-6; centratura discreta €2,266.00). (photo)

1,780.00

1309 1309 ##

#Q7-19, 1914-22 5c-20L Parcel Posts cplt., lovely mint set, fresh with excellent colors, o.g., n.h., fine-very fine; scarce never hinged and not priced thus in Scott; the three high values are signed E. Diena and accompanied by his 1992 certificate (Sassone #7-19; centratura discreta €2,250.00). (photo)

35

for hinged 788.00+

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

FRANCHISE STAMPS

1310 1310 ##/#

Sassone #5-12, 1924 5c-5L Assoc. Naz. Mutil. Inv. Guerra-Roma franchise stamps cplt., a fresh mint set of this rare issue, attractive colors on bright paper, crisp even perforations, o.g., the two key values are n.h., (the low values are lightly hinged but their value is so low they are not even included in the set price), fine-very fine; the two high values are rare in never hinged condition; not listed in Scott; the two high values are signed by Raybaudi and accompanied by a 2008 Raybaudi Gold certificate for the key high value (Sassone centratura discreta). (photo)

1311 1311 ##/#

1312 ##

€12,000.00

1312

Sassone 13-16, 1924 5c-50c Bibliot. Circolanti Milano franchise stamps cplt., nice set of four values, fresh and attractive with bright colors, o.g., all but the 30c value are n.h., fine-very fine; not listed in Scott; the key high value signed by Raybaudi and accompanied by his 2008 certificate (Sassone centratura discreta). (photo)

€3,600.00

Sassone F#42-45, 1924 5c-50c Lega Nazionale Trieste franchise stamps cplt., pristine mint set, all with strong bright colors on fresh paper, o.g., n.h., normal fine centering; quite rare in never hinged condition; not listed in Scott; each signed by Raybaudi and accompanied by 2005 Toselli certificate for the key 50c value and Raybaudi 2009 Gold certificate for the set (Sassone centratura discreta). (photo)

€3,250.00

WWW.SPINK.COM

June 8, 2016 - USA

1313

1313 ##

Sassone F#50-56, 1924 5c-3L Opera Naz. Protez. Assist. Inv. Guerra franchise stamps cplt. less the extraordinarily rare 5L, a choice set that has several values, including the key 3L, that are better centered than usually encountered, fresh and attractive with bright colors, o.g., n.h., fine-very fine; not listed in Scott; 3L high value signed by Giorgio Colla and accompanied by a photocopy of a 2015 Colla certificate for the 3L and 5L high values (Sassone centratura discreta). (photo)

â‚Ź7,000.00

1314

1314 ##

Sassone 576, 1924 5L Opera Naz. Protez. Assist. Inv. Guerra franchise stamp, the key and extraordinarily rare value that is almost never available, a pristine mint example with fresh strong color on bright white paper, surrounded by full even perforations, o.g., n.h., centered to the bottom left with the normal about fine centering, a great rarity with no more than a handful that exist let alone in fresh never hinged condition; not listed in Scott; signed by Giorgio Colla and accompanied by his 2015 certificate (Sassone centratura discreta, the lowest grade priced). (photo)

37

â‚Ź52,500.00

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

1315 1315 ##

1316 ##

Sassone F#70-77, 1924 5c-3L “Assoc. Naz. Mutil./Inv. Guerra-Roma” overprinted franchise stamps cplt., a very rare issue, especially fresh and attractive, o.g., n.h., fine-very fine; a very elusive set in this never hinged condition; not listed in Scott; the two high values are signed by Raybaudi and accompanied by his 1994 Gold certificate for those two values (Sassone centratura discreta). (photo)

€13,000.00

Sassone #1/69, 1924 Franchise stamps mint collection balance of 45 different in eleven complete sets, o.g., n.h., all are fresh and attractive with the normal range of centering from fine-very fine; a nice collection of these seldom encountered postal issues that are not listed in Scott (Sassone centratura discreta).

€5,900.00

INSURANCE STAMPS

1317 1317 ##

Sassone #10-16, 1936 10c-10L Insurance stamps cplt., a two part stamp series similar to the parcel post issues, attractive mint set, bright colors, o.g., n.h., fine-very fine; a scarce set not listed in Scott; all but two are signed by Raybaudi and accompanied 1995 Raybaudi and 1996 R. Diena certificates for the key 2L value, plus a 1989 Raybaudi certificate for the 3L value. (photo)

WWW.SPINK.COM

€6,950.00

June 8, 2016 - USA

ITALIAN SOCIAL REPUBLIC

1318 1318 ##

1319 ##

1319

Sassone #470-89, 1944 5c-50L Definitives with “G.N.R.” overprints cplt., Verona printing, the full set of 20 regular issues, exceptionally fresh with deep rich colors, o.g., n.h., fine-very fine; a scarce set including the high values; all but the low values signed by various experts including Sorani for the 2.55L, 10L, 20L, 25L and 50L and accompanied by his 2001 certificate for those five values (unlisted in Scott but mentioned in a footnote after #231). (photo)

€5,000.00

Sassone #495/A, 1944 20c Carmine with Fasces and “Republica/Sociale/Italiana” overprint, error of overprint being applied to the 20c instead of the 75c, bright and fresh, o.g., n.h., very fine; signed by A. Diena and R. Diena (not listed in Scott). (photo)

€1,000.00

1320 1320 ##

Sassone #500, 1944, 50L Violet with Fasces overprint in lilac, Florence printing, an exceptionally handsome example of this very elusive stamp, beautifully centered, excellent colors of both the stamp and overprint, o.g., n.h, extremely fine; a rare stamp; signed by G. Biondi, Caffaz and others and accompanied by 1985 Biondi and 1986 Caffaz certificates (not listed in Scott). (photo)

1321 1321 ##

1322 ##

€5,000.00

1322

Sassone #117-25, 1944 25c-10L Air Mails with “G.N.R.” overprints cplt. including the 2L Air Mail Special Delivery, Verona printing, a fresh set with bright colors, o.g., n.h., fine-very fine; the four high values signed by Raybaudi and the 10L and 2L special delivery additionally signed by Oliva, and accompanied by a 1999 Raybaudi Gold certificate for the four high values (not listed in Scott). (photo)

€4,200.00

Sassone #37-44,45/I-48/I, 1944 25c-50c Military Propaganda issues with Fasces and “Repubblica/Sociale/ Italiana” overprints cplt., Florence printings, the four 50c high values are the variety with lilac overprints, a fresh mint set including half of the values with sheet margins, o.g., n.h., fine-very fine; all are signed by Raybaudi and accompanied by his 1991 set certificate (not listed in Scott). (photo)

€3,400.00

39

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

1324 1325

1323 1323 ##

1324 ##

1325 ##

Sassone #49-60, 1944 25c-50c Military Propaganda issues with Fasces and “Repubblica/Sociale/ Italiana” overprints cplt., Verona printings, attractive mint set, o.g., n.h., fine-very fine; all are signed by Oliva (not listed in Scott). (photo)

€1,000.00

#Q1-12, 1944 5c-20L Parcel Posts with Fasces and “Repubblica/Sociale/Italiana” overprints cplt., fresh mint set, o.g., n.h., fine-very fine; the three key values are signed

by Raybaudi and accompanied by his 1998 certificate for those values (Sassone #36-47; €3,000.00). (photo)

2,812.00

Sassone #3A-B, 1944 10c Brown Authorized Delivery with Fasces and “Repubblica/Sociale/Italiana” overprints, unissued, the two stamps that were prepared but not issued having Fasces of different sizes and overprint than the issued stamp, o.g., n.h., fine-very fine; both signed by Raybaudi and accompanied by his 1999 certificate for the two different (Scott mentioned in footnote after #EY1; $1,225.00). (photo)

€1,250.00

1326

1326 ##

1327 #

1328 ##

1329 ##

1327

1328

Sassone #47/I-59, 1944 5c-20L Postage Dues with “G.N.R.” overprints cplt. for all values, a mixed set with the 40c and 5L-20L being the Verona printing and the rest being the Brescia printings, all are fresh and attractive with excellent colors o.g., n.h., fine-very fine; the five key values are signed by Raybaudi and three high values additionally signed

by Oliva and accompanied by 2000 Raybaudi certificate for the key five values (not listed

by Scott). (photo)

€2,710.00

Sassone #1-5, 1943, 10c-50c Definitives with “Italia/Repubblicana/Fascista/Base Atlantica” overprint cplt., local issue for the submarine base at Bordeaux, attractive and fresh with bright colors, o.g., l.h, fine-very fine; a rare set with only 200 issued; signed

by Colla and accompanied by 2014 G. Colla certificate (not listed in Scott). (photo)

€7,000.00

Sassone #1-16, 1844 Teramo locals with “Repubblico/Sociale/Italiana” overprints cplt. with eleven regular issues, four air mails and a special delivery, bright colors and fresh, o.g., n.h., fine-very fine; the two key values signed by Raybaudi and the key value additionally signed by E. Diena and accompanied by 1993 Raybaudi certificate for those two values (not listed in Scott). (photo)

€1,000.00

Italian Social Republic mint collection balance of over 100 different in sets and singles including regular issues, special delivers, various propaganda issues with military labels, postage dues and locals such as Atlantic Base overprints, all are fresh and attractive, uniformly, o.g., n.h, fine-very fine; accompanied by five certificates of Raybaudi, Caffaz and Carraro.

€5,150.00

WWW.SPINK.COM

June 8, 2016 - USA

PRIVATE AUTHORIZED SERVICE STAMPS

1330 1330 ##

1331 ##

1331

Sassone #1-12, 1945 Private Authorized Services stamps for “Corrieri Alta Italiana” the collection of the three sets cplt., a total of twelve stamps, the first scarce set of two values is imperforate and without gum as issued, the second set is imperforate with full large margins and the third is perforated and quite well centered, fresh, the last two sets o.g., n.h., very fine; signed by E. Diena and accompanied by his 1984 certificate for the entire collection (not listed in Scott). (photo)

€2,120.00

Sassone #13-15, 1945 5L-50L Private Authorized Services stamps for “S.A.B.E,” imperforate, cplt. in three values, each with matching sheet margin at right, full large even margins on the other three sides, o.g., n.h., very fine; signed by Raybaudi and accompanied by his 2006 set certificate (not listed in Scott). (photo)

€1,200.00

INTERIM GOVERNMENT

1332

1332 H

Sassone #515F-I, 1944 50c Badoglio series cplt. in four different color combinations, on rough brownish paper, each stamp with portion of favor cancel as this set is known to come and valued the same as mint n.h., retaining full o.g., n.h., well centered and very fine; Badoglio was named prime Minister of Italy after Mussolini fell. these stamps were prepared in the interim government and were not issued because they featured the signature of Badoglio and Victor Emmanuel felt that this was too self-aggrandizing; an extremely rare set especially on this paper and seldom offered; signed by A. Diena and Raybaudi, and accompanied by 2009 Raybaudi Gold certificate (not listed in Scott). (photo)

41

€24,000.00

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

WORLD WAR I OCCUPATIONS Fiume

1333 1333 H

1334 H

1334

#122-27, 120-25a, E6-7, 1920 “ARBE” overprints cplt including the scarce four values with large size “ARBE” and the two special delivery values, all are used with that island’s c.d.s., fine-very fine; key 25c with large overprint signed by A. Diena and Dr. Esser (Sassone #1-10, ES#1-2; €2,200.00). (photo)

1,766.00

128-33, 128a-31a, E8-9 17731920 “VEGLIA” overprints cplt. including the scarce four values with large size “VEGLIA” and the two special delivery values, all are used with that island’s c.d.s., fine-very fine; the four large overprinted values are signed by Raybaudi with his 1993 certificate (Sassone #1-10, ES#1-2; €2,200.00). (photo)

1,771.00

1335

1335 ##

#B4-15, 1919 5c+5L-10Cor+5L Peace Semi-postals cplt., an exceptionally fresh set, nearly all are very well centered, pristine o.g., n.h., very fine-extremely fine (Sassone #6273; €2,500.00). (photo)

WWW.SPINK.COM

1,400.00

June 8, 2016 - USA

Trentino

1336 1336 ##

#N33-47, 1918 3h-1K “Regno d’Italia/Trentino/3 Nov. 1918” overprints cplt. for the set less only the 2K and 4K high values but including the very rare 90h Red violet, all are pristine with brilliant colors and fresh bright paper, all have flawless o.g. and are never hinged, very fine-extremely fine; most of the better values had a very limited printing and the key 90h Red violet had the least of all values with only 200 stamps printed; the better values of the 5h, 12h, 40h, 60h, 80h and 1K are signed by Ghiglione and accompanied by his 2008 certificate; the 90h is signed by A. Diena and Oliva and accompanied by 2010 Studio Peritale Romano certificate (Sassone #1-15; €-9,200.00). (photo)

6,290.00

Trieste

1337

1337 HL

#N1-16, 19, 1918 3h-4K, with “Regno d’Italia/Venezia Giulia/3. XI. 18.” overprints cplt. for the set of the normal seventeen values (lacks the 10K which is a major rarity), the 3K Carmine rose is on granite paper, all are used with most bearing Trieste cancels, the three high values are tied to individual pieces by “25 XI 18/Trieste 1” c.d.s., all are well centered, very fine-extremely fine; the three high values are signed by A. Diena and Sirotti and accompanied by 1973 Sirotti certificate. (Sassone #1-17; €4,000.00). (photo)

43

3,170.00

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

WORLD WAR II OCCUPATIONS Ljbuljana

1338 1338 ##

Sassone #33B, 1941 10L Bright violet with “R. Commissariato/Civile/Territori Slovini/occupati/Lubiana” overprint, Ty. II, an extremely rare variety where the “Lubiana” is centered within the overprint, while on the normal value (Scott “N29) the “Lubiana” is moved to the left and aligned with the other lines of the overprint, fresh with excellent color on stark white paper, well centered, o.g., n.h., very fine; the number of printed is not listed but it must be extremely small as this is an incredibly rare variety; signed by G. Bottacchi and two others and accompanied by 2010 Bottacchi certificate (not listed in Scott). (photo)

€21,000.00

1339

1339 ##

Sassone #42-56, 1941 25p-20D Yugoslavia definitives with “Alio Commissarie/per la/Provincia/di Lubiana” overprints cplt., a total of 15 values, all are fresh and attractive, nearly all are very well centered, o.g., n.h., fine-very fine or better; a scarce set not listed by Scott; all are signed by Raybaudi and accompanied by 1991 and 2011Raybaudi set certificates, the later being his Gold certificate. (photo)

WWW.SPINK.COM

€8,000.00

June 8, 2016 - USA

1340 1340 ##

Sassone #57-60, 1941 Red Cross semi-postals with “Alio Commissarie/per la/Provincia/di Lubiana” overprints cplt. in four values, fresh with bright colors, o.g., n.h., fine-very fine (unlisted by Scott; Scott illustrates the wrong overprint for #NB1-4 which have the same overprint as #N16-35 and is an inexpensive set as Scott correctly prices). (photo)

€1,500.00

Fiume

1341 1341 ##

FIUME -KUPA ZONE Sassone #13, 1941 20D Ultramarine with “Zona/Occupata/Fiumano/Kupa” overprint, a key value of a set of fourteen values with this overprint issued under Italian occupation, bright color and fresh, o.g., n.h., very fine; a rare stamp with only 100 stamps issued; signed by A. Diena, Caffaz and others. (photo)

45

€4,950.00

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

Montenegro

1342

1342 ##

1343 #

1343

Sassone #52, 1942 2D Lilac Red with red “Governatorato/del/Montenegro/ Valore/LIRA” overprint, the very rare value that Scott does not list or mention (Scott #2N24a-32a is the rest of this set), fresh and well centered, o.g., n.h., very fine; a great rarity with only 200 stamps issued; signed by Sorani and accompanied by his 2010 certificate. (photo)

€8,500.00

Sassone #52, 1942 2D Lilac Red with red “Governatorato/del/Montenegro/ Valore/LIRA” overprint, another example of the is rare value of which only 200 wee issued and unlisted by Scott, exceptionally well centered, o.g., l.h., extremely fine; signed

by A. Diena and Colla. (photo)

€4,250.00

BALANCE OF THE STEFANO FANTARONI COLLECTION 1344 ##/#

Kingdom of Italy the substantial balance of the Fantaroni mint collection in two GBE Italian albums containing over 850 mint stamps, largely different though there is some minor duplication, the collection covers the period from early issues of 1862 to the end of WWII with the start of the Republic, this collection is a quality collection and includes regular issues from the early 19th century period, it becomes quite comprehensive in the 20th century with regular and commemorative sets, we note a nice sections of air mails plus special deliveries, officials, postage dues, pneumatic posts plus others, the quality is excellent and with very few exceptions is collected o.g., never hinged throughout, fine-very fine; this collection needs to be viewed to be appreciated; Sassone catalog value is in excess of €60,000.00; accompanied by twelve certificates of various experts including E. Diena and Raybaudi.

END OF THE SALE

WWW.SPINK.COM

Est. 5,000-7,500

– – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –

145 West 57th Street, 18th New York, NY 10019 tel: +1 (212) 262-8400 fax: +1 (212) 262-8484 email: usa@spink.com

NAME ______________________________________________________

THE STEFANO FANTARONI COLLECTION OF THE KINGDOM OF ITALY

WRITTEN BIDS FORM

This form should be sent or faxed to the Spink auction office in advance of the sale.

References for new clients should be ADDRESS ____________________________________________________ supplied in good time to be taken up before the sale. Bids received later than one hour before the start of the sale may CITY _______________________________________________________ not be processed.

STATE ______________________________________________________ YOU CAN ALSO BID IN REAL TIME ON SPINK LIVE.

ZIP

________________________________________________________

8 JUNE 2016

JUST VISIT WWW.SPINK.COM, REGISTER AND LOG

NEW YORK

INTO THE SALE.

SALE TITLE

DATE

SALE NO.

The Stefano Fantaroni Collection of

Wednesday, June 8, 2016 at 10:00 a.m.

156

the Kingdom of Italy I request Spink, without legal obligations of any kind on its part, to bid on the following Lots up to the price given below.

I understand that if my bid is successful the Purchase Price will be the sum of the final bid and Buyer’s premium as a percentage of the final bid as well as any Sales Tax chargeable. Please note there is a 20% buyer’s premium added to the hammer price of each lot up to and including $2,000.00 and 15% of the excess of the hammer price above $2,000.00.

All bids shall be treated as offers made on the Terms and Conditions of Sale printed in the catalog. I also understand that Spink provides the service of executing bids on behalf of clients for the convenience of clients and that Spink will not be held responsible for failing to execute bids. If identical commission bids are received for the same Lot, the commission bid received first by Spink will take precedence. Please note that you will not be notified if there are higher written bids received.

BIDDERS PLEASE NOTE OUR EXTENSION CLAUSES IN OUR TERMS AND CONDITIONS FOR BUYERS PLEASE PRINT CLEARLY IN BLOCK LETTERS AND ENSURE THAT BIDS ARE IN US DOLLARS Lot Number (in numerical order)

Price Bid $ (excluding Buyer’s Premium)

Lot Number (in numerical order)

Price Bid $ (excluding Buyer’s Premium)

Lot Number (in numerical order)

Price Bid $ (excluding Buyer’s Premium)

Additional bids on back of form TEL. HOME FAX

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TEL. OFFICE ____________________________________________

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E-MAIL ________________________________________________

SIGNATURE _______________________________________________ Please indicate the type of card:

VISA

VISA DEBIT

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_________________________________________

MASTERCARD

SWITCH

AMERICAN EXPRESS

PAYMENT MADE BY MASTERCARD OR VISA ARE SUBJECT TO A 2% SURCHARGE AND AMERICAN EXPRESS 4% CARD NO: SIGNATURE

START DATE: EXPIRY DATE

ISSUE NO:

SECURITY CODE:

NAME (ON CREDIT CARD)

Please charge all purchases to my card Do not charge my card. I will arrange to send payment. (Spink will only charge your card should you default on the payment terms agreed) Please hold my purchased lots for collection

Continued ...

The Stefano Fantaroni Collection of

DATE

SALE NO.

Wednesday, June 8, 2016 at 10:00 a.m.

156

the Kingdom of Italy

PLEASE PRINT CLEARLY IN BLOCK LETTERS AND ENSURE THAT BIDS ARE IN US DOLLARS Lot Number (in numerical order)

Price Bid $ (excluding Buyer’s Premium)

Lot Number (in numerical order)

Price Bid $ (excluding Buyer’s Premium)

Lot Number (in numerical order)

Price Bid $ (excluding Buyer’s Premium)

BIDDING INCREMENTS Bidding generally opens below the low estimate and advances in the following order although the auctioneer may vary the bidding increments during the course of the auction. The normal bidding increments are:

K

Up to $100 $100 to $300 $300 to $750 $750 to $1,500 $1,500 to $3,000 $3,000 to $7,500

Limit total: $____________________________

by $5 by $10 by $25 by $50 by $100 by $250

$7,500 to $15,000 $15,000 to $30,000 $30,000 to $75,000 $75,000 to $150,000 $150,000 to $300,000 $300,000+

by $500 by $1000 by $2,500 by $5,000 by $10,000 at auctioneer’s discretion

K

Check here if you wish to limit your total amount of purchases.

(Hammer Price Only)

If Necessary, please increase my bid by:

K

10% K 20% K 30%

REFERENCES REQUIRED FOR CLIENTS NOT YET KNOWN TO SPINK

TRADE REFERENCES

BANK REFERENCES

________________________________________________________________________________________ _____________________________________________________________________________________________________

TERMS AND CONDITIONS FOR BUYERS The following terms and conditions set forth the scope of your contract with Spink USA Inc (“Spink”), by which Spink contracts with you either as agent on behalf of the Seller or as principal if Spink is the Seller. You should read these conditions carefully.

1 DEFINITIONS 1.1 The following definitions apply to these terms and conditions: Auction Agent, Auctioneer, Spink, us or we means Spink USA Inc; Bidder and you means a person making, attempting to make or considering making a bid for a Lot including a Buyer; Buyer means the person who makes the highest bid for a Lot which is accepted by the Auctioneer and, if the person is acting as an agent, will be a reference to the agent’s principal only if Auction Agent has accepted the agency in writing; Buyer’s Premium means the charge payable by you as a percentage of the Hammer Price, at the rates set out in clause 5.1 below; Certificate of Authenticity means a certificate issued by an Expert Committee confirming the authenticity of a Lot; Commission Bid means an instruction from a Bidder to us to bid on their behalf at the Auction; Expert Committee means a committee of experts to whom a Lot may be sent for an expert opinion or Certificate of Authenticity in accordance with clause 3.4.3; Forgery means a Lot constituting an imitation originally conceived and executed as a whole with a fraudulent intention to deceive as to authorship, origin, age, period, culture or source where the correct description as to such matters is not reflected by the description in the catalogue and which at the date of the auction had a value materially less than it would have had if it had been in accordance with the description in the catalogue. Accordingly, no Lot shall be capable of being a Forgery by reason of any damage and/or restoration work of any kind (including re-enamelling); Hammer Price means the amount of the highest bid accepted by the Auctioneer in relation to a Lot; Lot means any item deposited with us for sale at auction and, in particular, the item or items described against any Lot number in any catalogue; Purchase Price means the Hammer Price plus Buyer’s premium and New York State and City tax, where applicable; Reserve means the amount below which we agree with the Seller that the Lot cannot be sold; Seller means the owner of the Lot being sold by us; Spink Group means Spink and Son Limited, its subsidiaries and associated companies.

1.2 By making a bid, Bidder acknowledges acceptance of these terms and conditions and agrees to be bound by them.

2 SPINK’S ROLE AS AGENT 2.1 This is a public auction and mail-bid sale held by Spink, which is a licensed and bonded auctioneer.

3.3 Your Responsibility 3.3.1 You are responsible for satisfying yourself as to the condition of the goods and the matters referred to in the catalogue description.

2.2 All sales undertaken by us either at auction or privately are undertaken either as agent on behalf of the Seller or, from time to time, as principal if we are the owner of the Lot. Please note that even if we are acting as agent on behalf of the Seller, rather than as principal, we may have a financial interest in the Lot.

3.4 Extensions – Stamps Only 3.4.1 If you wish to obtain an expert opinion or Certificate of Authenticity on any Lot (other than a mixed Lot or Lot containing undescribed stamps) you must notify us in writing not less than forty-eight hours before the time fixed for the commencement of the first session of the sale. If accepted by us, such request shall have the same effect as notice of an intention to question the genuineness or description of the Lot for the purposes of clause 5.10 (Refund in the case of Forgery) of these Terms and Conditions and the provisions of clause 5.10 (Refund in the case of Forgery) shall apply accordingly.

2.3 The contract for the sale of the Lot will be between you and the Seller.

3 BEFORE THE SALE 3.1 Examination of Goods 3.1.1 You are strongly advised to examine personally any goods in which you are interested, before the auction takes place. Condition reports are usually available on request. We provide no guarantee to you other than in relation to Forgeries, as set out in clause 5.10 of these Terms and Conditions.

3.1.2 All Bidders who have inspected the Lots prior to the auction will not be granted any return privileges, except for reasons of genuineness. It is presumed that all Floor Bidders have inspected the Lots prior to bidding. Therefore, Lots purchased by Floor Bidders are sold “AS IS” and may not be returned. Floor Bidders include those Bidders acting as agents for others.

3.1.3 Spink reserves the right to refuse to honour or reject any bid which, in its opinion, is not submitted in good faith, or, as the case dictates, is not supported by satisfactory references, as Spink, in its sole discretion, shall determine. Spink further reserves the right to ban any Bidder from participation in its sales for any reason deemed appropriate.

3.2 Catalogue Descriptions 3.2.1 Statements by us in the catalogue or condition report, or made orally or in writing elsewhere, regarding the authorship, origin, date, age, size, medium, attribution, genuineness, provenance, condition or estimated selling price of any Lot are merely statements of opinion, and are not to be relied on as statements of definitive fact. Catalogue and web illustrations are for guidance only, and should not be relied on either to determine the tone or colour of any item. No Lot shall be rejected on the grounds of inaccurate reproduction. No Lot illustrated in the catalogue and online shall be rejected on the grounds of cancellation, centering, margins, perforation or other characteristics apparent from the illustration.

Estimates of the selling price should not be relied on as a statement that this price is either the price at which the Lot will sell or its value for any other purpose.

3.4.2 Notice of a request for an expert opinion or Certificate of Authenticity must give the reason why such opinion is required and specify the identity of your proposed expert which will be subject to agreement by us. We reserve the right, at our discretion, to refuse a request for an expert opinion or Certificate of Authenticity including (without limitation) where the proposed expert is not known to us.

3.4.3 If we accept a request for an expert opinion or Certificate of Authenticity we will submit the Lot to the Expert Committee. You acknowledge and accept that the length of time taken by an Expert Committee to reach an opinion will vary depending on the circumstances and in any event is beyond our control.

3.4.4 We will not accept a request for an extension on account of condition. Any Lot described in the catalogue as having faults or defects may not be returned even if an expert opinion or Certificate of Authenticity cites other faults or defects not included in the catalogue description, other than in the case of a Forgery.

3.4.5 Should Spink accept a request for an extension under the foregoing provisions of this paragraph, the fact may be stated by the Auctioneer from the rostrum prior to the sale of the Lot. 3.4.6 It should be noted that any stamp accompanied by a Certificate of Authenticity is sold on the basis of that certificate only and not on the basis of any other description or warranty as to authenticity. No request for an extension will be accepted on such a stamp and the return of such a stamp will not be accepted.

3.4.7 If you receive any correspondence from the Expert Committee in relation to the Lot, including but not limited to a Certificate of Authenticity, you must provide us with copies of such correspondence no later than seven (7) days after you receive such correspondence.

3.2.2 Many items are of an age or nature which precludes their being in perfect condition and some descriptions in the catalogue or given by way of condition report make reference to damage and/or restoration. We provide this information for guidance only and the absence of such a reference does not imply that an item is free from defects or restoration, nor does a reference to particular defects imply the absence of any others.

4 AT THE SALE 4.1 Refusal of Admission Our sales usually take place on our own premises or premises over which we have control for the sale, and we have the right, exercisable at our complete discretion, to refuse admission to the premises or attendance at an auction.

3.2.3 Other than as set out in clause 5.10, and in the absence of fraud, neither the Seller nor we, nor any of our employees or agents, are responsible for the correctness of any statement as to the authorship, origin, date, age, attribution, genuineness or provenance of any Lot nor for any other errors of description or for any faults or defects in any Lot. Every person interested should exercise and rely on his own judgment as to such matters.

4.2 Registration Before Bidding You must complete and sign a registration form and provide identification before making a bid at auction. Please be aware that we usually require buyers to undergo a credit check. If you have not bid successfully with Spink in the past, or you are registering with us for the first time, we reserve the right to require a deposit of up to 50% of the amount you intend to spend. Such deposit will be deducted from

your invoice should you be successful. If you are unsuccessful at auction, your deposit will be returned by the same means it was paid to Spink. Some Lots may be designated, prior to the auction, as “Premium Lots”, which means a deposit may be required before placing a bid on the item for sale. Information will be posted on our website in such an event.

4.3 Bidding as Principal When making a bid (whether such bids are made in person or by way of telephone bids operated by Spink, commission or online or email bids), you will be deemed to be acting as principal and will be accepting personal liability, unless it has been agreed in writing, at the time of registration, that you are acting as agent on behalf of a third party buyer acceptable to us.

4.4 Commission Bids 4.4.1 If you give us instructions to bid on your behalf, by using the form provided in our catalogues, or via our website, we shall use reasonable endeavours to do so, provided these instructions are received not later than twenty-four hours before the auction. If we receive commission bids on a particular Lot for identical amounts, and at auction these bids are the highest bids for the Lot, it will be sold to the person whose bid was received first. Commission Bids are undertaken subject to other commitments at the time of the sale, and the conduct of the auction may be such that we are unable to bid as requested. Since this is undertaken as a free service to prospective buyers on the terms stated, we cannot accept liability for making (or failing to make) a Commission Bid. You should therefore always attend personally if you wish to be certain of bidding. If we receive two Commission Bids for equal value for the same Lot, the Bid received first by us shall take precedence.

4.4.2. For all Commission Bids, you must supply your name and address, contact telephone number and email. You must also provide the Lot number and description of the Lot, the amount of your Bid and any other information requested in the Commission Bid Form or by us. It is your responsibility to provide the correct information and to ensure that we have received your Commission Bid. 4.4.3 If you submit a Commission Bid verbally (whether by telephone or otherwise), we shall not be responsible for any misunderstandings (by either us or our agent or you) in relation to your bid. All bids made in this way must be confirmed in writing by you before the Auction.

4.4.4 Bids will be executed for mail bidders at one advance over the next highest bid in competition with floor and/or internet bidders, until the maximum bid is executed for the mail bidder, or until the lot is sold. No buy or unlimited bids will be accepted.

4.5 On-line Bidding We offer internet services as a convenience to our clients. We will not be responsible for errors or failures to execute bids placed on the internet, including, without limitation, errors or failures caused by (i) a loss of internet connection by either party for whatever reason; (ii) a breakdown or problems with the online bidding software and/or (iii) a breakdown or problems with your internet connection, computer or system. Execution of on-line internet bids on www.spink.com and Spink Live is a free service undertaken subject to other commitments at the time of the auction and we do not accept liability for failing to execute an online internet bid or for errors or omissions in connection with this activity. Buyers who acquire lots on the-saleroom.com will have a fee of 3% of the Hammer Price added to their invoice for using this facility.

4.6 Telephone Bids If you make arrangements with us not less than twenty-four hours before the sale, we shall use reasonable endeavours to contact you to enable you to participate in bidding by telephone, but in no circumstances will we be liable to either the Seller or you as a result of failure to do so.

4.7 Video Images At some auctions there will be a video screen. Mistakes may occur in its operation, and we cannot be liable to you regarding either the correspondence of the image to the Lot being sold or the quality of the image as a reproduction of the original.

4.8 Bidding Increments Bidding generally opens below the low estimate and advances in the following order although the Auctioneer may vary the bidding increments during the course of the auction. The normal bidding increments are: Up to $100 $100 to $300 $300 to $750 $750 to $1,500 $1,500 to $3,000 $3,000 to $7,500 $7,500 to $15,000 $15,000 to $30,000 $30,000 to $75,000 $75,000 to $150,000 $150,000 to $300,000 $300,000 and up

by $5 by $10 by $25 by $50 by $100 by $250 by $500 by $1,000 by $2,500 by $5,000 by $10,000 Auctioneer’s discretion

4.9 Bidding by Spink 4.9.1 We reserve the right to bid on Lots on the Seller’s behalf up to the amount of the Reserve (if any), which will never be above the low estimate printed in the auction catalogue.

4.9.2 The Spink Group reserves the right to bid on and purchase Lots as principal.

4.9.3 Spink reserves the right to bid on any Lot in the sale. Additionally, Spink may or may not have financial interest in any of the Lot(s) in the sale.

4.10 The Auctioneer’s Discretion 4.10.1 The Auctioneer has the right, to be exercised in good faith, to refuse any bid, to advance the bidding in such manner as he may decide, to withdraw or divide any Lot, and to combine any two or more Lots. Bidding shall be regulated by the Auctioneer.

4.10.2 The Auctioneer may reopen the bidding on a Lot under the following circumstances: (a) the Auctioneer has failed to execute correctly a mail bid; (b) a party purchasing the Lot on the floor has done so in error; (c) where a protest is made after the hammer has fallen but before bidding has commenced on the next Lot; (d) where the Auctioneer has determined that he/she has overlooked a party still bidding on the Lot but before the calling of the next Lot or (e) to effectuate a fair and reasonable resolution of any error or dispute. In the event of a dispute, the Auctioneer’s decision shall be final.

4.10.3 In the event of any dispute between Bidders, the Auctioneer may, at its sole discretion, immediately put the Lot up for sale again. The Auctioneer’s decision shall be final and binding upon all Bidders.

4.10.4 The Auctioneer reserves the right to postpone the sale by auction for a reasonable period of time as a result of any significant event which, in the sole discretion of the Auctioneer, makes it advisable to postpone the event. No prospective Bidder or prospective Buyer shall have recourse as a result of any postponement.

4.11 Successful Bid 4.11.1 The highest Bidder for each Lot shall be the Buyer. Subject to the provisions of Clause 4.10, the striking of the Auctioneer’s hammer marks the acceptance of the highest bid, provided always that such bid is higher than the Reserve (where applicable), and the conclusion of a contract for sale between you and the Seller.

4.12 Spink’s Own Material Auctioneer reserves the right to include in any auction its own material as well as material from affiliated or related companies, principals, officers or employees.

Auctioneer may have direct or indirect interest in any of the Lots in the Auction and may collect commissions.

4.13 After Sale Arrangements If you enter into any private sale agreements for any Lot with the Seller within sixty days of the auction, we, as exclusive agents of the Seller reserve the right to charge you the applicable Buyer’s Premium in accordance with these terms and conditions, and the Seller a commission in accordance with the terms of the Seller’s agreement.

4.14 Return of Lot 4.14.1 All the Lots are sold as genuine. For the purpose of this sale, “genuine” is defined as not faked or forged and Spink will not knowingly sell any item that has been “repaired’, “restored”, “processed”, “cleaned”, “pressed” or “conserved” in any way without disclosure of such facts to the potential Buyer.

4.14.2 No Lots may be returned without a written request by the successful Bidder and the written approval of Spink. In the unlikely event of returning a Lot, Spink must receive notification of the Buyer’s intent within three (3) days of the Buyer’s receipt of the Lot. The following Lots may not be returned for any reason whatsoever: (a) Lots containing ten or more items; (b) Lots described as having faults or defects because of the faults described or any others, including lots described as “repaired”, “corroded”, “holed”, “whizzed”, or similar damage, except for non-authenticity; (c) illustrated Lots because of centering, margins, etc. or other factors shown in the illustrations; (d) Lots described “AS IS”, including third party graded coins or banknotes (i.e. PCGS, NGC, ANACS, ICG); (e) Lots valued primarily for the bullion content; (f) Lots examined by postal viewers; and (g) any philatelic extension Lot unless the conditions set forth in Item 3.4 above is complied with fully. Except for Lots placed on extension, as per the conditions of Item 3.4 above, no Lots may be returned for any reason whatsoever after thirty days from sale date. Late payment for purchase may, at Spink’s option, be considered just cause to revoke all return privileges. If any disputes arise regarding payment, authenticity, or description between the Bidder and Spink, Spink, at its sole discretion, may submit the disputed matter to binding arbitration before the American Arbitration Association in New York, NY, to which the Bidder, by placing a bid and hereby accepting these terms and conditions of sale, agrees to be bound.

5 AFTER THE AUCTION 5.1 Buyer’s Premium and Other Charges In addition to the Hammer Price, a Buyer’s Premium equal to 20% of the successful bid price of each Lot up to and including $2,000.00 and 15% of the excess bid price over $2,000.00, a fee of 3% on the Hammer Price total for using the-saleroom.com, and a surcharge for paying by credit card will be added to each invoice.

5.2 Sales Tax All Lots are subject to applicable state and local taxes, unless appropriate resale certificates are on file with Spink.

5.3 Payment 5.3.1 You must provide us with your full name and permanent address and, if so requested, details of the bank from which any payments to us will be made. You must pay the full amount due (comprising the amounts set forth in Clause 5.1 above and any applicable New York State sales tax, unless the Lot is exempt) within seven days after the date of the sale. This applies even if you wish to export the Lot and an export licence is (or may be) required.

5.3.2 You will not acquire title to the Lot until all amounts due have been paid in full. This includes instances where special arrangements were made for release of the Lot prior to full settlement.

5.3.3 Spink reserves the right to await clearance of any check used for payment before delivery of any item and a $25.00 charge will be applied for any check that fails to clear.

5.3.4 All sales are strictly for cash, check and bank/wire transfer in United States dollars; however, Spink will only accept cash payments under $10,000.00. Spink offers clients the option of paying by credit card (Visa, MasterCard, and American Express only) in United States Dollars for a convenience charge of two-percent (2%) for Visa and MasterCard and four-percent (4%) for American Express, up to a total of $30,000.00. Credit card payments will only be accepted if (a) the purchase is made by the card holder, (b) any purchased items to be shipped are shipped to the cardholder’s verified billing address, (c) floor Bidders present their credit cards and (d) all returns are governed by the terms and conditions of the sale. Payment is due and payable immediately upon receipt of the auction invoice or, if payment is to be made at the auction site, simultaneously with receipt of the purchased items.

5.3.5 Payments should be made by the registered Buyer and not by third parties, unless it has been agreed at the time of registration that you are acting as an agent on behalf of a third party.

5.4 Notification We are not able to notify successful Bidders by telephone. While Invoices are sent out by mail after the auction we do not accept responsibility for notifying you of the result of your bid. You are requested to contact us by telephone or in person as soon as possible after the auction to obtain details of the outcome of your bids to avoid incurring charges for late payment.

5.5 Collection of Purchases 5.5.1 Unless specifically agreed to the contrary, we shall retain Lots purchased until all amounts due to us, or to the Spink Group, have been paid in full. Buyers will be required to pay for their Lot(s) when they wish to take possession of the same, which must be within seven days of the date of the sale, unless prior arrangements have been made with Spink. Without prior agreement, Lots will not be released until cleared funds are received with regard to payments made by check.

5.5.2 Unless we notify you to the contrary, items retained by us will be covered under our insurance policy, which is available for inspection at our offices, from the date of sale for a period of seven days or until the time of collection, whichever is sooner. The risk of loss for the lot purchased by you shall be entirely yours after the earliest of seven days from the date of sale or from the time of collection.

5.5.3 Our policy will not cover and we are unable to accept responsibility for damage caused by woodworm, changes in atmospheric conditions or acts of terrorism.

5.7 Recommended Packers and Shippers 5.7.1 Shipping, handling and administration charges will be added to invoices for Lots delivered by mail. All Lots will be shipped via U.S. Express Mail to Post Office boxes, via Federal Express to street addresses, and via FedEx ground for bulky large lots (in the U.S. only). Buyer will be responsible for the total purchase price in the event of loss. Spink is not responsible for the loss of any merchandise shipped outside the United States. Insurance of any items to be shipped outside the United States is solely the responsibility of the Buyer. It is also the responsibility of the Buyer to provide adequate insurance coverage for the items once they are in his/her possession. Unless the risk of loss has already shifted by virtue of the provisions of Clause 5.5.2, risk of loss shall be borne by the Buyer following shipment of the items and Spink assumes no liability for merchandise lost, stolen or damaged while in the possession of any shipper to whom merchandise has been delivered, nor for any FedEx shipment which is subject to a “signature release” on file with FedEx, or otherwise.

5.7.2 If required, our shipping department may arrange shipment as your agent.

Although we may suggest carriers if specifically requested, our suggestions are made on the basis of our general experience of such parties in the past and we are not responsible to any person to whom we have made a recommendation for the acts or omissions of the third parties concerned.

5.8 Remedies for Non-Payment 5.8.1 If you fail to make payment within fifteen days of the payment date set out by your invoice, we shall be entitled to exercise one or more of the following rights or remedies: 5.8.1.1 to charge interest at the rate of 1.5% per month compound interest, calculated on a daily basis, from the date the full amount is due; 5.8.1.2 to set off against any amounts which Spink or the Spink Group may owe you in any other transaction the outstanding amount remaining unpaid by you; 5.8.1.3 we may retain all or some of the Lot(s) purchased by you, or other property in the possession of Spink or the Spink Group, until you have paid all the amounts you owe us or the Spink Group, even if the unpaid amounts do not relate to those Lots or other property. Following fourteen days’ notice to you of the amount outstanding and remaining unpaid, Spink and the Spink Group shall have the right to arrange the sale of such Lot(s) or other property. We may apply the proceeds of such sale in satisfaction of the debt outstanding and due us or the Spink Group, and may remit any remaining balance to you; 5.8.1.4 where several amounts are owed by you to the Spink Group in respect of different transactions, to apply any amount paid to discharge any amount owed in respect of any particular transaction, whether or not you so direct; 5.8.1.5 to reject at any future auction any bids made by you or on your behalf or obtain a deposit from you before accepting any bids.

5.8.2 If you fail to make payment within thirty-five days, we shall in addition be entitled: 5.8.2.1 to cancel the sale of the Lot or any other item sold to you at the same or any other auction; 5.8.2.2 to arrange a resale of the Lot, publicly or privately, and, if this results in a lower price being obtained, claim the balance from you together with all reasonable costs including a 10% seller’s commission, expenses, damages, legal fees, commissions and premiums of whatever kind associated with both sales or otherwise, incurred in connection with your failure to make payment; or 5.8.2.3 when reselling the Lot, to place a notice in our catalogue stating that you successfully purchased the Lot at auction but have subsequently failed to pay the Hammer Price of the Lot, 5.8.2.4 In the event Spink refers an invoice(s) to an attorney for collection, the Buyer agrees to pay SPINK attorney’s fees, court costs, witness fees and other costs incurred by Spink; 5.8.2.5 take any other reasonable and appropriate action as we deem fit.

5.6 Packing and handling 5.6.1 We shall use all reasonable endeavours to take care when handling and packing a purchased Lot but remind you that after seven days from the date of sale or from the time of collection, whichever is sooner, the risk of loss with respect to the lot purchased by you is entirely yours. Our postage charges are set out in Clause 11 of these Terms and Conditions.

5.6.2 It is the responsibility of the Buyer to be aware of any import duties that may be incurred upon importation to the final destination. Spink will not accept return of any package in order to avoid these duties. The onus is also on the Buyer to be aware of any import restrictions that prohibit the importation of certain collectibles. Spink will not accept return of the Lot(s) if rejected for importation or if Buyer fails to pay appropriate import duties. Spink will not accept responsibility for Lot(s) seized or destroyed by any customs agencies.

5.6.3 Delivery of any Lot(s) to an address other than the invoiced address will be at Spink’s sole discretion.

5.9 Failure to Collect Where purchases are not collected within seven days after the sale, whether or not payment has been made, you will be required to pay a storage charge of $2 per item per day plus any additional handling cost that may apply. You will not be entitled to collect the Lot until all outstanding charges are met, together with payment of all other amounts due to us.

5.10 Refund in the case of Forgery 5.10.1 A sale will be cancelled, and the amount paid refunded to you if a Lot (other than a miscellaneous item not described in the catalogue) sold by us proves to have been a Forgery. We shall not however be obliged to refund any amounts if either (a) the catalogue description or saleroom notice at the auction date corresponded to the generally accepted opinion of scholars or experts at that time, or fairly indicated that there was a conflict of opinions, or (b) it can be demonstrated that the Lot is a Forgery only by means of either a scientific process not generally accepted for use until after publication of the catalogue or a process

which at the date of the auction was unreasonably expensive or impracticable or likely to have caused damage to the Lot. Furthermore, you should note that this refund can be obtained only if the following conditions are met: 5.10.1.1 you must notify us in writing, within seven days of the receipt of the Lot(s), that in your view the Lot concerned is a Forgery; 5.10.1.2 you must then return the item to us within fourteen days from receipt of the Lot(s), in the same condition as at the auction date; and 5.10.1.3 as soon as possible following return of the Lot, you must produce evidence satisfactory to us that the Lot is a Forgery and that you are able to transfer good title to us, free from any third party claims.

5.10.1.4 you must provide us all evidence obtained by you that a Lot is a Forgery no later than seven (7) days after you receive such evidence 5.10.2 In no circumstances shall we be required to pay you any more than the amount paid by you for the Lot concerned and you shall have no claim for interest.

9 NOTICES All notices given under these Terms and Conditions may be served personally, sent by post, or faxed to the address given to the sender by the other party. Any notice sent by post will be deemed to have been received on the second working day after posting or, if the addressee is overseas, on the fifth working day after posting. Any notice sent by fax or served personally will be deemed to be delivered on the first working day following dispatch.

10 ADDITIONAL PROVISIONS 10.1 Limitation of Liability In the event that your bid and/or purchase is in furtherance of a business conducted by you or others, subject to clause 6, we shall not be liable, whether in tort (including for negligence) or breach of statutory duty, contract, misrepresentation or otherwise for any:

5.10.3 The benefit of this guarantee is not capable of being transferred, and is solely for the benefit of the person to whom the original invoice was made out by us in respect of the Lot when sold and who, since the sale, has remained the owner of the Lot without disposing of any interest in it to any third party.

10.1.1 loss of profits, loss of business, depletion of goodwill and/or similar losses, loss of anticipated savings, loss of goods, loss of contract, loss of use, loss of corruption of data or information; or

5.10.4 We shall be entitled to rely on any scientific or other process to establish that the Lot is not a Forgery, whether or not such process was used or in use at the date of the auction.

10.1.2 any special, indirect, consequential or pure economic loss, costs, damages, charges or expenses.

5.11 USE OF DEFAULT INFORMATION If you fail to make payment for a Lot in accordance with these Terms and Conditions:

10.2 Severability

5.11.1 we reserve the right to refuse you the right to make bids for any future auction regardless of whether previous defaults have been settled; and 5.11.2 you consent to us disclosing details of such default to other auctioneers and live bidding platforms, which will include your name, address, nature of the default and the date of the default Auctioneers or live bidding platforms who receive details of the default may rely on such information when deciding whether to enter into a transaction with you in the future.

If any part of these Terms and Conditions is found by any court to be invalid, illegal or unenforceable, that part may be discounted and the rest of the conditions shall continue to be valid and enforceable to the fullest extent permitted by law.

10.3 Force majeure

6.1 death or personal injury resulting from negligence; or

We shall have no liability to you if we are prevented from or delayed in performing our obligations under these terms and conditions or from carrying on our business by acts, events, omissions or accidents beyond our reasonable control, including (without limitation) strikes, lock-outs or other industrial disputes (whether involving our workforce or the workforce of any other party), failure of a utility service or transport network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or default of suppliers or subcontractors.

6.2 any damage or liability incurred by you as a result of our fraud or fraudulent misrepresentation.

10.4 Waiver

6 LIABILITY Nothing in these terms and conditions limits or excludes our liability for:

7. USE OF YOUR PERSONAL INFORMATION 7.1 We will use the personal information you provide to us to: 7.1.1 process your payment relating to a successful purchase of a Lot; 7.1.2 process the bids you make on Lots (whether successful or otherwise) and other auction related services we provide;

10.4.1 A waiver of any right under these terms and conditions is only effective if it is in writing and shall apply only to the circumstances for which it is given. No failure or delay by a party in exercising any right or remedy under these Terms and Conditions or by law shall constitute a waiver of that (or any other) right or remedy, nor preclude or restrict its further exercise. No single or partial exercise of such right or remedy shall preclude or restrict the further exercise of that (or any other) right or remedy.

7.1.3 arrange for delivery of any Lot you purchase, which will include passing your details to shipping providers and, on overseas deliveries, to customs where they make inquiries concerning the Lot;

10.4.2 Unless specifically provided otherwise, rights arising under these Terms and Conditions are cumulative and do not exclude rights provided by law.

7.1.4 inform you about similar products or services that we provide, but you may stop receiving these at any time by contacting us.

10.5 Law and Jurisdiction

7.2 In accordance with Clause 4.2, you agree that we may pass your information to credit reference agencies and that they may keep a record of any search that they perform 7.3 In accordance with Clause 5.11, you agree that where you default in making payment for a Lot in accordance with these Terms and Conditions we may disclose details of such default to other auctioneers and live bidding platforms.

7.4 We work closely with other auctioneers and bidding platforms (including, for example, other auctioneers and live bidding platforms) and may receive information about you from them.

8 COPYRIGHT 8.1 We shall have the right (on a non-exclusive basis) to photograph, video record or otherwise produce an image of the Lot. All rights in such an image will belong to us, and we shall have the right to use it in whatever way we see fit.

8.2 All the materials, including, but not limited to, text, data, graphics, logos, images, illustrations, video clips, and software is owned, controlled by, or licenced to Spink USA Inc. and is protected by copyright, trademark, and other intellectual property rights.

THESE TERMS OF SALE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW. THE SIGNER OF A SPINK BID SHEET OR PARTICIPANT IN THE AUCTION AGREES THAT EXCLUSIVE VENUE FOR ANY DISPUTE WITH RESPECT TO THESE TERMS OR IN CONNECTION WITH SPINK SHALL RESIDE IN A STATE OR FEDERAL COURT LOCATED IN NEW YORK, NEW YORK. IN THE EVENT THAT SPINK HAS NOT PREVIOUSLY SUBMITTED A DISPUTE TO BINDING ARBITRATION PURSUANT TO CLAUSE 4.14.2, SPINK MAY DO SO WITHIN THE TIME IN WHICH IT IS REQUIRED TO FILE A RESPONSIVE PLEADING IN ANY LITIGATION COMMENCED BY BIDDER, AND SAID LITIGATION SHALL BE DISCONTINUED.

11 POSTAGE CHARGES Shipments within the USA - $30.00 Shipments outside the USA - $50.00 Packages of more than 5lb or volumetric measurement of more than 5lb may incur extra charge. Please contact usa@spink.com for calculation of any further relevant cost in addition to the above charges.

SALE CALENDAR 2016 STAMPS 26/27/28 April 9 May 11/12 May 8 June 8 June 11 June 22 June 6 July 6/7 July 13 July 10 September 15 October 26/27 October

The Philatelic Collector’s Series Sale Philatelic Timed Auction The Pre-New York 2016 Collector’s Series Sale The Jose Castillejo Collection of Guatemala, 1871-86 The Stefano Fantaroni Collection of The Kingdom of Italy The Philatelic Collector’s Series Sale Great Britain Stamps and Postal History The Professor Derek Diamond Collection of New Zealand 2d. Chalons and the 1898-1908 Pictorial Issue The Philatelic Collector’s Series Sale Autographs, Historical Documents, Ephemera and Postal History Stamps and Covers of South East Asia The Philatelic Collector’s Series Sale The Philatelic Collector’s Series Sale

London London New York New York New York Hong Kong London

16027 16039 154 155 156 CSS18 16029

London London London Singapore Hong Kong London

16042 16030 16043 16032 CSS20 16034

Ancient Coins The Numismatic Collector’s Series Sale The Academic Collection of Lord Stewartby: English Coins part 2, Coins of Henry II to Edward II Ancient, British & Foreign Coins and Commemorative Medals including European Coins from the Peter Woodhead Collection The Numismatic Collector’s Series Sale The Academic Collection of Lord Stewartby: English Coins part 3, Gold Coins Ancient, British & Foreign Coins and Commemorative Medals The Nicholas Rhodes Collection: Coins of North East India (Part 2)

New York New York London

16020

London Hong Kong London London London

16005 CSS23 16021 16006 16041

The Bruce Smart Collection of Middle East and North Africa British and World Banknotes The Numismatic Collector’s Series Sale World Banknotes The Numismatic Collector’s Series Sale World Banknotes

London London New York London Hong Kong London

16037 16008 324 16009 CSS23 16015

Orders, Decorations, Campaign Medals & Militaria Orders, Decorations, Campaign Medals & Militaria Orders, Decorations, Campaign Medals & Militaria

London London London

16001 16002 16003

Bonds & Share Certificates of the World The Numismatic Collector’s Series Sale The Numismatic Collector’s Series Sale Bonds & Share Certificates of the World

London New York Hong Kong London

16017 324 CSS23 16018

The Numismatic Collector’s Series Sale Autographs, Historical Documents, Ephemera and Postal History

New York London

324 16043

An Evening of Great Whiskies and Spirits An Evening of Great Whiskies and Spirits An Evening of Great Whiskies and Spirits

Hong Kong Hong Kong Singapore

SFW19 SFW20 SFW21

COINS 21 June 22/23 June 28 June 29/30 June 25 August 28 September 28/29 September 29 September

325 324

BANKNOTES 12 April 12/13/14 April 22/23 June 5 July 25 August 26/27 September MEDALS 21 April 21 July 24 November BONDS & SHARES 20 May 22/23 June 25 August 18 November AUTOGRAPHS 22/23 June 13 July WINES 14 April 23 June 9 September

The above sale dates are subject to change Spink offers the following services: – VALUATIONS FOR INSURANCE AND PROBATE FOR INDIVIDUAL ITEMS OR WHOLE COLLECTIONS – – SALES ON A COMMISSION BASIS EITHER OF INDIVIDUAL PIECES OR WHOLE COLLECTIONS –

© Copyright 2016

$20

STAMPS COINS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS BOOKS WINES

145 West 57th Street,18th Floor, New York, New York 10019 www.spink.com