This sale brings together a broad and well-balanced selection of stamps and covers from around the world, with material to suit collectors at all levels. There is a strong showing of postal history, and a pleasing mix of individual rarities and substantial specialist ranges. The auction will take place on 10 February 2026, commencing at 10.30am (GMT), in our auction room at 399 Strand and online.One of the most notable parts of this catalogue is the fascinating offerings in the Brazil section, which is particularly strong and deserves close attention. The early classic issues are very well represented, with a fine range of Bull’s Eyes including complete sets and multiples, such as the clear impression set (lot 2076) and the impressive 90r horizontal pair (lot 2078). These are complemented by an excellent showing of Slanting Figures, as well as Upright and Vertical Numerals. The section is further enhanced by a notable selection of Zeppelin and early airmail material, including rare airmail covers and destination mail (lots 2140–2152), and an appealing range of proofs, essays and specialised accumulations. Elsewhere in the sale, the extensive and carefully formed Ceylon collection (lot 2215) stands out as another significant offering, providing depth across both classic and later issues.&nbsp;<a class="ck-btn" target="_blank" rel="noopener noreferrer" href="https://competent-prize-bbe30fc6a2.media.strapiapp.com/S26001_Prices_Realised_1e3394f614.pdf">Prices Realised</a>

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A H Baldwin & Sons Ltd has a history that dates back to 1872, and is one of the largest and longest established numismatic dealers and auction houses in the world. As a distinguished name in the numismatic trade, they have seamlessly transitioned into the world of bullion, bringing unparalleled expertise and commitment to quality to a broader audience.

Established in 1872, Baldwin's has been a cornerstone of the numismatic trade, earning a reputation for integrity, authenticity, and a passion for the rare and precious. For over a century and a half, we have been at the forefront of preserving and promoting the art and history encapsulated within rare coins and precious metals.

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Inflation: 1923 (Nov) 5Mrd on 10Mio M red, rouletted group of 15 complete sheets, all different from Breslau, Erfurt, Konigsberg, Munster, Stettin (2) and eight from Munich, the Breslau sheet with position 50 damaged top of ‘5’ variety, Konigsburg sheet with similar variety in position 99, the Munich sheets numbered 1 to 8, the Stettin are 6 and 8, number 1 sheet of Munich missing bottom right piece of margin, otherwise fine

Germany 1923 roulette 5Mrd on 10 Mio M rouletted sheets

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Margin Scheme

Germany 1923 roulette 5Mrd on 10 Mio M rouletted sheets

Description