A British Guiana 1850 8c Black on Green "Cotton Reel" stamp auctions later this week.

The rare stamp is one of the highlights of Robert A Siegel Auction Galleries' 2015 Rarities of the World sale on June 25.

The 8c was one of the first four denominations produced in British Guiana

It has a $50,000 estimate - far below the £70,000 ($110,650) SG catalogue price - a result of its "fine" only condition.

"The cotton reel issues are among the most romantic of all stamps in worldwide philately," explains Siegel of the stamp's appeal, adding that it is "especially desirable since it is cut square".

The auction house also states this lot is among the "most desirable" of the extant examples.

The 8c was among four denominations (2c, 4c, 8c and 12c) that formed the first stamps created by British Guiana.

The July 1850 stamps were produced at the Royal Gazette of British Guiana newspaper, and achieved their "Cotton Reel" nickname because of their resemblance to the wooden ends on a cotton thread reel.

Intriguingly, the stamp bears the EDW initials of clerk to the Colonial Post Office, Edmond Dalzell Wight. Wight's initials also appear on the celebrated 1c Magenta British Guiana.

The only example of the 1c, printed six years after the initial four denominations, in 1856, sold for a stamp world record $9.5m last year.

Earlier this month shoe designer Stuart Weitzman revealed himself the owner.

These are busy times at Siegel. Also auctioning this month is a rare cover bearing the Reed's City Despatch stamp, valued at $15,000.

Check out our range of superb rare stamps for sale.

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