A block of 80 1980 Golden Monkey stamps sold for $163,654 in Zurich Asia's Hong Kong sale on February 7-8.

The stamps are among the most sought after Chinese philatelic items, despite being printed and issued in high numbers (around 5m were produced).

The Golden Monkey issue is hugely popular in China

This is largely because the stamp displays the number 8 on a red background, both strong symbols for good luck in Chinese culture. They have since become popular investment items, with full sheets regularly changing hands for hundreds of thousands of dollars.

The lot that sold was described as displaying excellent colour and in mint state. Another block of 35 Golden Monkey stamps made $103,205.

A sheet of 25 1897 large figures also sold well, realising $32,436.

The issue features surcharges in Arabic numerals and was produced by British post offices during the transitional period prior to the introduction of the 1898 issue.

Today, due to their brief window in which they were produced, the small and large figures remain among the most desirable Chinese stamps.  

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