A mint condition example of the famed One Penny Black stamp is to headline the Great Britain section of an upcoming philatelic auction in Canada on August 29.

Paul Fraser Collectibles' Penny Black is one of the rarest of the officials

The stamp is a rarity in its mint state, meaning that it remains unused, unhinged and with full original gum. Boasting a nice deep colouration and crisp impression, this fine example is marred only by having just 3½ of its margins intact. Lettered DB at the bottom corners, it was printed from Plate 6 and will be sold in excess of $10,000, including a 2007 Sismondo Certificate.

The world's first postage stamp, the One Penny Black was first issued on May 6, 1840 and remained in use for just over a year. During that time 286,700 sheets and 68.8m individual stamps were printed, and plenty of examples remain on the market today. A poor-quality, used example can sell for as little as £10, however fine marginal examples sell for a much greater price - in 2009 British stamp dealers Stanley Gibbons sold one such stamp for an impressive £250,000.

Also featuring in the sale will be a used example of the Penny Black that features the distinctive Manchester Fishtail cancellation, a highly sought-after mark for used stamp collectors. It will sell with a $600+ estimate, though is likely to far exceed this due to its rarity - the Fishtail cancellation was used only between March and June 1841.

Paul Fraser Collectibles is currently offering a stunning mint condition Penny Black, which is lettered DC with VR in the upper corners and has all four margins. The 1d black with VR in the corners was prepared in 1840 but never issued and stands as one of the rarest of the Officials. See our full collection of Great Britain stamps.