Reference estimate: $889,000
Chinese Red Revenue value guide
What Is the Chinese Red Revenue and Why Is It Valuable?
The Chinese Red Revenue is a extremely rare stamp issued by China in 1897, with a reference estimate of $889,000 in this guide. Apply that estimate only after confirming the exact variety, condition and authenticity.
The China 1897 Red Revenue Small One Dollar Surcharge was issued by China in 1897. Similar-looking issues can differ by paper, watermark, perforation, color, overprint or cancellation.
The Red Revenue Small One Dollar is China's rarest regularly issued stamp, with only 32 copies recorded. A red revenue stamp was surcharged for postal use with 'one dollar' in small characters, a surcharge that was soon replaced by a larger one.
Treat the values on this page as editorial reference estimates, not live quotes or guaranteed sale prices. A direct, dated comparable in the same condition is stronger evidence than a broad catalog range.
What Is the Estimated Chinese Red Revenue Value?
This guide uses $889,000 as a reference estimate. Its condition examples range from $200,000to $1,000,000+, but actual results depend on exact variety, authenticity, provenance, certification and sale context.
Market values for the Chinese Red Revenue vary significantly based on condition, provenance, and certification. The premium for mint never-hinged examples reflects the extreme rarity of specimens that have survived in perfect condition since 1897.
These ranges require direct comparable evidence before use in a purchase, sale or insurance decision. Potentially valuable stamps should be authenticated by a recognized philatelic expertizing service.
Why Can the Chinese Red Revenue Value Vary?
Exact variety, condition, authenticity and the quality of the comparable sale all change value. Important factors for this stamp include Only 32 copies recorded, Clarity of the surcharge, Condition and pedigree.
Value caveat: asking prices, catalog values and realized auction prices are different. Compare like with like and note the date, grade, certification and buyer's premium.
How Do I Identify an Authentic Chinese Red Revenue?
Authentic Chinese Red Revenue specimens feature specific characteristics including small black surcharge 當壹圓 (one dollar). Professional authentication is essential for stamps of this value.
Small black surcharge 當壹圓 (one dollar)
Red revenue stamp printed by Waterlow
Revenue stamp converted to postage
The Large One Dollar uses bigger characters
Only 32 copies recorded
Authenticating the Chinese Red Revenue requires expert knowledge and careful examination of multiple factors. Given its extreme value, professional authentication is absolutely essential before any purchase or sale.
Modern technology like StampSnap's recognition app can provide initial identification assistance, but for stamps of this caliber, consultation with certified philatelic experts and professional grading services is strongly recommended.
What Is the History of the Chinese Red Revenue?
The Chinese Red Revenue was issued in 1897 by China and has become one of the most sought-after stamps in philatelic history. Its historical significance and rarity make it a cornerstone piece for serious collectors.
The Chinese Red Revenue holds a unique place in postal history. In 1897, when China's postal service moved to a dollar currency, red 3 cent revenue stamps printed by Waterlow were surcharged for postal use. The $1 surcharge in small characters was replaced by a larger one after complaints that it was hard to read. A copy sold for HK$6.9 million (about US$890,000) at Interasia in Hong Kong in 2013.Its creation in 1897 makes it not just a collectible item but a genuine historical artifact.
The circumstances surrounding its issue have become legendary in philatelic circles. This combination of rarity, historical importance, and compelling backstory contributes significantly to its exceptional market value.
Today, the Chinese Red Revenue is recognized not only by stamp collectors but also by museums and cultural institutions as an important artifact of China's postal and cultural heritage.
Sources & References
- Scott Specialized Catalogue of United States Stamps & Covers - Amos Media Company
- Stanley Gibbons Stamp Catalogue - Stanley Gibbons Ltd.
- Robert A. Siegel Auction Galleries - Siegel Auction Galleries
- Spink Auction Records - Spink and Son Ltd.
- Smithsonian National Postal Museum - Smithsonian Institution