​The ageless allure of stamp collecting

The passions of stamp collectors 07:25

Robinson is part of a proud tradition of stamp collecting. Once upon a time stamp collectors, known as "philatelists," seemed to be everywhere. There are still die-hard collectors -- and some budding ones. But it's clear the hobby has lost a bit of its luster, which seems a shame to Patrick Donahoe, Postmaster General of the United States.

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Postmaster General Patrick Donohoe with Rita Braver at the National Postal Museum in Washington. CBS News

"I think American stamps tell the story of the American experience," he said. "If you go back to the first postage stamps, [they depicted] Washington and Franklin, the founding fathers of our country. Then, probably around the turn of the century, in 1900, we started issuing what's called commemorative stamps. That's where we got into the history of the U.S.

"And now, we've evolved over time into culture -- even things like birds and flowers."

Donahoe and a citizens advisory committee choose about 35 new stamps to be produced each year, from 20,000 to 30,000 suggestions that pour in.

From the archives: Release of the Elvis stamp... 02:32

The story of American stamps is on display at the Smithsonian's National Postal Museum in Washington, D.C., featuring the number-one bestselling stamp of all time. When the Elvis stamp went on sale in 1993, crowds went wild. (Watch video at left.)


Elvis may be the king of stamps, but the gallery where he sits in state was funded by the king of stamp collectors, billionaire Bill Gross. He's a co-founder of the global investment firm Pimco -- so important, he made headlines a few months ago just for changing jobs.

But when it's time to relax, Gross said, he'd sit with his stamp collections which watching sports programs on weekends. "Yeah, and hopefully not get too excited and rip up some of the stamps!"

He's sold many of his stamps and given the money to charity, but acknowledges spending more than $100 million on his hobby over the years.

He told Braver his aim had been to collect a copy of every single stamp that the U.S. put out during the 19th century. "There's probably 350 to 400 in total," he said.

Including one issued in 1868, featuring Ben Franklin, of which there are only two specimens in the world.

He also got his hands on a more recent rarity: the commemorative of the Inverted Jenny, printed right-side up. "I call it the Inverted Inverted," said Gross.

That's right: Bill Gross was the anonymous buyer of David Robinson's lucky find.

"Did I know what it was worth? Absolutely not," said Gross. "I simply knew that maybe at some point it could be worth $100,000!" he laughed.

Back captaining his boat, Robinson doesn't care if Gross makes a profit off the deal. For him and his wife, it's not really about the money: "We're famous! Gail and I are written into philatelic history now," Robinson said. "Our picture was on the front page of Linn's Stamp News!"

""For someone like you, this is a really big deal," said Braver.

"It's the pinnacle of stamp collecting," he replied, "to make an original discovery like this. And basically every stamp collector in the world for a few weeks [says], 'I wanna be him!'"


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