Stamp collecting may seem a bit old fashioned but rare stamps, however, are selling for hundreds and thousands of pounds. Hence, stamp collection is back in vogue in this world of smart phones and technology. Here is the list of world’s most valuable stamps in the world.

1: The Penny Black was the world's first adhesive postage stamp used in a public postal system. Issued by Great Britain on 1 May 1840, the stamp bears a portrait of Queen Victoria. With the issue of pre-paid postage stamps the Postal System became less complex. Only two pieces of the early issue can be found now and these are regarded as real treasures.

2: Penny Red succeeded penny Black Stamps and continued as the main type of postage stamp in the United Kingdom. The colour was changed from black to red because of difficulty in seeing a cancellation mark on the Penny Black. These Stamps are the really rare as there are only nine in the world. Stanley Gibbons has sold is a British Penny Red for £550,000.

3: The British Guiana’s 1 Cent Magenta is considered to be the rarest and most valuable stamp, for two reasons. Firstly, there is only one left in the world which is exhibited in the Smithsonian Museum and secondly it has a historical value. The story goes like this: At the time, all the colonies had to wait for stamps to arrive from the UK. The boat was delayed, and the postmaster created his own collection of stamps and carries his signature. This stamp was auctioned in New York for $9.5million (£6.4million).

4: This one is an Error Stamp! The Inverted Jenny is a United States postage stamp with an image of Curtiss JN-4 airplane in the centre. On this stamp the design appears upside-down making it the most famous error in American philately. Like British Guiana’s One Cent Magenta, Inverted Jenny is also displayed in Smithsonian museum. Each one is worth about $100,000, depending on its condition.

5: The Tyrian Plum Stamp was issued in the reign of Edward VII, but it actually came out the day he died. It was immediately withdrawn, but a tiny handful got into the market. The stamps bear the portrait of the King and come in the denomination of 2pence. However, they are valued at over £100,000.

6: The Roses Error stamp when released in 1978 had the value of 13 pence. It is, now, worth £130,000. The error is that the denomination value of 13p did not get printed for some reasons. There are only three in the world, out of which two are owned by the Queen herself.

7: The last stamp in the list is a Chinese issue. The Whole Country is Red is a Chinese postage stamp, issued in 1968. The issue of this stamp was commissioned by Chairman Mao as he wanted to represent the hold of communism over entire China. Whole China was to be shown in Red; however, by mistake the designer left Taiwan. The stamp became massively controversial and was immediately recalled. The stamp was auctioned for £60,300 in 2011.