Collecting stamps is a great passion for many people. Such individuals can spend any amount of money to buy certain stamps and include them in their collections. In fact, there are a small group of stamps that are so rare that their value is in millions of dollars. These stamps contain special historical or geographical significance and are the ultimate collector’s items. In no particular order, here are some such rare, precious, and much-vaunted stamps: British Guiana 1 Cent Magenta ($11,628,700) Although the values keep fluctuating, the one-cent “Black on Magenta” of British Guiana from 1856 is widely considered to be the rarest and most valuable stamp out there. The history behind this stamp is fascinating. In 1856, British Guiana, a former colony of the British Empire, needed an extra supply of postage stamps from England. However, the stamps were not arriving immediately. In desperation, the postmaster of British Guiana requested the Official Gazette newspaper to print emergency issues for quick local use. In return, the postmaster received crude-looking stamp designs for one-cent and four-cent denominations; the former was meant for newspapers, while the latter was used for postal correspondence. This story and the locally-published stamps gained popularity, and their values skyrocketed in the later years, especially after the colony achieved independence from the United Kingdom in May 1966.