The Gronchi Rosa or Lilac is an iconic modern day philatelic error, highly sought after by collectors of the Italian area. The stamp was called after Giovanni Gronchi, who was elected President of the Republic in 1955. He was the first Catholic politician to become Head of the Italian State. The stamp was a part of 1961 issue for the voyage of President Giovanni Gronchi to three South American countries. Gronchi was scheduled to stop by Argentina, Uruguay and Peru, and the stamps dedicated to each destination were valued at 170, 185 and 205 lire respectively. The stamps became legendary because of Peru’s boundaries. The designer mis-drew the borders of Peru on the 205L stamp and as a result the item was withdrawn the day after issue. The replacement with the correct borders was printed in grey and issued on the 6th of April. Peru’s boundaries make the “Gronchi Rosa” stamp a valuable collector’s item that is now worth around $31,171.