The present invention relates to a polymer microsphere comprising at least one polymer and at least one bound latent colorant, wherein the microsphere is stabilized by at least one stabilizing polymer. The invention also includes a method of preparing polymer microspheres comprising combining latent colorant, ethylenically unsaturated monomer, stabilizing polymer, and an initiator in solvent and initiating polymerization to form a polymeric microsphere stabilized by a stabilizing polymer bound to the surface of the polymeric microsphere.