Every so often, a 1918 “Inverted Jenny” stamp flies onto the auction market, quickening collectors’ pulses. The U.S. Postal Service produced only 100 examples of the 24-cent stamp in which, as a result of a printing error, a Curtiss biplane flies upside down. Back in 2007, one sold at auction for almost $1m. The example that Robert A. Siegel Auction Galleries will offer on June 27th may not be quite as valuable. The stamp is rated a “Fine 70,” with an estimated value of $340,000. It won’t come as a big surprise, however, if the issue sells for a lot more.On May 14, 1918, a buyer named William T. Robey purchased the original sheet of 100 Inverted Jenny stamps for $24 at the New York Avenue Branch Post Office in Washington D.C. Six days later, he sold the sheet for $15,000 to a Philadelphia stamp dealer named Eugene Klein, who turned a quick profit when Col. Edward H.R. Green paid him $20,000. It was Green who decided to break up the sheet into singles and blocks, setting in motion a flurry of sales through the decades.
Inverted Jenny Glides To Market
June 13, 2012
Inverted Jenny May Glide To $450,000
November 1, 2012Even those with little interest in stamps often have heard of the 1918 24-Cent Inverted Jenny, which typically achieves a staggering price. The latest one to appear at auction comes from the illustrious Merlin Collection of U.S. stamps, which Robert A. Siegel will offer in New York on November 28-29. Only one sheet of 100 stamps was produced. This stamp occupied position 48 on the sheet, and is expected to sell for $450,000.
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As Much As $2.4m Expected For Emancipation Proclamation
June 12, 2012When Abraham Lincoln signed the 1863 Emancipation Proclamation, he said, “I never, in my life, felt more certain that I was doing right.” Just 26 signed copies of the historic document that freed the slaves were produced. Robert A. Siegel Auction Galleries will offer one of them, bearing Lincoln’s signature, on June 26th in New York, where it’s expected to sell for $1.8m to $2.4m.
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Rising Value of Unrestored Cars
By Malcolm Welford, Vintage Car Specialist
