Posted on 12/27/2007 2:48:48 PM PST by NormsRevenge
DALLAS - One of the most famously flawed stamps in U.S. history sold for $825,000 to a New York man who bought it slightly cheaper than the record price another "Inverted Jenny" copy fetched at auction last month.
The rare 1918 24-cent stamp, depicting an upside-down Curtis JN-4 biplane known as "Jenny," was sold privately this week to a Wall Street executive who did not want to be identified.
Heritage Auction Galleries president Greg Rohan, who brokered the sale, said the buyer is the same collector who lost an auction last month in which another "Inverted Jenny" sold for $977,500. Rohan said his client, whom he described as not being a rare stamp collector, was glad to get another chance at the prized misprint.
"I suspect he's going to enjoy owning it and showing it to a few close friends," Rohan said.
The mint condition red, white and blue stamp is one of the finest known surviving stamps from the original sheet of 100 misprints. The original 100 were bought at a Washington, D.C., post office in 1918.
Randy Shoemaker, founder of Professional Stamp Experts, said there are probably fewer than 1,000 collectors in the world with the money and obsession to seriously pursue such a rare item.
"This is the Rolls-Royce," Shoemaker said. "It's the most expensive airmail stamp in the world."
Rohan said Heritage acquired its stamp from Sonny Hagendorf, a dealer from Scarsdale, N.Y. Rohan said the copy sold by Heritage is one of fewer than five to have never been hinged, meaning affixed with adhesive to be placed in a stamp album.
In this undated photo provided by Heritage Auction Galleries of Dallas, a rare 24-cent stamp depicting an upside-down airplane is shown. The 1918 stamp depicts a Curtiss JN-4 'Jenny,' a World War I training aircraft that became an airmail plane. A collector from New York has purchased the rare 24-cent stamp depicting the upside-down airplane for $825,000, according to Heritage Auction Galleries. (AP Photo/Heritage Auction Galleries)
$825,000 Jennys are cool.
Yes They Are! ;-]
Shoulda sold the Jenny stamp for $8,675,309 instead.
Should have paid $867,530.90 for it.
Randy Shoemaker, founder of Professional Stamp Experts, said there are probably fewer than 1,000 collectors in the world with the money and obsession to seriously pursue such a rare item.
“This is the Rolls-Royce,” Shoemaker said. “It’s the most expensive airmail stamp in the world.”
—
I’d love to be able to bid but I am definitely not a stamp collector of those 1,000 pros ..
Rare is good.. to own, even better.
There was one sheet of them and it was eventually broken up to sell them individually. There are some blocks of 4 from the sheet. I imagine they would go for a huge amount.
I was 8 seconds late.
I mailed a letter with one, but it was returned because of insufficient postage.
I was trying to figure out why you two both threw out such odd amounts as what he should’ve paid. Then I looked at the amounts and noticed that you both used the same numbers.
That’s when it hit me that this was a “Jenny” stamp! Ha ha! Good one!
The sad part? I made a similar joke about the number 8675309 on a thread a couple weeks ago, and I still didn’t catch on when I saw your posts.....
wheww.. so that was you? ;-)
Something he can hold on to?
Rare, Costly Stamp Suspected to Be on Absentee Ballot in Florida
Saturday, November 11, 2006
‘Inverted Jenny’ stamp
FORT LAUDERDALE, Fla. — An absentee ballot was mailed with what may have been a rare stamp worth as much as $200,000 — the famous Inverted Jenny — but the envelope is in a box that by law can’t be opened.
Broward County Commissioner John Rodstrom discovered the stamp while reviewing absentee ballots. There was no name on the envelope, so the vote didn’t count.
What looked like a small stamp collection on one envelope caught Rodstrom’s eye about 8 p.m. Tuesday. At least one was from 1936, Rodstrom said. Then he noticed one had an upside-down World War I-era airplane — the hallmark of an Inverted Jenny.
“I was a stamp collector when I was little,” Rodstrom told The Miami Herald. “I recognized it.”
Rodstrom discussed the stamp with other members of the canvassing board, and a stamp-collecting Broward County sheriff’s deputy overheard them talking about the possible Jenny.
He said the stamp would be very valuable if it was real. But it was too late.
“By that time we had already sealed the box. And once you seal the box, under the election law you can’t unseal it,” Broward County Court Judge Eric Beller said.
Great minds. ;)
I've had quite a few pre-oldster-Alzheimer moments the last week. Blame it on eating a lead paint chip as a kid, or sunspots, or not having had your third cup o' coffee, or ...
That’s got to be an urban myth, right?
Man, that stamp may have been stuck on there accidentally by an elderly owner or such, not wearing their glasses or in control of all their faculties.
What a loss, if true.. I’d offer to open the box just to make sure it was still in there.. :-}
Rare, Costly Stamp Suspected to Be on Absentee Ballot in Florida
Can you imagine using grandma's $800K stamp to mail an absentee ballot that wasn't even counted.
Damn! lol
If I was Grandma, I’d have to cut ‘em out of the will...
I’ve got a couple regular Jenny’s in my collection...
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