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Inverted Jenny stamp expected to bring $450,000
The legendary Inverted Jenny stamp could provide excellent value to collectors on June 26
Paul Fraser Collectibles, Tuesday 12 June 2012
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A legendary US stamp known as the Inverted Jenny will highlight a June 26 auction in New York.
The auction, entitled Rarities of the World, follows the sale of another Inverted Jenny which made $625,000 at the same auction house in April this year. April's example was part of the renowned Freylinghuysen collection.
Undoubtedly the greatest error in US philately
The Inverted Jenny is so-called due to the image of a Curtiss JN-4 biplane at the centre, which was mistakenly printed upside down. With only 100 of the inverts ever sold, the stamp has become the most famous error in US philately.
The stamp at auction is a fresh and sound example, which could provide excellent value for investors, given past auctions. The stamp, graded Fine 70 by PSE, is valued at $450,000 in the sale, but recent market activity could see it far exceed expectations. In November 2007, one of the famous stamps sold for $977,500, highlighting their popularity with collectors.
Another famed error, the CIA invert, will also be appearing at the auction. The stamp caused controversy in 1979 after CIA employees bought the only sheet of 100 inverted stamps for work purposes, noticed the obvious error and kept the pane for themselves. Of the original pane of 100, only 93 examples are currently available to collectors, warranting a valuation of $18,000. Another CIA invert is also appearing at auction this month, with a $19,000 estimate.
The sale will also feature a rare copy of the Emancipation Proclamation issued by Abraham Lincoln, estimated at $2.4m. Click here to read our preview.
Paul Fraser Collectibles is proud to offer collectors a stamp whose rarity far outstrips any of those in the June 26 auction, The Black Empress. Don't hesitate on this one though, as it won't stick around for long.
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