'Inverted Jenny' stamp realises $625,000 in Frelinghuysen Collection auction
A very rare "Inverted Jenny" stamp made $625,000 in an online auction of The Frelinghuysen Collection.
The sale of a very rare "Inverted Jenny" stamp has ignited the interest of stamp collectors across the globe, reaching a hammer price of $625,000.
The error stamp, which is considered to be one of the rarest United States postage stamps, is known as the "Inverted Jenny" due to the inverted centre illustration of a Curtiss JN-4H bi-plane. Printed as a mistake in 1918, only one pane of these stamps was ever sold. In May 1918, William T. Robey bought the error pane at a Washington D.C post office. After realising its worth, the pane of stamps was broken up and sold. The example sold at auction is from Position 74 and belonged to the collection of former US congressman, Peter H. B. Frelinghuysen who died in 2011. The stamp is noted for its freshness and good condition, having not been seen at auction since 1932, where Peter's mother bought the stamp from his second cousin Senator Joseph Frelinghuysen for $2,750. In a statement issued by the auction house's president, Scott R. Trepel, he said, "the Frelinghuysen copy of the Inverted Jenny is one of the brightest and freshest examples of this world-famous error I have ever seen, and I have personally sold more than half of the stamps from the original sheet."A plate block of the "Inverted Jenny" was sold in 2005 for an impressive $2.97m, while a single stamp made $977,500 in 2007, showing great potential for this classic error stamp. This sale was the second highest ever paid in auction for the popular rarity.If you'relooking to acquire investment-grade stamps, Paul Fraser Collectibles currently has a great range on offer including this exceptional Great Britain 1840 Rainbow Trial Presentation Sheet.