The auction of the Merlin collection of superb quality 19th and 20th century stamps will be highlighted by a highly coveted Inverted Jenny.
The sale will take place on November 28-29 in New York, with the collection offering used stamps from the 1847 issue through to the 1890-1893 Small Bank Note issue, as well as original gum examples beginning with the 1893 Columbian issue and closing with modern rarities.
The Inverted Jenny will undoubtedly attract international attention from the philatelic community as one of just 100 stamps ever printed, of which even less exist today. Many of the original 24c stamps have been mistreated or lost in the years since their original issue, making them incredibly scarce on today's market.
The original sheet was first issued on May 10, 1918 with the vignette - which depicts an inverted "Jenny" airplane - printed upside down. The stamps from this sheet have since become the most famous in US philately, seeing strong bids whenever they appear at auction. In 2005, a unique plate number block of four stamps was sold to financier Bill Gross for $2.9m.
The Inverted Jenny at auction is a fine example, having been only lightly hinged and featuring full perforations and good centring. It originates from position 48 of the sheet, and was once part of a block of four that was first owned by respected dealer Eugene Klein. It is estimated to sell for $450,000, though we believe it is likely to exceed this given auction precedents.
Paul Fraser Collectibles specialises in sourcing the finest investment-grade stamps available. We are currently offering a unique block of four of the Hong Kong 95c olive-bistre colour error, which is regarded as the greatest treasures of Hong Kong philately.