⇚ Position 17 - 1989-11-25 Transaction Summary ⇛
Purchase Date:
1989-11-25
How Purchased:
Auction
Where Purchased:
Steve Ivy Philatelic Auctions
Auction No.:
President's Sale at World Stamp Expo 1989
Lot No.:
4597
Sound/Fault:
Fault
Catalogue Value:
$ 120,000
Realized:
$ 0
Seller:
Buyer:
Anonymous
Description
#C3a, 24c Carmine rose and blue, Center Inverted, a most
attractive example of the most famous error stamp ever produced. The
24c value of the 1918 series of air post stamps was the first air mail stamp
ever issued by the United States. Its purpose was to pay the postage for
letters traveling by airplane between New York, Philadelphia and
Washington, D.C. It was printed in two colors. The central vignette,
printed in blue, pictures a Curtiss Jenny bi-plane. The
frame is in carmine rose. To produce the stamp it was necessary to pass the sheet
through two presses, with one press printing the blue vignette while the second
laid down the carmine rose frame. One full sheet of 100 stamps
was mistakenly fed into the second press upside down resulting in this
error. Actually, it was the frame which was printed upside down and not
the center. However, through the years the error has been referred to as
the center being inverted- a more dramatic presentation. This sheet was
bought in a New York post office by W. T. Robey on May 14, 1918. He
then sold the sheet to Philadelphia dealer Eugene Klein on May 25 for
$15,000.00, a neat little profit on his $24.00 investment. Klein
immediately sold the sheet to the famous Colonel Green sometime between May 25 and June 1. Green broke the sheet up, keeping a portion
for himself and having Klein sell the balance for him.
Today, approximately 80 out of the possible 100 inverts are accounted for. The example
offered here, being position 17, features unusually strong and fresh
colors. It also has full original gum that has been lightly hinged. While
centered a bit to the bottom right its centering certainly can certainly be classified
as very fine for this. There is a trace of a faint diagonal crease that is not
at all readily apparent. It is accompanied by both a 1974 Philatelic
Foundation Certificate and a very recently acquired 1989 Philatelic
Foundation Certificate. An exciting opportunity to own one of the the most famous
of all philatelic rarities.