Position 22 - 2010-12-14 Transaction Summary

Purchase Date:
2010-12-14
How Purchased:
Auction
Where Purchased:
Cherrystone Auctions, Inc.
Auction No.:
Lot No.:
2009
Sound/Fault:
Sound
Catalogue Value:
$ 500,000
Realized:
$ 345,000
Seller:
Anonymous
Buyer:
Anonymous

Description

UNITED STATES Air Post 1918 24c carmine rose and blue, center inverted, position 22, attractively centered, deep rich colors, full original gum, relatively l.h., small natural paper spot visible only on reverse, fine-very fine. The Inverted Jenny is one of the most recognized and desired rarities in all of philately. Its legendary status began the moment the stamp was issued in May, 1918, when William T. Robey purchased an entire error sheet of 100 at the New York Avenue Post Office window in Washington D.C., one day after the stamp was issued on May 14th. Within one week Robey sold the sheet for $15,000.00 to the well-known Philadelphia stamp dealer Eugene Klein (an impressive return on his initial $24.00 investment). Shortly thereafter Mr. Klein sold the sheet to the renowned, yet eccentric collector, Col. Edward H.R. Green for $20,000.00. Col. Green asked Klein to break up the sheet for him into singles and blocks, then instructed him to sell all but the few key position blocks. ex-Keith Wagner collection, with 2008 PFC
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