⇚ Position 24 - 1986-05-26 Transaction Summary ⇛
Purchase Date:
1986-05-26
How Purchased:
Auction
Where Purchased:
Steve Ivy Philatelic Auctions
Auction No.:
AMERIPEX
Lot No.:
576
Sound/Fault:
Fault
Catalogue Value:
$ 110,000
Realized:
$ 82,500
Seller:
Buyer:
Anonymous
Description
#C3a, 24c Carmine rose and blue, Center Inverted, one of the finer known examples
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,
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 100 inverts are accounted
for. This very fine example has original gum. It is free of any faults that have
come to plague several of these stamps. It is accompanied by a 1985 Philatelic Foundation
Certificate of authenticity. An exciting opportunity to own one of the most famous
of all philatelic rarities. This is the second opportunity for us to have the pleasure of offering this particular airmail invert. Its present owner purchased this stamp from our
April, 1984 "Sherman" Sale (lot #1472), at which time he paid $80,000.00, plus the
10% buyer's premium.
According to the Amick book, this sold to a midwest collector, who also owned Position 93.
According to the Amick book, this sold to a midwest collector, who also owned Position 93.