Position 58 - 1998-10-08 Transaction Summary


Purchase Date:
1998-10-08
How Purchased:
Auction
Where Purchased:
Siegel Auction Galleries
Auction No.:
804-The Robert Zoellner Collection
Lot No.:
722
Sound/Fault:
Sound
Catalogue Value:
$ 150,000
Realized:
$ 192,500
Seller:
Buyer:
Anonymous

Description

24c Carmine Rose & Blue, Center Inverted (C3a). Position 58, very well-centered, fresh and bright colors, full original gum which is only barely hinged at bottom left

EXTREMELY FINE GEM. THIS STAMP IS ONE OF THE FINEST POSITIONS, IN TERMS OF CENTERING AND OVERALL CONDITION, THAT EXISTS FROM THE ORIGINAL SHEET OF 100.

According to Jenny by George Amick (Amos Press, 1986), the original sheet of 100 inverted "Jenny" stamps was purchased by William T. Robey on May 14, 1918, one day after the stamp was placed on sale. Robey bought the sheet at the New York Avenue Post Office window in Washington, D.C. Soon after, the sheet was sold to Col. Edward H. R. Green through Eugene Klein, a Philadelphia stamp dealer. Green paid $20,000 for the sheet, then instructed Klein to divide it into singles and blocks, and to sell all but a few key position blocks.

It is well-known among stamp specialists and professionals that examples of this stamp come in different grades of freshness and condition. Many of the original 100 stamps were mistreated by collectors during the years, despite the stamps' rarity and value. Colonel Green himself allowed moisture to affect some of the stamps he retained. Other examples have become slightly toned from improper storage and climactic conditions. Hinging has caused thins and creases in numerous stamps, and at least seven have been "lost" to philately--or nearly so as in the case of the copy swept up in a vacuum cleaner. This example is remarkable for its pristine state of preservation.

This stamp was originally part of a block of four owned by stamp dealer Eugene Klein. It was inherited by Klein's daughter who sold it to Robert A. Siegel. Mr. Siegel sold it to Raymond H. Weill, who placed it with two different anonymous collectors before being asked to break it into singles. This single was sold by Mr. Weill to a Mr. Hoover in 1975, who sold it at auction in 1985 to West Coast collector Bruce McNall. Mr. McNall partly paid for it with an exchange for Position 3.

With 1985 P.F. certificate
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