Position 80 - 2015-02-21 Transaction Summary


Purchase Date:
2015-02-21
How Purchased:
Auction
Where Purchased:
Michael E. Aldrich Auctions
Auction No.:
Lot No.:
537
Sound/Fault:
Sound
Catalogue Value:
$ 350,000
Realized:
$ 132,250
Seller:
Buyer:
Anonymous

Description

Lot 537 - 24c Carmine Rose & Blue, Center Inverted, Position 80, C3a, unused, without gum, sharp colors, the stamp has a straight edge at R. authenticating its position on the sheet.

FINE CENTERING AND AN ATTRACTIVE EXAMPLE OF THE FAMOUS 1918 24-CENT INVERTED JENNY

George Amick (Amos Press, 1986) wrote a book entitled JENNY!, and in his book he describes the original sheet of 100 inverted "Jenny" stamps was purchased by William T. Robey on May 14, 1918. Mr. Robey purchased the sheet at a post office window on New York Avenue in Washington, D.C., one day after the stamp was initially placed on sale. On May 20th Robey sold the sheet of 100 to Eugene Klein who sold it the next day to Col. Edward H. R. Green from Texas, who was the son of the late Hetty Green. Col. Green paid $20,000 for the sheet and then instructed Klein to divide it into singles and blocks. Col. Green retained a number of singles and a few key position blocks.

It is common knowledge among stamp collectors and dealers that examples of this stamp exist in several different grades and conditions. Many of the existing 100 stamps have acquired various faults over the years. Colonel Green allowed moisture to affect some of the single stamps he kept for his collection and to stamps given to others. As a result a few examples of this issue exist without gum, as does this stamp. Also several stamps have various other faults including thins, creases and scuffs. Some examples have been lost to philately and even one stamp was sucked up into a vacuum cleaner. Since the original sheet of 100 had two straight edges, 19 copies initially had a natural straight edge. A couple have since been reperfed on their issued straight edge. Despite the rarity and value of this stamp, even back in the early 1920’s, it is amazing how poorly many of these stamps have been mistreated over the years.

This stamp is fairly well centered, even with the natural straight edge. The color is quite fresh and intense and the paper retains its original slight "bluing" normally found with the C3 Airmail issues.

The history for this particular example is somewhat shorter than other Jenny Inverts. Col. Green retained this stamp, position 80 until his collection was sold by Harmer, Rooke in November, 1943. It next surfaced and sold at auction December, 1970, by Robert A. Siegel. The stamp realized $12,000. It was apparently bought at the Siegel sale by the renowned philatelist and dealer Irwin Weinberg. He submitted and obtained a certificate of authenticity (#35140) from the Philatelic Foundation, in N.Y., N.Y. in February, 1971. A few months later Dr. Sale bought the stamp from Mr. Weinberg and hence he and his family has had possession since his purchase more than 43 years ago. The stamp has a current 2014 PSAG certificate stating: "it is genuine unused, no gum, Pos. 80". Call our office for current openers.

Certification & Provenance: 1971 PFC, 2014 PSAG, Ex. GREEN, WEINBERG
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