Position 13 - 2007-06-16 Transaction Summary

Purchase Date:
2007-06-16
How Purchased:
Auction
Where Purchased:
Siegel Auction Galleries
Auction No.:
937-2007 Rarities of the World
Lot No.:
285
Sound/Fault:
Fault
Catalogue Value:
$ 275,000
Realized:
$ 253,000
Buyer:
Anonymous

Description

24c Carmine Rose & Blue, Center Inverted (C3a). Position 13, slightly disturbed original gum, brilliant colors, small thin spots

FINE APPEARANCE. LONG THOUGHT LOST TO PHILATELY, THIS INVERTED "JENNY" IS OFFERED AT AUCTION FOR THE FIRST TIME SINCE EUGENE KLEIN BROKE APART THE SHEET SHORTLY AFTER ITS DISCOVERY. AN ICONIC STAMP AND FANTASTIC PIECE OF AMERICAN PHILATELIC HISTORY.

According to Jenny by George Amick (Amos Press, 1986), the original sheet of 100 Inverted "Jenny" stamps was purchased for $24 by William T. Robey at the New York Avenue Branch Post Office window in Washington D.C., on May 14, 1918, one day after the stamp was first placed on sale at the main post office. On May 20, Robey sold his sheet for $15,000 to Eugene Klein, a Philadelphia stamp dealer. Klein had already arranged to sell the sheet to Col. Edward H. R. Green for $20,000. Colonel Green instructed Klein to divide the Inverted "Jenny" sheet 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 the Inverted "Jenny" 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 climatic conditions. Hinge removal has caused thins and creases in numerous stamps, and a few have been "lost" to philately -- or nearly so, as in the case of the copy swept up in a vacuum cleaner.

Ex Colonel Green. With 2007 P.F. certificate
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