Another opportunity to purchase a rare 1918 Jenny Invert is coming up at a September sale by Cherrystone Philatelic Auctioneers in New York City, N.Y.
The sale is scheduled to take place the morning off Sept. 9 at the Cherrystone Auction Galleries. It has a presale estimate of $75,000.
The auction firm describes the position 10 stamp from the pane of 100 24-cent Jenny Invert airmail error stamps as follows:
United States – Air Post 1918 24c carmine rose and blue, center inverted, position 10, natural straight edges at top and right, unused without gum, deep rich colors, just about 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. What is puzzling is how, given the immediate attention created by a spectacular new error, so many of the stamps from the sheet have been poorly handled and stored over the years. In fact, there are at least six examples whose whereabouts are unknown and presumably lost to philately. A great many of the known copies have varying degrees of faults, some are without gum, or have been repaired. In addition, improper hinging has caused a significant number of additional faults, such as thins and creases. The example offered here, while without gum and with the natural straight edges, is still completely sound, an affordable example of this premier United States Rarity (last offered in a 2002 Sotheby’s sale), with 2002 Philatelic Foundation certificate.
Additional information is available at: http://www.cherrystoneauctions.com/_auction/results.asp