Sale 1010 — 2011 Rarities of the World
Sale Date — Saturday, 18 June, 2011
Category — 1918 24-Cent Inverted Jenny
EXTREMELY FINE. A REMARKABLY FRESH AND BEAUTIFULLY CENTERED EXAMPLE OF THE FAMOUS 1918 24-CENT INVERTED "JENNY". THIS STAMP IS ONE OF THE BEST-CENTERED POSITIONS FROM THE DISCOVERY SHEET.
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 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 and for its centering, equalled by only a few stamps in the original sheet (almost all of the others have disturbed gum or faults).
Ex Steffan and Bruechig. With 1969 and 2005 P.F. certificates (the latter graded VF-XF 85) and 2005 P.S.E. certificate (OGph, VF-XF 85; SMQ $810,000.00). The P.S.E. Population Report lists only one graded 95, one graded 85 (this stamp) and two graded 80, followed by others in lower grades.