REPORT: Rare US stamp ‘Inverted Jenny’ sells for record $2M

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TeamDML offers insights, opinions, podcasts, videos and other forms of content intended to educate and better explain trending news that is made available to the public by third parties. In this particular case, we refer to an excerpt from FOX Business:

An ultra-rare stamp depicting an upside-down aircraft has sold for $2 million at a New York auction, setting the record for the most expensive single U.S. stamp sold.

The stamp, known as the “Inverted Jenny,” was purchased on Wednesday and is known both for its rarity and for the fact that it was printed in error as the plane on it came out upside down.

The red, white and blue colored stamp was purchased by Charles Hack, 76, a stamp collector, who told The Washington Post that it was “the holy grail of postage” and a piece of “American history.”

Featuring a depiction of the Curtiss JN-4 airplane at its center, the stamp is notable for an inadvertent printing error, rendering the image upside down. The original sheet comprising 100 Inverted Jenny errors was acquired by William T. Robey on the inaugural day of sale, May 14, 1918, coinciding with the stamps’ availability in the primary airmail route cities of Washington, D.C., New York, and Philadelphia, as per Siegel auctioneers. During its initial release, each “Inverted Jenny” stamp held a value of $0.24. According to the report, the stamp sold on Wednesday originates from Position 49 on the sheet, and according to Siegel auctioneers, it stands as the finest existing example of the Inverted Jenny.

To get more information about this article, please visit FOX Business.

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