Why a Single 'Inverted Jenny' Stamp Sold for $2 Million at Auction

The "Inverted Jenny" stamp, celebrated for its depiction of an accidentally upside-down airplane, is one of the world's rarest and most valuable stamps. Originating from a 1918 issue to commemorate the first U.S. Air Mail, its history is as intriguing as its design.

In May 1918, the Post Office Department started printing over two million new 24-cent stamps to mark the launch of the world's first regularly scheduled airmail service. Clair Aubrey Huston, the designer, based the central illustration on the Curtiss JN-4H “Jenny,” a biplane used in the service's inaugural flights. However, the complexity of Huston's design, which required two separate engraved plates and a hand press, set the stage for a significant error

Indeed, nine sheets of stamps with the airplane depicted upside down were erroneously printed. While eight were destroyed, one sheet escaped detection and was sold to William T. Robey, a stamp collector, for $24. Despite attempts by postal inspectors to recover them, Robey refused and later sold the sheet to a stamp dealer for $15,000, a substantial sum at the time

Over the years, these stamps have changed hands numerous times. Each stamp's unique history adds to its allure; for example, number 78 was found in a vacuum cleaner, and number 66 was stolen in 1955 and remains missing

The recent sale of the Inverted Jenny stamp for a record $2 million can be attributed to several factors. Scott Trepel, president of Siegel Auction Galleries, highlights its status as an iconic stamp, marking a pivotal moment in postal history. The specific stamp sold, known as Position 49, was notable for its excellent condition, having been stored away for decades, thus preserving its colors and paper quality. Trepel rates it a 95 out of 100 in terms of quality, making it one of the best-preserved Inverted Jenny stamps

The fascination with the Inverted Jenny is not just about the stamp itself but also about the stories it encapsulates - from the initial printing error to the adventurous tales of its circulation and the mystery surrounding the remaining stamps. Its recent sale signifies not just a transaction but the passing on of a piece of philatelic and aviation history

The Birth of an Error

The Inverted Jenny's journey began in 1918, during the nascent days of air mail service in the United States. To commemorate this new era, the U.S. Post Office issued a 24-cent stamp featuring the iconic blue Curtiss JN-4 biplane. Amidst the high demand and rapid production, a sheet of 100 stamps escaped the quality control measures, bearing the biplane's image inverted.

Rarity and Value

This printing error instantly transformed the Inverted Jenny into a philatelic treasure. Its rarity is unquestionable: only 100 such stamps are known to exist. Over the years, the value of the Inverted Jenny has skyrocketed, with individual stamps fetching hundreds of thousands to millions of dollars at auctions. For instance, a single Inverted Jenny was sold for $1.35 million in 2016 at a Robert A. Siegel auction, highlighting its status as one of the most valuable stamps in the world.

The Mystique Among Collectors

The Inverted Jenny holds a near-mythical status among collectors. Its allure lies not just in its rarity and value but also in its colorful history. The stamp has been subject to thefts, legal battles, and storied journeys through various collections. Each stamp from the original sheet of 100 has its own tale, tracked meticulously by enthusiasts. The stamp's image, with the upside-down biplane, has become a symbol of philatelic legend, representing the excitement and unpredictability of stamp collecting.

Tales of Ownership

The owners of the Inverted Jenny comprise a who's who of philately. Notable figures such as Colonel Edward H.R. Green, a famed collector, once owned multiple copies. In more recent times, the stamp has found its way into the collections of anonymous enthusiasts and public institutions. Each transition of ownership adds a chapter to the stamp's storied history, weaving a tapestry of intrigue and fascination.

In Conclusion

The Inverted Jenny remains a cornerstone of philatelic history, a testament to the allure of collecting. Its story goes beyond the realms of stamp collecting, offering a glimpse into early aviation history, the evolution of the postal service, and the human penchant for valuing the unique and the accidental. As it continues to captivate collectors and the public alike, the Inverted Jenny stands as a perpetual reminder of the intriguing interplay between error and value, history and legend.

Sauce:

1. Smithsonian Magazine: "Why Collectors Fall Head Over Heels for the 'Inverted Jenny' Stamp" Smithsonian Magazine

2. WETS.org: "This rare stamp sold for a record $2 million" WETS.org