One of the greatest and most expensive USA philatelic items 24c Inverted Jenny Position 49 is to be sold by Siegel during its auction that will take place on November 14-16. Featuring deep rich color unlike any other specimens, this stamp has been kept in a safety deposit for the past 100 years. According to Siegel “this is the finest example in existence, by virtue of its pristine gum and phenomenal centering”. This bright lot in a mint condition and with long and full perforations all around is expected to fetch more than its catalogue value of $850,000!
On September 6, 2018, the New York Times broke the news that the Inverted Jenny from Position 49 had finally emerged after remaining in seclusion for one hundred years. According to the Philatelic Foundation, the stamp was owned by the descendant of the original collector who bought it in 1918 directly from Eugene Klein, the dealer who divided the sheet on behalf of Colonel Green. This Jenny spent the last century in bank vaults—the gum is in “post office” Mint Never-Hinged state, and the colors and paper are brilliant and fresh.
“Because the stamp was never mounted in an album, it is coveted by collectors as a mint, unhinged copy with its original gum. Only six unhinged Jenny Inverts, including this example, are recorded from the original sheet of 100,” the Foundation reports.
“Based on its centering, bright colors, and its pristine gum, the PF awarded the stamp the grade of 90 “XF” meaning extremely fine condition. It is the highest graded Jenny Invert which still remains in mint unhinged condition 100 years after it was issued.”
This stamp is now the finest Mint NH Inverted Jenny in existence. With a Scott Catalogue value of $850,000, it is possible that the previous record of $1,351,250 will be broken.
