A rare US postage stamp known as the “Inverted Jenny” has fetched an astounding $2 million, setting a new record for the most expensive single US stamp ever sold.
The famed stamp, featuring the iconic image of an upside-down plane, dates back to 1918 and was originally valued at 24 cents.
Stamp collector Charles Hack, 76, made the historic purchase on Wednesday, fulfilling a lifelong dream. The Inverted Jenny stamp’s exceptional value is attributed to its scarcity, with only 100 stamps printed at the time, and the notable error of depicting an upside-down Curtiss JN-4 airplane.
Hack, describing the stamp as the “holy grail of postage,” expressed his longstanding fascination with it, dating back to his childhood. The auction marked a significant moment for philately enthusiasts worldwide.
The Inverted Jenny stamp was originally part of a collection commemorating the initiation of regular airmail service. Its distinct design, featuring the erroneously printed airplane, has made it a highly sought-after item among stamp collectors globally.
Notably, it gained cultural recognition when it appeared in a 1993 episode of the animated sitcom “The Simpsons.”
This extraordinary stamp has experienced a surge in value over the years due to its rarity. Hack, already a proud owner of a few other Inverted Jennys, acquired one in the early 2000s for $300,000 and another, a higher-quality stamp, in 2007 for nearly $1 million.
The recently sold stamp, numbered 49, had been hidden from the public eye for a century after its initial purchase in 1918.
Held in a bank vault by its owner and descendants until its sale in 2018, it is considered “one of the finest centered examples” of the Inverted Jenny. Its limited exposure to light has preserved the stamp’s vibrant colors and bright paper.
In describing the stamp, Siegel Auction Galleries noted, “The gum is Mint Never Hinged, and, since its exposure to light has been limited, the stamp’s colors are rich and the paper is bright.”
Charles Hack, recognizing the Inverted Jenny’s significance as a piece of “American history,” expressed his commitment to continuing the century-long tradition of protecting the stamp from light and preserving its cultural and historical value.
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