"Inverted Jenny Hand Petit-Needlepoint Stamp"
$750
Hand needlepoint of the famous Inverted Jenny Biplane 24-Cent Postage Stamp
Art Sz: 10"H x 11"W
Frame Sz: 14-3/4"H x 16"W
The Inverted Jenny (also known as an Upside Down Jenny, Jenny Invert) is a 24 cent United States postage stamp first issued on May 10, 1918, in which the image of the Curtiss JN-4 airplane in the center of the design is printed upside-down; it is one of the most famous errors in American philately. Only one pane of 100 of the invert stamps was ever found, making this error one of the most prized in philately.
A single Inverted Jenny was sold at a Robert A. Siegel auction in November 2007 for $977,500. In December 2007 a mint never hinged example was sold for $825,000. The broker of the sale said the buyer was a Wall Street executive who had lost the auction the previous month. A block of four Inverted Jennys was sold at a Robert A. Siegel auction in October 2005 for $2.7 million. In the wake of the 2008 financial meltdown, prices fetched by Inverted Jennys receded. Between January and September 2014, five examples offered at auction sold for sums ranging from $126,000 through $575,100. Prices eventually recovered, for on May 31, 2016, a particularly well-centered Jenny invert, graded XF-superb 95 by Professional Stamp Experts, was sold at a Siegel Auction for a hammer price of $1,175,000 The addition of a 15% buyer's premium raised the total record high price paid for this copy to $1,351,250. On 15 November 2018, the recently discovered position number 49 stamp was auctioned by Robert A. Siegel Auction Galleries for a new record hammer price of $1,350,000, with an 18 percent buyer's premium raising the total cost to US$1,593,000