"Inverted Jenny" Is One Hot Stamp

The rare "Inverted Jenny" stamp, one of the most coveted stamps among philatelists, sold for $825,000 through Heritage Auction Galleries. The 24-cent denomination, a U.S. red, white and blue misprint which shows upside-down Curtis 4-N ("Jenny") biplane, was position number 84 on the original sheet of 100. Heritage recently bought the stamp for $750,000 and sold it to a senior Wall Street executive who is a long-time coin collector. Greg Rohan of Heritage had been the under bidder on the same executive's behalf at an auction last month where another "Inverted Jenny" sold for $977,500. Just goes to prove that sometimes losing out in an auction can be a good thing.

[via CNN]