A 'Tiny Old Paper' Nearly Worth 3 Billion Won... US Auction Market Buzzes Over Printing Error Stamp

1918 Misprinted US Aviation Stamp
Recognized for Rare Value...Targeted by Collectors

The rare stamp known as the "Holy Grail" of stamp collectors worldwide, the "Inverted Jenny," is set to be auctioned in New York, USA. Due to intense competition, it is expected that the winning bid per stamp could exceed 2 billion KRW.

The New York Times (NYT) reported on the 10th (local time) that the rare American stamp known as the "Inverted Jenny" will be auctioned at the Robert Siegel Auction Gallery in New York on the 8th of next month.

The 'Error Stamp' Inverted Jenny, with the airplane printed upside down. [Image source=Inverted Jenny official website]

The Inverted Jenny is an airmail-only stamp issued in the United States in 1918. At the time, its face value was only 24 cents. In fact, this stamp was created by mistake. The airplane image in the center of the stamp was printed upside down (Inverted).

However, the fact that it is an "error stamp" actually enhanced the rarity of the Inverted Jenny. From the moment 100 copies circulated in the market, it became a target for stamp collectors worldwide. It is also well-known to the public, having appeared in the popular American animated series "The Simpsons."

The Inverted Jenny to be auctioned next month is said to be selected only from the 100 copies that circulated, choosing those in the best condition. The auction organizers estimate that the winning bid for the stamp will reach 2 million USD (approximately 2.7 billion KRW) per piece.

Previously, another Inverted Jenny was sold at auction in 2005 to bond fund manager Bill Gross for 2.97 million USD (approximately 4 billion KRW), so there is a possibility that the winning bid could soar even higher during the auction.

Meanwhile, according to the media, the Inverted Jenny to be auctioned this time had been stored in a safe in the Midwestern United States for decades.