USA 1918 24c "Inverted Jenny" on ebay

OwenC · **Posted:** Sun Jul 22, 2012 04:30:58 am

Did anyone notice the USA 1918 24c "Inverted Jenny" selling on ebay? :shock:

http://www.ebay.com/itm/C3a-Inverted-Jenny-Stamp-1918-24-cents-Airmail-Position-73-/221073622811

Paumerrek · **Posted:** Sun Jul 22, 2012 04:50:16 am

Well that's something you don't see every day!

JohnBenn · **Posted:** Sun Jul 22, 2012 04:56:05 am

Same stamp being sold by the same seller? Or is this a fly-by-night, who copied and photoshopped the image?

If you are going to sell a rare stamp,provide an image of the certificate and the back of the stamp. Or you will have trouble convincing me.

http://procoin.com/2012/04/24/24c-carmine-rose-blue-center-inverted-1918-airmail-f-vf-75/

JonEboy · **Posted:** Sun Jul 22, 2012 05:03:26 am

Given the rarity of these stamps and the fact that each individual is numbered, isn't there a record of who has what, or am I just being naive?

It seems too much of a coincidence that the same description appears in two places on the net, plus the seller has very little Ebay history.

I'd love to know how they have come to own this item when most American collectors are unlikely to ever see or own one in their lives?

Jon

ProCoin · **Posted:** Sun Jul 22, 2012 06:23:38 am

Hi everyone. Sorry I haven't been on the boards all week. I assure you, the stamp is real, and the listing is real.

OwenC · **Posted:** Sun Jul 22, 2012 06:34:45 am

ProCoin,
First off nice stamp!

Why did you decide to sell on ebay?

ProCoin · **Posted:** Sun Jul 22, 2012 06:38:00 am

It was a business decision. I weighed out the pros and cons, and felt that it would be a good move. I have increased traffic to my site and also received great exposure to some great rarities.

JohnBenn · **Posted:** Sun Jul 22, 2012 06:42:39 am

ProCoin wrote:

Hi everyone. Sorry I haven't been on the boards all week. I assure you, the stamp is real, and the listing is real.

Okay, but don't you think you should add a copy of the certificate, and a photo of the back of the stamp to your listing? This will also insure that you receive more bids.

And if I might be a little nosy? Why are you not selling through an auction house, which will provide you with more peace of mind when it comes to money (instead of the installments you have mentioned in the listing).

ProCoin · **Posted:** Sun Jul 22, 2012 06:50:31 am

First off, let me clarify. The listing states to contact me with payment options, not installments. As to the certification... here you go ...

http://www.psestamp.com/cert/01217540.html

I have already answered about why here, and quite frankly, eBay is a great resource.

I have had the top coin and stamp collectors in the world (with you guys included!) respond to the listings.

I don't mind saying that I am very pleased with the results so far.

As to the images, I am seeing about posting the back now.

aethelwulf · **Posted:** Sun Jul 22, 2012 07:01:32 am

ProCoin wrote:

It was a business decision. I weighed out the pros and cons, and felt that it would be a good move. I have increased traffic to my site and also received great exposure to some great rarities.

So this is just a marketing ploy, or PR-generator or however you want to see it.

Well, hardly a loss-leader, as its listed up with a start bid of $400,000, so no worries that with a 99cent start it only reaches 3 or 4 digits.

And considering that eBay allows free listings, it cost $0 to list this, and lo and behold, look at all the free publicity you're supposedly getting. Is it all positive, well leave that for potential buyers to decide.

Free shipping included, how generous.

ProCoin · **Posted:** Sun Jul 22, 2012 07:13:05 am

What's wrong here?

Yes, very low cost listing. If it sells, not free but very low fees. It's only smart. Definitely not JUST a marketing ploy or PR Generator, yes, all positive. I don't see the negative for the new buyer.

I really don't see what additional peace of mind selling through an auction house would give me. There are many items that are much more expensive listed on eBay every day. I am glad to discuss the stamp with potential buyers, and free shipping, well it only makes sense. I would leave it out, but eBay requires that you state shipping costs.

mikeg · **Posted:** Sun Jul 22, 2012 07:25:35 am

JaceStamps · **Posted:** Sun Jul 22, 2012 07:57:10 am

ProCoin wrote:

Yes, very low cost listing. If it sells, not free but very low fees. It's only smart. Definitely not JUST a marketing ploy or PR Generator, yes, all positive. I don't see the negative for the new buyer.

Makes sense to me, even with the eBay and Paypal fees it will still cost less to sell than any major auction house.

The only down side I see would be the lack of exposure, via philatelic press, etc.

Anyway, best of luck!

ProCoin · **Posted:** Sun Jul 22, 2012 08:03:15 am

Thanks Jace!

JonEboy · **Posted:** Sun Jul 22, 2012 09:48:59 am

ProCoin wrote:

I have already answered about why here, and quite frankly, eBay is a great resource. I have had the top coin and stamp collectors in the world (with you guys included!) respond to the listings. I don't mind saying that I am very pleased with the results so far.

Peter,

Sounds like a plan to me! I wish you all the best with this listing and that I had $400,000 spare

Jon

The Pom · **Posted:** Sun Jul 22, 2012 09:51:54 am

A total of 23 feedbacks as a seller in the last 12 months, mostly for coins. One negative.

Apparently no feedback for selling stamps.

Good luck.

You'll need it.

ProCoin · **Posted:** Sun Jul 22, 2012 10:09:17 am

Thanks for all of your support!

Global Administrator · **Posted:** Sun Jul 22, 2012 12:42:13 pm

The Pom wrote:

A total of 23 feedbacks as a seller in the last 12 months, mostly for coins. One negative.

Apparently no feedback for selling stamps.

Good luck.

You'll need it.

Agree.

Seller has still not bothered to add a scan of the reverse, which either means he does not posses the stamp (my guess) or that this is just a publicity stunt. With zero bids, an inexpensive one. FVF and paypal is when he will see the price of a very decent car vanish in fees.

As long as there are no bids, and there will not be at $400,000 - no problems for him.

A real action house will not get $400,000 in this grade.

This member has been advised to truncate his signature from the current 5 lines as all others happily comply with. Again publicity seeking it seems.

Admin

=======

23. Signatures

We do not wish to restrict your right to display personal views, ideology, etc, but do ask that you remain respectful of others in your signature lines. NO gifs, or still or moving images may be used in signatures. They MUST be in the English language, and we also PREFER that they be in monocolour. And two (2) lines in usual font size is maximum as you can see looking at other member signatures. Dealers or large auctions can link ONE main business website etc, if they choose. ebay/oztion/Delcampe etc member's account names or links to them etc may not be used in signatures, but there are threads where your specific current lots can be freely highlighted to others if you choose! NON stamp related websites may not be used as signatures. Nor can links to other stamp bulletin boards, but a link to your own personal stamp blog is welcomed. If you have any questions as to exactly whether something is acceptable, send a private message to Admin[at]stampboards.com . If your signature does not comply, the Moderators WILL amend it with no notice or advice.

traderpaul · **Posted:** Sun Jul 22, 2012 23:53:00 pm

From a lot description of an Inverted Jenny sold by Siegel in March 2012

http://www.siegelauctions.com/

"It is well-known among stamp specialists and professionals that examples of the Inverted "Jenny" come in different grades of freshness and condition.

Many of the original 100 stamps were mistreated by collectors during the years, despite the stamps' rarity and value.

Colonel Green himself allowed moisture to affect some of the stamps he retained. Other examples have become slightly toned from improper storage and climatic conditions.

Hinge removal has caused thins and creases in numerous stamps, and at least seven have been "lost" to philately -- or nearly so, as in the case of the copy swept up in a vacuum cleaner."

Viewing the back of the stamp would be mandatory to ascertain the value of this stamp given the comment by Siegel above.

Odd that ProCoins has not provided one?

The stamp is encapsulated. Is that a hinderance to scanning the reverse?

ProCoin · **Posted:** Mon Jul 23, 2012 02:09:51 am

Good morning!

Hey guys... take it easy. Yes, I am new to your boards, and was hoping to find some camaraderie here. I am very lucky to be the custodian of these two C3a's. I have tried to share info on them here, for other collectors to look at and enjoy. Yes, it is my business to buy and sell stamps and coins.

Please go back to the description at Seigel that you quoted. No image of the back of the stamp is posted there, nor do I see it as a common practice in listings. Also, the price listed is a far cry from the value that they discussed in the listing. Auction houses are a great venue, but not the only one.

Sorry about the signature. I thought about it, but did not check out the rules all the way. I am sure there are others here that have just checked off the box without reading the full agreements on message boards. Mea culpa, mea culpa. So again, I apologize. No excuse. I have corrected it, and hope this will suffice.

For today, I will probably not be posting a lot. I am at home with my family for a special weekend. (I have seen a few sig lines about being around for the birthdays... is this code for the site's birthday, or personal ones??) Today is my birthday and I made it a point (after seeing those sig lines) to stop in for a quick note!

Gotta run. The kids are up!!!!

stallzer · **Posted:** Mon Jul 23, 2012 02:17:06 am

But the one sold by Siegel was at an auction where the potential buyers could see it in person and examine it. Also there is a huge difference between an ebay seller with 23 seller feebacks and Robert Siegel.

aethelwulf · **Posted:** Mon Jul 23, 2012 03:24:20 am

ProCoin wrote:

I am very lucky to be the custodian of these two C3a's.

What is the other example?

aethelwulf · **Posted:** Mon Jul 23, 2012 03:32:09 am

stallzer wrote:

But the one sold by Siegel was at an auction where the potential buyers could see it in person and examine it. Also there is a huge difference between an ebay seller with 23 seller feebacks and Robert Siegel.

I was about to say the same thing re. pre-auction viewing.

Sure fleaBay offers "buyer protection" and the right to return an item "not as described", but what a bloody hassle that is. Plus, they insist that returns be made at buyer's expense, and by a means that eBay can track, online only. (I returned an item to a seller in Austria...gave eBay a copy of the letter from the PO tracing office confirming delivery, eBay's repeated stance was "but we can't track it online, therefore we won't give you a refund".)

So Johnny Buyer ponies up the 400K, gets the stamp and discovers it has a thin or toning or such on the reverse. They're then on the hook to return it to get their 400K back, so there goes the cost of Fedex or whatever and fees for 400K in insurance. And it is still eBay policy, is it not, that when the buyer and seller are both in the USA, Paypal must be used, unless its an in-person pick-up, in which case the buyer would possibly have the cost and time of a flight (although for someone dropping 400K on a stamp, a couple hundred for a plane ticket is pocket change, though on the other hand they probably have a busy schedule).

Well, wait and see what happens...as a seller, did you set requirements for bidders? Otherwise, there's nothing to stop people from coming along and putting in fake bids and then not paying. They get a UPI strike on their account, just one of those doesn't mean a lifetime ban from eBay, and the item could be this $400,000 or $0.99, the computer doesn't differentiate the severity of the 'crime' in not paying for the item in question.

librarianc · **Posted:** Mon Jul 23, 2012 04:22:35 am

Suppose someone does buy it (hey, they said we'd never get to the moon either - although we only have pictures from a fuzzy TV camera to prove it).........If there becomes any dispute between buyer and seller (thin, crease, any flaw etc. that isn't mentioned in listing), heaven forbid the "auction venue" advises the buyer to destroy the potential item, because one of their office clerks doesn't realize what a PSE certificate is!!!
http://www.stampboards.com/viewtopic.php?f=21&t=33630&hilit=+violin

I'm pretty sure Robert Siegel (or any other major auction venue) does not rely on 3rd party office staff to determine how to handle a dispute over any item purchased at the auction.

You've got kohuna's to use this venue for an item like that.

Quote:

ProCoin wrote:
I am very lucky to be the custodian of these two C3a's.

I sure hope the folks that you are the "custodian" for, have had all the potential side-effects explained to them. I wish you the best of luck in this adventure. It may not have been my choice of sales venue, had I been put into this situation, but if you've been able to market a bunch of other stuff you own and sell, you've already won!

John A

maszki · **Posted:** Mon Jul 23, 2012 05:06:12 am

ProCoin wrote:

Good morning!

Hey guys... take it easy. Yes, I am new to your boards, and was hoping to find some camaraderie here. I am very lucky to be the custodian of these two C3a's. I have tried to share info on them here, for other collectors to look at and enjoy. Yes, it is my business to buy and sell stamps and coins.

Please go back to the description at Seigel that you quoted. No image of the back of the stamp is posted there, nor do I see it as a common practice in listings. Also, the price listed is a far cry from the value that they discussed in the listing. Auction houses are a great venue, but not the only one.

Sorry about the signature. I thought about it, but did not check out the rules all the way. I am sure there are others here that have just checked off the box without reading the full agreements on message boards. Mea culpa, mea culpa. So again, I apologize. No excuse. I have corrected it, and hope this will suffice.

For today, I will probably not be posting a lot. I am at home with my family for a special weekend. (I have seen a few sig lines about being around for the birthdays... is this code for the site's birthday, or personal ones??) Today is my birthday and I made it a point (after seeing those sig lines) to stop in for a quick note!

Gotta run. The kids are up!!!!

ProCoin..forget the downsiders. Yes, to me it makes business sense. No fat auction house premiums, no buyers premiums. Bid $400,000..pay $400,000. I recall Glen giving a hard time to auction houses where you bid $1000 and the seller finishes up with $800 and buyer finishes up paying $1200. So in business terms this is a good way to go.
Good luck, but don't expect me to make a bid. I would have trouble raising the first $400.

stallzer · **Posted:** Mon Jul 23, 2012 08:52:01 am

Pro Coin, since you have the Certification would you mind posting a scan of the real Certification ? The one with the PSE hand stamp ? The copy one receives from PSE has an embossed hand stamp in the upper left corner.

samcam · **Posted:** Mon Jul 23, 2012 10:47:55 am

A authentic certificate looking like this with signature at bottom and embossed seal, the image you have posted lacks these two things and seems like downloaded from the PSE website.

samcam · **Posted:** Mon Jul 23, 2012 10:58:28 am

Check this at PSE website:
http://www.psestamp.com/Cert/01217540/

David Smitham · 13 - 15 September 2013

Good afternoon

Earlier this year Mowbrays were "honoured" to be offered an inverted Jenny for sale. All that we received was a scan of the item. It was able to be plated and when the vendor was pressed to send it to us to physically inspect the stamp - miraculously it had just been sold.

Upon asking what he received for the stamp: US$500,000 was the response.

How nice to receive exactly what it is catalogued at!!

Without any evidence of it being sighted my comment is caveat emptor. This also applies to the item offered on eBay. Sorry, but if it appears too good to be true then it probably is!

David

ajpower · **Posted:** Mon Jul 23, 2012 11:51:43 am

...this is better than my usual Soap Opera. Can't wait to see what happens next with these stamp sleuths....

Global Administrator · **Posted:** Mon Jul 23, 2012 11:59:38 am

samcam wrote:

A authentic certificate looking like this with signature at bottom and embossed seal, the image you have posted lacks these two things and seems like downloaded from the PSE website.

Yes the scan above is taken from the weblink that 'procoin' posted himself - i.e. -

http://www.psestamp.com/cert/01217540.html

I added the scan taken from that link to his post, as being a newbie he may not have known of our policy here that all posts of this nature need scans.

So it is clear there exists a Jenny somewhere that matches the image shown on ebay. Where that stamp is, and who actually owns it are the interesting questions in my head.

As I posted above no person who actually owns an 'Inverted Jenny' would dream of listing it on ebay.

And if they DID, they'd offer a scan of the reverse, and a scans on the actual Cert.

REAL action houses like Seigal of course do not show scans of the reverse as folks are able to physically inspect the stamp themselves or via an auction agent on the several public viewing days before any sale. Durrrhhhh.

Hence my belief posted above ProCoin does not own or posses this stamp. Cheap publicity stunt it appears, but boy what a lovely message to send to any potential clients - 'this guy looks like a scammer'.

Admin

Global Administrator · **Posted:** Mon Jul 23, 2012 12:09:07 pm

David Smitham wrote:

Without any evidence of it being sighted my comment is caveat emptor. This also applies to the item offered on eBay. Sorry, but if it appears too good to be true then it probably is!

David

David .. yes my thoughts too.

In my duty of care to members, seeing we have been unwittingly used as a free publicity outlet it seems, I checked the feedback of this ebay seller "inahenig" -

http://feedback.ebay.com/ws/eBayISAPI.d ... &items=200

Just 6 feedbacks in 6 months. 3rd one down is a NEGATIVE for a $56 compass that did not work - real confidence builer in any seller. Indeed not a single feedback for 6 months. For anything, not even defective compasses.

This ebay seller "inahenig" appears to have ever sold only nickel and dime material as you can see, and a few bullion melt coins. All stuff that any part time dealer would surpass each week.

A couple of big league coins are also listed right now as "Private Auctions" and we all know what message "Private Auctions" on ebay says - possible scam - seller has something to hide.

The coins are like this alleged Jenny stamp offer most likely - a cheap publicity stunt.

Even ebay users laughed at this ebay seller "inahenig" for planning on listing such a rare stamp there - he was of course aksing HOW he could scam ebay into making his listing one of their "Selected Items" - more free publicity.

http://answercenter.ebay.com/question/Auction-Listings/Item-Rarest-Stamp/900332751

Admin

Allanswood · **Posted:** Mon Jul 23, 2012 12:45:45 pm

Sorry but for now my radar is going right off.

It's not hard to have a valuable item 'featured' or on a 'front page/highlighted listing'. The only problem is that it costs money to do so!

I like the bit on the ebay forum about the Paypal limit being $10,000 only. :shock:

I'd love to see some recent scans of both sides of these stamps as he says he has 2 of them. Or at least a new scan of the real certificate that isn't available on the net already?

I wonder what the previous owner of position 73 might say?

Global Administrator · **Posted:** Mon Jul 23, 2012 12:50:48 pm

aethelwulf wrote:

So this is just a marketing ploy, or PR-generator or however you want to see it.

And considering that eBay allows free listings, it cost $0 to list this, and lo and behold, look at all the free publicity you're supposedly getting.

Is it all positive, well leave that for potential buyers to decide.

Is "Free publicity" GOOD publicity though?

Well oddly on the ebay seller "inahenig" there is no mention of the business name or any contact details of this alleged owner that Peter Cabral was certainly happy to use as his 5 line signature here below, until it was truncated to comply with our rules that 2 lines is maximum permitted -

Peter Cabral, President
ProCoin, LLC http://www.ProCoin.com
P.O. Box 7238, Capistrano Beach, CA 92624
(949)429-8150 or (866)472-8126 fax(360)656-7949
info@ProCoin.com

He says he has another "Inverted Jenny" lying about, so maybe he'll add his contact details to the ebay listing when that one goes up?

In a few days anyone googling http://www.ProCoin.com or Peter Cabral or ebay seller "inahenig" will get this thread as a match on page 1 of a google search.

I am not so sure this thread is a good ad any allegedly legit company would want anyone reading?

figmente · **Posted:** Mon Jul 23, 2012 13:35:25 pm

Quote:

... no person who actually owns an 'Inverted Jenny' would dream of listing it on ebay.

I recall that anthonystamps offered one there a while back. It was up for quite a while; I believe that that one was a legitimate offer.

ozstamps · **Posted:** Mon Jul 23, 2012 13:47:50 pm

figmente wrote:

Quote:

... no person who actually owns an 'Inverted Jenny' would dream of listing it on ebay.

I recall that anthonystamps offered one there a while back. It was up for quite a while; I believe that that one was a legitimate offer.

They are a well established ebay stamp seller with about 70,000 feedbacks. THIS seller has not sold a single thing on ebay for 6 months!

As I recall that was a hinged straight edge or re-perforated off-centred copy, and the price a legit auction would get for such a doggie, woof-woof stamp would be very low from informed buyers.

Some ebay Bunny not knowing about grading might have bitten on it at a "low" nett price, if they had read such "Inverted Jenny" stamps had sold for 7 figures.

Never under-estimate (a) GREED, and (b) the dumbness of some ebay bidders.

Allanswood · **Posted:** Mon Jul 23, 2012 14:24:46 pm

The second stamp the seller is offering is from position 9.

Heritage Auctions sold pos 73 in Dec 2009.

And a search of other forums will show that the same seller has been trying to sell this same stamp since at least January 2010!

Global Administrator · **Posted:** Mon Jul 23, 2012 15:56:49 pm

JohnBenn wrote:

Okay, but don't you ... a photo of the back of the stamp to your listing?

Here is why I think. From the catalogue description, from the last time a real auction offered it -

In 1970 the Philatelic Foundation issued a certificate for this stamp with the opinion that it had a "small thin spot", an opinion perhaps based on the ambiguous appearance of a hinge remnant, which has subsequently been removed. ..... we see no trace of a thin, even in fluid, the mention of a thin by the Philatelic Foundation, if this were resubmitted, will not be grounds for return

samcam · **Posted:** Mon Jul 23, 2012 16:21:03 pm

Being too modest a guy I never flaunted the one I possess

it is residing in my US Airmails exhibit - which is still under preparation just waiting for an on-cover example of C3a :wink:

samcam · **Posted:** Mon Jul 23, 2012 16:23:14 pm

Did I mention that I have a bold-letter printed word under the stamp! "FAKE for exhibit reference purposes only."
Saved myself $399995/= on this.

GlenStephens · **Posted:** Mon Jul 23, 2012 17:05:51 pm

aethelwulf wrote:

ProCoin wrote:

I am very lucky to be the custodian of these two C3a's.

What is the other example?

Well this is your lucky day - he says it is the "Locket Copy" and he will do you a bulk deal buy for the BOTH Jeremy -

"Custodian" does not mean "owner" in my dictionary.

I think he might have a client somwhere who actually owns these, and has allowed him to play with the auction house images. Hence no access to scanning the reverse or the Cert.

As some kind of bizarre "show and tell", that may or may not attract some Bunny Buyer at a Blue Sky price they have fixed.

But will publicise his little coin business as a sidebar all the same. :idea:

The Jennies and the few scarce coins on ebay from this usual nickel and dime level ebay seller "inahenig" have all orginated from Heritage Galleries - real auctioneers, a couple of years back.

This points to one buyer who purchased them all a few years back as an 'investment', and now someone thinks parading them on ebay will increase their value seeing the world financial market has gone soft.

Actually it will do the reverse.

Trotting out this stuff on ebay gives the item a whiff of desperation, and makes it clear to all there is probably something to hide, or it would be offered via a real auction, where inspections could take place.

The "locket copy" is about as bad a quality stamp as you will find! Straight edge, poorly centred, 3 creased corners, and gum bends. As the seller described it -

Position 9 - the so-called locket copy, with a short corner perf at the upper left, a small corner crease at the bottom left, another at the bottom right and a natural straight edge at the top." Scott No. C3 "it is genuine unused, o.g., never hinged, with a diagonal gum bend at the upper right, a gum wrinkle at the lower left and a small corner crease at the bottom right

Americans get mesmerised by this stamp for some reason, but in global terms it is not "rare" at all - simply scarce. 100 changed hands to the collector and dealer fraternity from Day #1 in 1918, and even from Australia 100 existing of anything 20th Century makes it only moderately scarce, not RARE.

Stamp world logic says these should change hands for a few $1000 each, not a few HUNDRED $1000s each. "Only In America".

I have a stamp on my Rarity Page now, listed and priced in major catalogues, superb condition, that I offer for $A1,750, and only about 10 copies are recorded for instance -

http://www.glenstephens.com/rarity.html

And every country has similar examples.

Glen

aethelwulf · **Posted:** Mon Jul 23, 2012 17:12:51 pm

Since ProCoin added the PSE cert giving the stamp as position 73, a quick google turned up the answer regarding its provenance.

As Allanswood said, offered by Heritage, in a sale that also included the "Locket copy".

ProCoin claims to have 2 examples available. Their avatar is the locket copy.

Hmmmm.

http://historical.ha.com/c/press-release.zx?releaseId=1758

capetriangle · **Posted:** Tue Jul 24, 2012 04:25:36 am

Glen

Quote:

Stamp world logic says these should change hands for a few $1000 each, not a few HUNDRED $1000s each. "Only In America".

Merely shows that demand is a far more important factor than supply in the case of a notorious world famous stamp error.

Another situation, in my schoolboy Great Britain collection I had a miserable 3-margin Penny Black together with a 2d. blue without white lines which only had a crease. I was immensely proud of the 1840 2d. blue which came from SG in 1965 from a stock page marked 'small faults' for £3.

However I was completely unable to convince my schoolmates, collectors (many of the boys then) and non-collectors alike, that (a) I even owned a Penny Black [after-all they were mostly all convinced that it was a great rarity, they wouldn't accept my statement that there were millions of them] and (b) that the 2d. blue was a far better stamp.

Still have problems today convincing others of some of my opinions about Great Britain stamps. Plus ça change, plus c'est la même chose.

Kindest regards, Richard

aethelwulf · **Posted:** Tue Jul 24, 2012 04:46:29 am

capetriangle wrote:

Still have problems today convincing others of some of my opinions about Great Britain stamps.

Global Administrator · **Posted:** Tue Jul 24, 2012 05:05:58 am

capetriangle wrote:

... together with a 2d. blue without white lines which only had a crease. I was immensely proud of the 1840 2d. blue

My spies at the PF advise it was a 2d with lines, with that a 3 foot tall, one armed Scottish Dwarf with bad acne, had cleverly painted in with barium based ink. It fluoresced bright pink/puce under their WalMart UV light. :lol:

Glen

capetriangle · **Posted:** Tue Jul 24, 2012 05:38:42 am

Glen

Oh no it wasn't!

I did actually sell the stamp with two other lots in a Harmers of London sale, October 19, 1977. It was lot 184, (1840 TWO PENCE BLUE) Plate 1, P-I (recut corner), small to good margins, red Maltese Cross cancellation, vertical crease, otherwise fine. E £50 to £60. It brought £65, which shows that my valuing skills were far better then than now.

I am looking to repurchase it, maybe now it will be photographed in an auction catalogue.

Kindest regards, Richard

ProCoin · **Posted:** Tue Jul 24, 2012 10:47:52 am

Good afternoon. A couple of quick points.

An image of the stamp in the PSE holder was posted on eBay.

You must know that more than one auction house runs their auctions simultaneously on eBay. I see planes, homes, cars, land, rare coins, art, antiques and thousands upon thousands of other wonderful items on eBay daily. No one would dream of listing an Inverted Jenny on eBay? On this forum, there was a dealer mentioned with a 70,000 Feedback rating listing an Inverted Jenny. That is a lot of stamp business on eBay. He has been on eBay since at least 1997, and I have been on since at least 1999. As far as my eBay Feedback rating, please look again. I have a 350 rating, not 23. I have been posting, buying and selling on eBay for over a decade, successfully. Feedback is only part of what an intelligent buyer uses to determine if he wants to bid or not. Please also show me where it is explained or listed on eBay that a Private auction means it’s a scam. Sorry, I missed the memo on that one.

In my humble opinion, when reviewing an auction house listing you need to look at the entire listing. The auction company estimate of the recently sold C3a Inverted Jenny position 24, (PSE OGph, Fine 70) was $450,000.00, and yet it only realized $280,000. That is 62% of the estimate. In the description (that was also quoted in this thread) they continue on to say, “ The SMQ value in Fine 70 is $340,000.00, but it jumps to $650,000.00 in VF 80 (F-VF 75 is not priced). Based on recent market activity and the attractiveness of this sound example of the Inverted "Jenny", we think it will probably outperform its current SMQ value.”

I just went to Professional Stamp Experts website, and under the Stamp Market Quarterly price guide, I saw today’s values at 340k in FN 70, 440k in FVF 75, and 585k in VF80. I think I have asked a fair price on eBay for position 73 of the C3a Inverted Jenny that is PSE certified and encapsulated as F-VF 75 OGph, and have not over-estimated.

FYI - Heritage did not sell Position 73 in December of 2009. I know. I was there in the auction room with 20-30 others. I also was the consignor of both C3a stamps in the auction, Position 73 and position 9 – The Locket Copy featured on the cover of the catalog (which, by the way, also did not sell), as well as many other stamps, some that sold, some that did not.

Aren’t we all just custodians of these great rarities? Isn’t that part of why you collect? I know these were around before me, and will hopefully be around a long time after I am gone.

The same compass sits on my desk and points north. It works just as well today as the day that I sold it, and the day it was returned.

I am not worried about lack of exposure to the philatelic press. I assure you, when there is an important public sale, they will report it, no matter what the venue.

Who here knows how much it costs to have an item featured on eBay’s home page and its’ Twitter and FaceBook pages? When did you do it, and how?

Thank you all for your great comments, and the support of some of you!

capetriangle · **Posted:** Tue Jul 24, 2012 11:18:03 am

ProCoin

To be fair Heritage Auctions was not a real auction house, as far as stamps were concerned - just a large company who decided they wanted to come into the stamp auction business at the top end and failed - they were soon out of the business.

When Position 73 fails to sell through eBay, maybe you should consign it to the current real auction house for U.S. stamps and let the chips fall where they may. They have already recently been unsuccessful with the Locket Copy - some idiot enquired what the stamp might look like outside the locket irritating the auctioneer/president of the firm - so you might decide to keep that example yourself.

Sorry to be the predictor of bad news. Good luck.

Kindest regards

Richard Debney

ProCoin · **Posted:** Tue Jul 24, 2012 11:21:33 am

I don't understand your point about them being recently unsuccessful with the Locket. Please explain what you mean? Do you have a link to this information?

capetriangle · **Posted:** Tue Jul 24, 2012 11:24:02 am

ProCoin

Well, it didn't sell, if my memory serves well.

Kindest regards

Richard Debney


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