A rare American stamp from 1869 showing the Declaration of Independence upside down has sold for a record $1.2 million at a Long Island auction.

The stamp was sold on Saturday at the Philip Weiss Auctions in Oceanside. The stamp is an example of an “invert,” because the image was accidentally printed upside-down.

The auction included 23 other coveted “inverts” — including an unused 1869 inverted center 24-cent U.S. stamp; and the highly prized 24-cent “Inverted Jenny.” Which sold for $265,000.

Philip Weiss Auctions’ next big sale will be held February 23-24, with the estate of a prominent family from Pelham, N.Y. Featured will be items from Harper Publishing — the consignor’s namesake – including a complete run of Harper’s Weeklies. Also sold will be a collection of original illustrative art. February 24 will feature an original oil painting attributed to John Sherburne Blunt, plus a recently discovered, 14th-century oil-on-board painting by Allegretto Nuzi (Italian, 1310-1374).

Philip Weiss Auctions is a full-service auction facility, with a spacious gallery located at #1 Neil Court in Oceanside, N.Y. To learn more about the company and the upcoming auction dates, log on to the new website at www.prwauctions.com. The firm is always accepting quality consignments. To consign an item, estate or collection, call (516) 594-0731, or e-mail to phil@prwauctions.com.

Posted: 02|10|08 at 1:39 pm. Filed under: US News.