An unused 1869 24-cent inverted U.S. stamp, #120b, sold for $1.271 million (a new world auction record for a U.S. invert) at a multi-estate sale held Feb. 9 by Philip Weiss Auctions in Oceanside, N.Y.

It was a new world auction record for a U.S. invert, eclipsing the $825,000 paid for a 24-cent “Inverted Jenny” sold at auction late last year.

The Philip Weiss sale also featured an Inverted Jenny (so-named because it depicts an upside-down Curtis 4-N “Jenny” bi-plane). That stamp sold for $271,200, making it the third top lot of the sale. In second place, behind the 1869 24-cent stamp, was an 1869 15-cent inverted center stamp, # 119b, unused. It hammered for $757,100. In all, 24 U.S. inverts realized $2.7 million in the auction.

Philip Weiss Auctions is 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.

Posted: 02|13|08 at 10:46 am. Filed under: US News.