Thursday, October 20, 2005

The New York Times reports that the buyer of the "Inverted Jenny" block of four which was auctioned off on Wednesday was Charles Hack. The article quotes him as saying he was a real estate entrepreneur and stamp enthusiast, and not a dedicated collector.

"I collected as a child, and this was the stamp of my dreams," Mr. Hack said after the sale. He added that he viewed the stamp as a sound investment. "It's an icon of America."

The block went for $2,970,000, which is a new world's record. Forty bidders and observers who gathered for the sale at the Robert A. Siegel Auction Galleries.

After the auction, the seller, Kerby Confer, a Southern radio executive, who had remained anonymous during the 16 years he owned the block, identified himself.

Confer said he had a lifelong passion for collecting stamps and coins and was proud to have been a part of the stamp's history.

For more on the history and background the "Inverted Jenny," click here.
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posted by Don Schilling at 12:02 PM