(Long Beach, California) - The finest graded 1918 C3a 24-cent airmail postage stamp, the famous "Inverted Jenny," will be displayed at the Long Beach, California Coin, Stamp & Collectibles Expo, May 31 - June 2, 2012.
Graded PSE XF-SUPERB 95 and valued today at $1 million, it will be one of the highlights of a multi-million dollar exhibit of historic collectibles including rare gold coins and over $300,000 of Babe Ruth memorabilia.
"We're setting up a special Collectibles Display area for the first time at the Long Beach Expo to showcase outstanding philatelic, numismatic and sports hobby rarities. Having the finest graded Inverted Jenny on display for the first time in Southern California is a great way to kick off a new tradition," said Ronald J. Gillio, Expo General Chairman.
This well-centered, virtually pristine Inverted Jenny with fresh, bright colors will be displayed courtesy of Robert A. Siegel Auction Galleries of New York. Siegel sold the stamp for $577,000 in its June 2005 Rarities of the World auction.
The stamp is position 58 from the original sheet of 100 inverted error stamps purchased for the face value of $24 by William T. Robey at a post office in Washington, DC on May 14, 1918.
Robey sold the sheet through Philadelphia dealer Eugene Klein to legendary collector Col. Edward H.R. Green who paid $20,000 for it. Individual stamps and blocks subsequently were separated from the original sheet and sold over the years. This stamp was part of a block of four kept by Klein.
According to the 2005 Siegel catalog: "It was inherited by Klein's daughter who sold it to Robert A. Siegel. Mr. Siegel sold it to Raymond H. Weill, who placed it with two different anonymous collectors before being asked to break it into singles. This single was sold by Mr. Weill to a Mr. Hoover in 1975, who sold it at auction in 1985 to West Coast collector Bruce McNall. Mr. McNall partly paid for it with an exchange for Position 3."
The Long Beach Coin, Stamp & Collectibles Expo will be held in the Long Beach, California Convention Center at 100 S. Pine Ave.
It will be open for dealer setup beginning two hours earlier than in the past on Wednesday, May 30, 2012, from noon to 7 pm. Public hours will be Thursday and Friday, May 31 and June 1, from 10 am to 7 pm, and Saturday, June 2, from 10 am to 5 pm.
Public admission is $8 (good for all three days); $4 for members of any coin or stamp club; $4 for seniors 65 and older and for children ages 8 to 16. Free admission is available for PSE, PCGS and PSA Set Registrants, PCGS and PSA Collectors Club members, PCGS and PSA Authorized Dealers and for children ages 7 and younger.
A Schedule of Events is available online at www.LongBeachExpo.com.