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Spink USA Recovers Long Lost 24c Inverted Jenny  
 

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Pillar Of The Community

United States
770 Posts
Posted 04/15/2016   2:11 pm  Show Profile Bookmark this topic Add chipg to your friends list  Get a Link to this Message
Press release I got today in my email:

Spink USA is proud to announce that on 1 April a recovery was made of a long-lost 1918 24c Jenny air mail with center inverted when a prospective consignor, who had inherited the stamp, delivered it to their auction galleries for sale.
After careful expert examination the rarity was determined to be position 76 in the pane of 100 subjects. This position is the bottom right stamp from the famous McCoy block of four, which was stolen out of its exhibition frame in 1955 during the American Philatelic Society convention in Norfolk, Virginia.

Ethel McCoy had purchased the block, from positions 65-66, 75-76, in 1936 from stamp dealer Spencer Anderson for $16,000 and it was her most prized possession. After the theft, the block was broken into four singles, and each copy was altered to disguise its appearance.

Position 76 recovered by Spink had been reperforated at right and most of the gum was removed, so the pencil position numbers written on the gummed side had been lost, making identification a challenge.
In 1979 Ms. McCoy assigned all her rights to the block to the American Philatelic Research Library at the American Philatelic Society. Position 75, the top left stamp, turned up in 1958 at a Chicago stamp and coin dealer's shop and position 65, the bottom left stamp, was recovered in 1982.

George Eveleth, Head of the Philatelic Department said: "This is one of the most exciting events in my 38 year career in the stamp auction business." Once legal matters are settled Spink USA will be returning the stamp to its rightful owner, the APRL.

Further images are available on our website here:
https://www.spink.com/press-release...ps&year=2016

For more information, please contact: George Eveleth
Tel: +1 212 262 8400 | Email: geveleth@spink.com
SPINK USA | 145 W. 57th St. 18th Floor | New York | NY 10019
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Valued Member
United States
62 Posts
Posted 04/15/2016   2:32 pm  Show Profile Bookmark this reply Add codehappy to your friends list  Get a Link to this Reply
Wow, exciting news! Does this mean there are only three unaccounted for now?
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Posted 04/15/2016   2:51 pm  Show Profile Check 51studebaker's eBay Listings Bookmark this reply Add 51studebaker to your friends list  Get a Link to this Reply
Announced on April 1st? Seems a strange date to make this kind of announcement.
Don
APS #094826
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Pillar Of The Community
United States
6647 Posts
Posted 04/15/2016   3:24 pm  Show Profile Bookmark this reply Add khj to your friends list  Get a Link to this Reply
I think they announced it today. But the actual "discovery"/identification was made on April 1. Probably not the news that the prospective consignor wanted to hear.
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United States
6647 Posts
Posted 04/15/2016   3:27 pm  Show Profile Bookmark this reply Add khj to your friends list  Get a Link to this Reply
I haven't been keeping up recently, but the last time I updated my list, and removing #76, leaves the following positions unaccounted: 49, 66, 79, and 99.

But again, I haven't updated the list this decade. Does anybody know if any of those 4 have been recovered this past decade?
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United States
2769 Posts
Posted 04/16/2016   5:34 pm  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
Interesting ----The story is that a 20 something young man in England had it and consigned it . He claims that he inherited it from his Grandfather .It will be interesting to find out who his grandfather is .
The young guy wasn't too bright in shipping the stamp to Spinks and having it sent to New York . My guess would be to send it somewhere that doesn't have legal standing with the U.S. and then have it sold there .But its good that the A.P.S. will final get ownership and most likely have Spinks act as auctioneer .
I am waiting to understand how the grandfather came in possession and if they can reconstruct the movement of that stamp thru 60 years .
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Posted 04/16/2016   5:53 pm  Show Profile Check GeoffHa's eBay Listings Bookmark this reply Add GeoffHa to your friends list  Get a Link to this Reply
Do you know the Chicago stamp dealer Mr Castelli, who is referred to in one of the news articles, Floortrader?
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Posted 04/16/2016   6:02 pm  Show Profile Bookmark this reply Add Glenn Estus to your friends list  Get a Link to this Reply
just a minor point, but APS doesn't own it, APRL does.
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United States
338 Posts
Posted 04/16/2016   7:44 pm  Show Profile Bookmark this reply Add knuppster59 to your friends list  Get a Link to this Reply
Pretty cool to hear after all these years one of them turns up. It will be kind of neat if they can find the trail of how it wound up in this guy's grandfather's possession.
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United States
44 Posts
Posted 04/17/2016   10:28 am  Show Profile Bookmark this reply Add irisgarden to your friends list  Get a Link to this Reply
I have a question I'm sure someone knows the answer to. The block was owned by Mrs. McCoy who purchased it in the last 30's. There has been speculation for years what happened to these stamps. By any chance did the term "The real McCoy" originate from this block of stamps?
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Posted 04/17/2016   11:08 am  Show Profile Check Petert4522's eBay Listings Bookmark this reply Add Petert4522 to your friends list  Get a Link to this Reply
Most likely not. If you Google the saying Wikipedia will give you a much more likely answer! The saying is at least 100 years older than Mrs McCoy.

Peter
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Posted 04/17/2016   11:08 am  Show Profile Check Stamps1962's eBay Listings Bookmark this reply Add Stamps1962 to your friends list  Get a Link to this Reply
From what I recall in my reading about this, a then prominent PA auction dealer may have been implicated in the theft. All involved are deceased now so no point in naming anyone, but the dealer may have serve as a 'fence' for the people stealing the stamps.

BTW, we have two separate threads on this topic, shouldn't they be combined?
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Posted 04/17/2016   6:56 pm  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
Geoff ----who me ?..... I don't know nothing about nothing .....I don't know nobody .....why would you ask me about guys like Louie and Marky and those Spilotro brothers all sound like shady characters dealing in stolen "Jennies".....me I don't know nothing about it .
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Posted 04/17/2016   7:18 pm  Show Profile Bookmark this reply Add floortrader to your friends list  Get a Link to this Reply
STAMP 1962 ---Not likely that the thieves would get a civilian involved in trying to fence a hot item like that block of Jennies . The normal method of handling hot stolen property would be for it to move up the chain in the underworld ,with each "pawner" get a small profit to move it up . The big bosses who know little about stamps but know its valueable would have it and then get somebody who they trust who has handled stolen coins and stamps for them in the past . This would be the guy who would break up the block and hide its appearance before it is shopped around for a buyer who doesn't want the police around .
Going from the stamp show in Virginia to Northbrook Il. that block went up the chain of commamd to the top bosses of the Chicago Crime Family .
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Posted 04/19/2016   09:45 am  Show Profile Bookmark this reply Add rustyc to your friends list  Get a Link to this Reply
Wow. I missed the news until I got one of the Linn's email newsletters this morning. I hope we get a lot more details on where this stamp has been since 1955. Fascinating stuff.
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Posted 04/19/2016   11:38 am  Show Profile Check GeoffHa's eBay Listings Bookmark this reply Add GeoffHa to your friends list  Get a Link to this Reply
Floortrader



Odd that Castelli would publicly have offered the stamp, rather than looking for an under-the-counter sale. I wonder if he was the source of the other recovered copy?
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