Once-Stolen Inverted Jenny Heads to Auction October 30th

The story of the McCoy block is one of the most captivating tales tied to the Inverted Jenny. Stolen in 1955 and partially recovered over the years, this block of four stamps has a rich history. Now, as one of these rare stamps heads to auction on October 30th, we revisit the journey of the McCoy block and Mystic Stamp Company’s role in its recovery.

The Birth of a Rarity

On May 14, 1918, the Inverted Jenny was discovered. This 24-cent stamp featured the Curtiss JN-4 “Jenny” airplane. A printing error caused the plane to appear upside-down, creating one of the most famous mistakes in U.S. stamp history. Only one sheet of 100 misprinted stamps made it to the public, making it incredibly rare. Collector William T. Robey bought the sheet on the first day of issue. The Postal Service tried to recover the sheet, but failed. It was sold and later divided into individual stamps and blocks.

The McCoy Block

Ethel B. McCoy, daughter of one of the founders of Dow Jones & Company, was a passionate stamp collector. In 1937, she became a director of the American Air Mail Society, a rare achievement for women in philatelic organizations at the time. McCoy acquired the block of four Jennys in 1936, which included stamps from positions 65-66 and 75-76 of the original sheet. This block was among the best-centered blocks in existence.

For nearly 20 years, Ethel proudly displayed the Inverted Jennys at stamp shows. During an American Philatelic Society convention in Norfolk, Virginia, in 1955, the McCoy block was stolen from its display. Investigators could not find the thief. It wasn’t until 1958 that any trace of the block reappeared.

Position 75 Recovered

In 1958, a Chicago dealer named Louis J. Castelli Jr. offered the lower left stamp from the stolen McCoy block to the Weills of New Orleans. The Weills immediately recognized the stamp and contacted the FBI. The agency said the stamp’s value was too low for them to get involved. With no other choice, the Weills returned it to Castelli, who claimed he had bought it before the 1955 theft.

The stamp resurfaced in 1970 and again in 1977, when the Philatelic Foundation confirmed it as Position 75 from the stolen McCoy block. By then, its value had increased enough for the FBI to get involved. A long custody battle followed the stamp’s recovery. Mrs. McCoy eventually donated the stamp to the American Philatelic Research Library (APRL). In 1981, the library sold it for $115,000. Cherrystone will auction this stamp during the Maitland Collection of U.S. Stamps and Inverted Centers of the World Auction on October 30, 2024.

Position 65 Recovered

During the custody battle for Position 75, another McCoy Jenny appeared. In the spring of 1981, a Chicago businessman named Marcel Lutwak offered to donate parts of his collection to the APRL as a tax write-off. He started with a Jenny Invert. James DeVoss accepted the stamp on behalf of the APRL. DeVoss and other philatelic experts suspected the invert was from the stolen McCoy block. They turned the stamp over to the FBI. The FBI confirmed it was one of the stolen inverts and returned it to the APRL.

Mystic Offers $100,000 for the Return of the Remaining Stamps…

…and Position 76 is Recovered!

In 1988, the APRL offered a $10,000 reward for each of the two missing stamps. Neither stamp was found. In 2014, Donald Sundman, president of Mystic Stamp Company offered a $50,000 reward for each missing stamp to mark the 60th anniversary of the theft. He made this offer on behalf of the APRL. This generous reward reignited interest in the search. It motivated collectors to look for the missing stamps. The reward offer was set to expire on June 4, 2016, the last day of the World Stamp Show in New York.

In April 2016, the third stolen stamp resurfaced when it was consigned for sale to the Spink auction firm in New York. The Philatelic Foundation in Manhattan confirmed it as authentic. Keelin O’Neill, a young man from Northern Ireland, found the stamp in a collection he inherited from his grandfather. Once O’Neill learned the stamp was a stolen McCoy he made sure it was returned to its rightful owner. The recovered Inverted Jenny was transferred to the APRL at the NY2016 World Stamp Show. Don Sundman presented Keelin with the $50,000 reward. Don donated the remaining $50,000 to the APRL after the reward expired.

A Rare Opportunity for Collectors

On October 30, 2024, Position 75 will be auctioned, giving collectors a rare opportunity to own a piece of history. With its dramatic backstory, the stamp is expected to draw significant interest. At Mystic, we hope that the media attention from the sale will bring forward information about the final missing McCoy stamp.

Anyone with information about Position 66 should contact the American Philatelic Research Library.