Nixon invert
| Nixon invert | |
|---|---|
A block of four plus selvage shows how the inverted portrait falls in between the stamps.
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| Country of production | United States |
| Nature of rarity | Invert error |
| Face value | 32 cents |
| Estimated value | US $$8,000-$10,000 |
The "Nixon invert" was a reputed invert error of the Richard Nixon memorial postage stamp issued by the United States in 1995. Originally reported in January 1996, it drew considerable attention that year; but in December a printing plant employee was arrested on charges of having stolen the misprinted stamps from the plant where he worked, meaning that instead of a legitimate error, they were worthless printer's waste.
The first public notice of the invert came in the form of an announcement by Christie's that they planned to auction a single copy of the invert on February 1, estimating its value at $8,000-$10,000. Christie's did not supply the name of the consignor (a common practice), but did say that the stamp was one of 160.
The appearance of the stamp was that the portrait of Nixon was upside-down, and shifted so that it was split across. The "USA / 32" inscription was at the bottom and also inverted, leaving only the intaglio "Richard Nixon" inscription in its correct orientation and position. This was possible because the stamp was actually printed in two steps. First, the portrait and denomination combination was printed by Barton Press on a Heidelberg six-color sheet-fed offset press, then the stamps were sent to the Bank Note Corporation of America's (BCA) plant in Suffern, New York, where the intaglio inscription was applied using a Giori press. BCA also perforated and finished the stamps.
The claim of 160 stamps and the lack of information on the discovery immediately generated both interest and skepticism. To be a valid error, the stamps must have been sold to a postal customer; until that point, they are simply government property. By comparison, the story of the Inverted Jenny discovery was known in minute detail and verified by multiple persons. In addition, it was unclear to philatelic experts how 160 were possible, given what they knew about size and handling of sheets of stamps.
Christie's auctioned off the one stamp to an unknown collector for $14,500, thus setting a market price. Two days previously, dealer Dana Okey of San Diego had purchased 141 of the inverts from Christie's, and by April was selling them for $12,500, characterizing response as "awesome".
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