Just under four decades ago, in 1986, Steve Lambert, an employee of a company on the east coast, went to a local post office near McLean, VA to purchase a sheet of 100 one-dollar stamps. The stamps would be used in the course of standard business by the company. So far, so good.
After Lambert purchased the sheet of $1.00 “Americana” stamps with an illustration of a candle, something odd was noticed by another employee. The image of the flame didn’t match up with the top of the candle. In fact, it was upside down in the lower right corner next to the base of the colonial candle holder. Undoubtedly, this was a printing error. So far, even better....
In all, nine employees at the company were privy to the error. They realized, based on previous US stamps with inverted printing issues, they had something of value. Sadly, by the time they discovered the error, five of the stamps had been used on mail including two stamps from the coveted corner “plate block” of four. Still, the remaining 95 could still be worth a lot.
The fly in the ointment came after more information about the acquisition of the stamps became public. You’d think those involved might keep their mouths shut and simply enjoy the spoils of their honest good fortune. Nope. It’s human nature to blab. So far, so bad.
You see, the “company” for whom the employees worked was the Central Intelligence Agency in Langley, VA. Being inherently suspicious about pretty much anything conspiratorial, CIA bosses instituted an ethics investigation accusing the nine employees of “conversion of government property for personal gain.” They demanded the workers surrender their inverted stamps or face a $10,000 fine and/or prison time. Disputes ensued. The case was referred to the Department of Justice. The DOJ determined they had better things to do. So, no prosecution.
In the end, several of the employees returned their stamps. Four others refused and were fired. In the philatelic press, sympathies clearly were on the side of the employees. After all, if not for their perceptiveness, the collectible stamps might never have come to light. Moreover, many contend the CIA was made whole after employees replaced normal stamps for mail-use out of their own pocket.
The biggest benefit has been enjoyed by the hobby. The “CIA Invert,” as it has become known, is the biggest news and most valuable thing for lowly collectors since discovery of the inverted 24-cent Jenny air mail stamp in 1918.
The most interesting part is, “what if?” You see, both the 1918 and 1986 sheets of stamps weren’t printed in panes of 100 but in large quadruple sheets of four at a time. That means 400 were produced – not just 100.
The inverts came to be when a press operator pulled one of the large quad-sheets off to check the quality. He then accidentally replaced it back upside-down before the second printing color(s) were applied. Hence, the invert. So, what of those other three sheets of 100? Where are they?
According to a 1994 story in the hobby publication Scott Stamp Monthly, another full pane of 100 candle invert stamps was found at a postal facility near Las Vegas and destroyed. That’s unsubstantiated.
This month, literally out-of-nowhere, a plate block of four of the inverted candle stamps was listed for sale on eBay for $225,000. Because the lone plate block from the CIA sheet was broken up and used, this is proof positive at least one other sheet exists.
Given the lunacy surrounding the CIA sheet of stamps, this time, the seller isn’t blabbing and remains anonymous. The big question is, if this ostensibly doubles the number of existing candle stamp inverts, what might that do to prices? Single invert candle stamps have recently been bringing around $15,000 each. Only time will tell. In the meantime, another sheet (or two?) may well be out there. As always, it can pay to look at anything just a little closer.
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