An Inverted Jenny 24¢ position 49 error stamp soared to a staggering $1,593,000 during a sale at Robert A. Siegel Auction Galleries in New York on November 15, 2018.

Made in 1918, the Inverted Jenny depicts a Curtiss JN-4 airplane upside down. It is perhaps the most famous stamp error in American history and with so few known to still exist, it has become the pinnacle of stamp collecting.

This sale set a new record for the stamp, besting the 2016 price of $1.35 million for the position 58 stamp by nearly a quarter of a million dollars.

The famous stamp had been tucked away in a safe deposit box for 100 years and during that time it was rarely exposed to light and was not hinged to an album page. The stamp’s previous owner submitted it to the Philatelic Foundation for authentication earlier in 2018. The stamp was given a grade of fine-90, noted as having pristine gum and being among the best centered examples. At present, the foundation has only certified 85 other examples of this extremely rare stamp.