AP - Rare stamp sells high at auction

Rare stamp sells high at auction

NEW YORK (AP) _ A rare 1868 U.S. postage stamp has sold for more than $1 million at a New York City auction.

The 3-cent, rose-colored ``B Grill'' stamp was among the highlights of a three-day sale at Siegel Auction Galleries that ended Thursday. The auction house says only three other known examples of the stamp remain. ``B Grill'' refers to an embossed pattern in the stamp paper.

An anonymous buyer made the winning bid of $1,035,000.

The auction also included one of stamp collecting's most famous prizes, the so-called Inverted Jenny from 1918. The 24-cent airmail stamp features a biplane accidentally printed upside down. Only 100 of the red, white and blue stamps were printed.

Siegel says a New Rochelle stamp dealer bought an Inverted Jenny on Thursday for $388,125.