Lot
2187 
1901, Pan-American, 4¢ deep red brown & black, center inverted, bottom margin plate number single with siderographer's initials, o.g., lightly hinged which is normally encountered with disturbed o.g., deep color and wide margins, slightly rounded corner at top left not detracting, Very Fine; with 2010 P.F. certificate. Scott No. 296a $85,000.
A WONDERFUL PLATE NUMBER SINGLE OF THE 1901 4¢ PAN-AMERICAN INVERTED CENTER - A GREAT RARITY AS ONLY FOUR PLATE NUMBER SINGLES ARE RECORDED.
The 4¢ invert was printed deliberately as the result of a misunderstanding. After the discovery of the 1¢ and 2¢ inverts in mid-1901, the Third Assistant Postmaster, Edwin C. Madden, decided to track down any additional errors. He had his assistant instruct the Bureau of Engraving and Printing to send any inverted Pan-American stamps to Madden's office. No inverted stamps in fact remained on hand, and interpreting Madden's communique as an unconditional demand for inverts, the Bureau produced four sheets of them from the 4 cent plates and sent 400 copies on to Madden. About about half were marked "Specimen" and between 1901 and 1904 Madden distributed 172 examples.