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'Uncle Sam' goes to auction: Original 'I Want You' poster for sale

It’s one of the most iconic images in American history.  It’s nearly 100 years old.  And it's for sale.

Four million of American artist James Montgomery Flagg's “I Want You” posters were printed in 1917 and 1918 by the U.S. government to drum up recruitment for World War I.  The poster featuring Uncle Sam has been reproduced thousands of times since then and parodied throughout pop culture.  Only an estimated 50 originals still exist.

Two of those orginals will be up for auction this week courtesy of New York auction house, Guernsey’s.  “’I Want You’ is not only the most iconic World War I poster but probably the most famous poster ever produced on this planet," says Guernsey’s president, Arlan Ettinger. "If you want to have one poster symbolic of that time period, this has got to be it.”

Guernsey's online auction of "I Want You" and other World War I posters will run on June 30 and July 1.  The auction is a collection that comes from the family of Brooklyn native Colonel Edward McCrahon. McCrahon was very passionate about the cause of the Allied Powers and joined the French army before the Americans got involved World War I.

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Once the U.S. entered the war, McCrahon came back and joined the U.S. Army, later rising to the rank of colonel. After the war, “his patriotic feelings continued,” says Ettinger, “And he amassed then what is widely known to be the widest, most comprehensive collection of posters devoted to the war effort that ever existed.”

That collection was exhibited at museums and universities. It's even listed at Ripley’s Believe or Not as the biggest collection in the world, according to Guernsey’s.  Guernsey’s is selling the collection--roughly 2,000 posters-- on behalf of McCrahon’s grandchildren.

In addition to many pieces attempting to boost recruitment, many of the posters in the collection helped sell Liberty Bonds, which financed America's participation in the 'Great War'. The U.S. Treasury issued Liberty Bonds in June and October of 1917 and again in May and October of 1918. The goal was to finance the war effort, but it was also to build patriotism. Men and women at home could help the war effort abroad.

The initial promised interest rate on the first issue of Liberty Bonds was 3.5% which many felt was too low for the market. So the government set out on a marketing campaign. “Keep in mind that during those times there was nothing of a broadcast nature," Ettinger says. Issuing posters "was the way to develop patriotic fervor. To get people to participate. Participate as a volunteer into the war effort. Or participate by making donations to that war effort."

Ettinger anticipates the posters in McCrahon’s collection will sell from the mid-$400s all the way up to $10,000 for the rarest and most desirable.

Notably, it’s a completely unreserved auction which means there are no entry level bids as there are in many auctions where a pre-determined artificial level is set, and if it isn’t reached, the piece doesn’t sell. Ettinger says that makes it exciting because anyone can bid on the “many posters in this auction that are the only known surviving examples.”

Go to Guernsey’s Web site for information about the auction and to see more of McCrahon's collection, which includes posters from several nations on both sides of WWI.