The Republic for Which It Stands

Special Installment: Beyond the Lectionary
Old and tattered flags are fetching good prices these days. We value these flags, but what values does Old Glory symbolize?

In May of last year, a 13-star American flag used in James Buchanan's 1856 presidential candidacy run set an auction record when it sold to a Pennsylvania antique business for $275,000. It's not uncommon for historical U.S. flags to sell for more than $20,000, particularly if they have fewer stars than the current version and are from the era before 1912 when the federal government standardized the design.

When it comes to putting a value on old Old Glories, it's actually better if the flags show age and usage, which makes flags an anomaly in the world of collectibles, where for most things, "mint condition" increases value. When it comes to flags, early vintage, faded colors and obvious wear and tear push the cost up.

Some interior designers make a point of using old flags to create a certain ambiance in a room. One man in that field, New York City-based Miles Redd, likes to use them because of their primary hues and because such flags are "incredibly distinguished and graphic."

But,...