Private First Class Yancey was a member of the 19th Infantry Regiment, 24th Infantry Division. He was seriously wounded by the enemy in South Korea on 10 August 1950 and died of those wounds the following day.

Yancey was awarded the Purple Heart, the Combat Infantryman's Badge, the Korean Service Medal, the United Nations Service Medal, the National Defense Service Medal, the Korean Presidential Unit Citation and the Republic of Korea War Service Medal.