Sale 1034 — The Merlin Collection of Superb United States Stamps
Sale Date — Wednesday-Thursday, 28-29 November, 2012
Category — 1894 Bureau Issue (Scott 246-263)
1c Ultramarine (246). Original gum, lightly hinged, radiant color on crisp paper, perfectly centered with Jumbo margins, Extremely Fine Gem, a stamp of massive proportions, with 2009 P.S.E. certificate (OGph, Superb 98 Jumbo; unpriced in SMQ above the grade of 98, SMQ $250.00 as 98), this is the highest grade awarded and the only example to achieve it
1c Blue (247). Mint N.H., intense shade and impression on bright paper, unusually choice centering with Jumbo margins, long and full perforations all aroundEXTREMELY FINE GEM. A SUPERB MINT NEVER-HINGED EXAMPLE OF THE 1894 ONE-CENT BLUE ON UNWATERMARKED PAPER.
With 2000 P.F. and 2006 P.S.E. certificates (XF-Superb 95; SMQ $2,100.00 as 95, unpriced as 98). This is the highest grade awarded and only two others share it.
2c Pink, Ty. I (248). Original gum, single hinge mark, brilliant color, mathematically perfect centering with Jumbo margins, Extremely Fine Gem, a phenomenal stamp, with 2007 P.S.E. certificate (OGph, Gem 100 Jumbo, unpriced in SMQ above the grade of 98, SMQ $250.00 as 98), this is the highest grade possible on the grading chart and this is the only stamp to be awarded this grade in any category (used, No Gum, OG or Mint N.H.)
2c Carmine Lake, Ty. I (249). Mint N.H., beautiful dark shade and proof-like impression on fresh paper, long full perfs all around, mathematically perfect centering with Jumbo marginsEXTREMELY FINE GEM. A SPECTACULAR ONE-OF-A-KIND EXAMPLE OF THE UNWATERMARKED 2-CENT TYPE I 1894 ISSUE IN THE CARMINE LAKE SHADE. THIS MAGNIFICENT MINT NEVER-HINGED STAMP HAS BEEN AWARDED THE GRADE OF GEM 100 JUMBO BY P.S.E. -- IT IS THE ONLY EXAMPLE TO ACHIEVE THIS ULTIMATE GRADE.
As collectors of the First Bureau Issue know, great difficulty was experienced in perforating the stamps, either due to poor equipment or improper operation. Choppy, ragged perfs and poor centering are so common on this issue that it is often possible to separate the 1894 unwatermarked stamps from the 1895 watermarked stamps by the appearance of the perforations alone. This example, with precise centering, Jumbo margins and perfectly formed perforations is an extreme condition rarity.
Ex Whitman. With 1995 P.F. and 2008 P.S.E. certificates (Gem 100 Jumbo, unpriced in SMQ above the grade of 98, SMQ $14,300.00 as 98). This is the only stamp to achieve this perfect grade in the P.S.E. Population Report. No other examples in any condition grade above 98J
2c Carmine, Ty. I (250). Original gum, single hinge mark, vibrant color, enormous margins, Extremely Fine Gem, with 2004 P.S.E. certificate (OGph, XF-Superb 95; SMQ $135.00 as 95, $230.00 as 98), only two have graded higher and none share this grade
2c Carmine, Ty. II (251). Mint N.H., brilliant color on bright white paper, almost perfectly centered amid wide marginsEXTREMELY FINE GEM. A SUPERB MINT NEVER-HINGED EXAMPLE OF THE 2-CENT TYPE II 1894 UNWATERMARKED BUREAU ISSUE, GRADED XF-SUPERB 95 BY P.S.E.
With 2002 P.F. and 2009 P.S.E. certificates (XF-Superb 95; SMQ $9,000.00). This is the highest grade awarded and only one other example shares this grade
2c Carmine, Ty. III (252). Mint N.H., brilliant color, unusually choice centering with balanced marginsEXTREMELY FINE GEM. A BEAUTIFUL MINT NEVER-HINGED EXAMPLE OF THE 1894 2-CENT TYPE III UNWATERMARKED BUREAU ISSUE IN THE CARMINE COLOR. THIS STAMP HAS BEEN GIVEN THE GRADE OF 95 BY P.S.E.
With 2011 P.S.E. certificate (XF-Superb 95; SMQ $3,900.00). Only one has graded higher (at 98) and two others share this grade.
3c Purple (253). Mint N.H., bright shade and paper, detailed impression, long and full perforations all aroundEXTREMELY FINE GEM. A SUPERB MINT NEVER-HINGED EXAMPLE OF THE 1894 3-CENT UNWATERMARKED BUREAU ISSUE.
With 2011 P.S.E. certificate (XF-Superb 95; SMQ $3,400.00). Only one has graded higher (at 98) and seven others share this grade.
4c Dark Brown (254). Mint N.H., intense shade and impression, phenomenal centering with Jumbo marginsEXTREMELY FINE GEM. AN ABSOLUTELY STUNNING MINT NEVER-HINGED EXAMPLE OF THE 1894 4-CENT UNWATERMARKED BUREAU ISSUE, WHICH HAS BEEN GRADED SUPERB 98 JUMBO BY P.S.E. -- THIS IS THE HIGHEST GRADE AWARDED. A TRULY REMARKABLE STAMP.
With 1999 P.F. and 2005 P.S.E. certificates (Superb 98 Jumbo; unpriced in SMQ above the grade of 98, SMQ $11,000.00 as 98). This is the highest grade awarded and only one other shares it. We have never seen the other but we would be interested in comparing margin size as this has the widest we have ever encountered.
5c Chocolate (255). Original gum, single hinge mark, pretty shade on bright paper, wide margins, Extremely Fine Gem, with 2004 P.F. and 2005 P.S.E. certificates (Mint OG, XF-Superb 95; SMQ $360.00)
6c Dull Brown (256). Original gum, lightly hinged, radiant color on bright paper, beautiful centering, Extremely Fine Gem, with 2006 P.S.E. certificate (OGph, XF-Superb 95; SMQ $575.00)
8c Violet Brown (257). Mint N.H., intense shade and impression on post-office fresh paper, wide and balanced marginsEXTREMELY FINE GEM. A BEAUTIFUL MINT NEVER-HINGED EXAMPLE OF THE 1894 UNWATERMARKED 8-CENT BUREAU ISSUE.
Ex Whitman. With 1996 P.F. and 2008 P.S.E. certificates (XF-Superb 95; SMQ $3,400.00). Only one example has graded higher in the P.S.E. Population Report (at 98) and only two others share this grade. This statistic has not changed since 2009.
10c Dark Green (258). Original gum which has been hinged several times, bright color, well-balanced margins, Extremely Fine, with 2007 P.S.E. certificate (OGh, XF-Superb 95; SMQ $1,100.00)
15c Dark Blue (259). Original gum, single hinge mark, also showing stitch watermark, deep rich color and detailed impression on bright paper, unusually choice centering with Jumbo margins, Extremely Fine Gem, with 1984, 1994 P.F. and 2008 P.S.E. certificates (OGph, XF-Superb 95; SMQ $1,150.00 as 95, unpriced in SMQ as 98), this is the highest grade awarded and only one other shares it
50c Orange (260). Original gum, light trace of hinging, brilliant color, almost perfectly centered with wide and balanced margins, Extremely Fine Gem, with 2006 P.S.E. certificate (OGph, XF-Superb 95; SMQ $1,650.00), only one has graded higher and four others share this grade
$1.00 Black (261). Original gum, lightly hinged, perfectly centered with enormous margins on all sides, intense shade and sharp proof-like impressionEXTREMELY FINE GEM. THIS MASSIVE ORIGINAL-GUM EXAMPLE OF THE $1.00 TYPE I UNWATERMARKED BUREAU ISSUE HAS BEEN GRADED SUPERB 98 JUMBO BY P.S.E, THE HIGHEST GRADE AWARDED.
With 2011 P.S.E. certificate (OGph, Superb 98 Jumbo; unpriced in SMQ above the grade of 98, SMQ $6,200.00 as 98). This is the highest grade awarded (for Mint N.H. one copy shares it and one Mint N.H. has graded 100)
$1.00 Black (261). Original gum, lightly hinged, perfectly centered with massive margins all around, intense shade and detailed impressionEXTREMELY FINE GEM. A MAGNIFICENT ORIGINAL-GUM EXAMPLE OF THE $1.00 TYPE I UNWATERMARKED BUREAU ISSUE. A STAMP OF TRULY MASSIVE PROPORTIONS.
P.S.E. encapsulated (OGph, XF-Superb 95 Jumbo; SMQ $3,200.00 as 95, $6,200.00 as 98). Only two have graded higher and only four others share this grade.
$1.00 Black, Ty. II (261A). Original gum, lightly hinged, intense shade and proof-like impression on bright paper, gorgeous centering with unusually wide and balanced marginsEXTREMELY FINE GEM. A SUPERB ORIGINAL-GUM EXAMPLE OF THE 1894 $1.00 TYPE II UNWATERMARKED BUREAU ISSUE, WHICH HAS BEEN GRADED SUPERB 98 BY P.S.E. -- THIS IS THE HIGHEST GRADE AWARDED IN ANY CATEGORY.
With 2011 P.S.E. certificate (OGph, Superb 98; SMQ $11,000.00). This is the highest grade awarded in any category and only other shares this grade.
$2.00 Bright Blue (262). Original gum, single hinge mark, wonderful warm color, unusually wide margins for this issueEXTREMELY FINE GEM. A BEAUTIFUL ORIGINAL-GUM EXAMPLE OF THE 1894 $2.00 UNWATERMARKED BUREAU ISSUE, WHICH HAS BEEN GRADED XF-SUPERB 95 BY P.S.E. -- THIS IS THE HIGHEST GRADE AWARDED.
With 2000 P.F. and 2005 P.S.E. certificates (OGph, XF-Superb 95; SMQ $8,150.00). This is the highest grade awarded and only two others share it. The highest grade awarded to a Mint N.H. example is a 90.
$5.00 Dark Green (263). Original gum, lightly hinged, deep rich color and proof-like impression on post-office fresh paper, perfectly centered with wide marginsEXTREMELY FINE FINE GEM. THIS STUNNING ORIGINAL-GUM EXAMPLE OF THE 1894 $5.00 UNWATERMARKED BUREAU ISSUE HAS BEEN GRADED GEM 100 BY P.S.E. -- THIS IS THE HIGHEST GRADE AWARDED AND THE ONLY EXAMPLE TO ACHIEVE IT.
The 1894 Unwatermarked issue was the first U.S. postage issue to be printed by the Bureau of Engraving & Printing, after the contract with American Bank Note Co. expired. The first stamps printed by the Bureau are notoriously difficult to find well-centered, as production was marred by initial problems as they geared up to meet the needs of the public for stamps. The designs through the $1.00 repeated the 1890 ABN Co. issue, with the addition of corner triangles to distinguish the printings. The use of the same designs is another indication of the time pressure that may have caused some of the initial production problems. Perhaps the two most difficult denominations to find in superb condition are the $1.00 Type II (Scott 261A), and the $5.00.
With 2009 P.S.E. certificate (OGph, Gem 100; unpriced above the grade of 98, SMQ $20,900.00 as 98). This is the highest grade awarded and no others share it. Collectors waiting for a Mint N.H. example in higher grades will have a very long wait -- the highest grade awarded thus far to a Mint N.H. copy is 80.