Sale 1027 — The Natalee Grace Collection of Used U.S. Stamps, Part Two: 1869 to Pan-American Issues
Sale Date — Wednesday, 19 September, 2012
Category — 1894 Unwatermarked Bureau Issue (Scott 246-263)
$1.00 Black (261). Perfectly centered with Jumbo margins, intense shade and proof-like impression on bright paper, neat strike of oval registry cancelEXTREMELY FINE GEM. THIS PHENOMENAL STAMP HAS BEEN AWARDED THE GRADE OF SUPERB 98 JUMBO BY P.S.E. -- THIS IS THE HIGHEST GRADE AWARDED TO DATE AND THE ONLY EXAMPLE TO ACHIEVE THIS GRADE. TRULY STUNNING IN EVERY RESPECT.
The $1.00 Type I, which is defined as having an incomplete circle around the left "$1", occurred on 150 of the 200 subjects of Plate 76. However, the $1.00 unwatermarked stamps are notorious for having small margins. To date only one has graded 95 and two have graded 98. A comparison to one of the 98's, offered in our Sale 946 (lot 739), demonstrates the significant difference in margin size. Far fewer of the unwatermarked stamps were issued compared to its watermarked counterpart -- 26,284 of Scott 261 were issued compared to 192,449 of the watermarked Scott 276. They were mostly used on parcels or other oversize or heavy mailings. The stamps on these mailings tend to be damaged from use or were discarded, resulting in a small population of sound used stamps. Linn's Stamp Facts estimates less than ten covers are known.
With 1999 P.F. and 2009 P.S.E. certificates (Superb 98 Jumbo; unpriced in SMQ above the grade of 98, SMQ $8,400.00 as 98). This is the highest grade awarded to date and the only example to achieve this grade.
