Sale 1028 — The Natalee Grace Collection of Used U.S. Stamps, Part Three: 1902 and Later Issues
Sale Date — Thursday, 20 September, 2012
Category — 1917 Perf 11 Single-Line Watermark Issue, 1918-20 Issues (Scott 519-524)
2c Carmine (519). Rich color and detailed impression on bright paper, unusually choice centering with wide and balanced margins, neat strike of "Times Square N.Y." oval registry cancelEXTREMELY FINE GEM. A SUPERB USED EXAMPLE OF THE 2-CENT PERF 11 DOUBLE-LINE WATERMARK ISSUE, SCOTT 519, IN THE FINEST CONDITION ATTAINABLE. THIS IS WITHOUT QUESTION THE FINEST WE HAVE EVER ENCOUNTERED. THIS WONDERFUL STAMP HAS BEEN GRADED XF-SUPERB 95 BY P.S.E., WHICH IS THE HIGHEST GRADE AWARDED TO DATE. IT IS THE ONLY EXAMPLE TO ACHIEVE THIS GRADE.
The Johl book quotes Joseph B. Leavy, the Government Philatelist, who described how this issue came about: "In September 1910 the Postmaster of St. Louis transferred to the Postmaster of New York City the following imperforate postage stamps in sheets of 400 -- 120 sheets of the 1c -- 1,500 sheets of the 2c. They had been specially made with uniform margins [sic imperforate] for use by the United States Automatic Vending Machine Company, which company had moved to New York at that time. It seems that this firm had gone out of business for in 1917 the Postmaster in New York reported having on hand 1,467 sheets of the 2c imperforate, Series of 1908, and could find no record of the U.S. Automatic Vending Company, and asked that he be allowed to return them for credit. This being a period of conservation, the Bureau notified him to return them for perforation. They were perforated in September 1917, (four months after the last wheels of the perforating machines had been changed to gauge 11). In perforating them 34 sheets had been spoiled and were returned to the Bureau for redemption and destruction, leaving a total of 1,433 sheets of 400 or 573,200 stamps perforated 11, which were placed on sale in New York City." Johl further notes these were sold in the regular course of business and by the end of October had been distributed to post offices around New York. The majority was used for postage and destroyed before philatelists knew of the issue's existence.
The example offered here, with a clear New York cancel and in superb condition, is a phenomenal rarity. The next-highest grade for a used copy is an 80.
With 1996 and 2009 P.S.E. certificates (XF-Superb 95; SMQ $5,500.00). This is the highest grade awarded to date and the only example to achieve this grade. As another indication of rarity, only seven used copies have been graded, and the next-highest grade is an 80.
