1c Green, Rotary, Perf 11 (594). Intense shade and impression, wavy-line machine cancel leaves entire design clearly visible, unusually choice centering for this difficult rotary press issue

EXTREMELY FINE. ONLY A FEW SOUND AND CENTERED EXAMPLES OF THE 1923 ONE-CENT ROTARY PERF 11 ISSUE EXIST. THIS IS WITHOUT QUESTION ONE OF THE FINEST IN EXISTENCE. A PHENOMENAL CONDITION RARITY.

Like the 2c, Scott 595, this issue was perforated in both directions on the flat plate perforating machine. This machine was not designed to perforate rotary press stamps, which are slightly different in size due to the curvature of the printing plate. This caused notoriously poor perforations. The existence of Scott 594 was not reported until four months after the final sheets were delivered, and the 1c Rotary Perf 11 was soon recognized as one of the rarest United States stamps.

Our exhaustive census of Scott 594, available at our website at: http://www.siegelauctions.com/dynamic/census/594/594.pdf , contains 89 used singles, four used pairs and five covers (including one with a pair) for a total of 103 used stamps. Many have perforations either in on one or more side, or have faults.

Census No. 594-CAN-52. Ex Scarsdale. With 1950, 1994 and 2004 P.F. and 2006 P.S.E. certificates (VF-XF 85; SMQ $53,600.00). We were very surprised this only graded an 85 at P.S.E., which prompted us to compile our census of this issue. We failed to find a better copy -- none has graded higher to date. For some reason SMQ provides a $96,000.00 value for this issue in the grade of 90, which is misleading since none exists. We believe the 90 price should apply to the example offered here, based on its realization in the Scarsdale sale.

Scott Catalogue notes "both unused and used are valued with perforations just touching frameline on one side"

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