5c Red Brown (1). Position 10L with enormous top right corner sheet margins, huge margins at left and bottom including part of adjoining stamp at bottom, rich color (P.F. classified shade as Orange Brown), neat strikes of blue grid and part of circular datestamp cancels

EXTREMELY FINE GEM. THIS SPECTACULAR USED CORNER-MARGIN COPY OF THE 5-CENT 1847 ISSUE HAS BEEN GRADED GEM 100 JUMBO BY P.S.E. WITHOUT QUESTION THIS IS ONE OF THE FINEST USED EXAMPLES OF THE FIRST UNITED STATES POSTAGE STAMP.

The Act of March 3, 1847, signed by President Polk, specified that Postmaster General Cave Johnson "be authorized to prepare postage stamps, which when attached to any letter or packet, shall be evidence of the payment of the postage..." The law's effective date was July 1, and the Post Office acted immediately to secure a contract with Rawdon, Wright, Hatch and (the new partner) Edson, so that stamps could be distributed by that date. The Franklin vignette is reported to have been based on a portrait by John B. Longacre, and it also closely resembles a painting by Joseph S. Duplessis.

With 1992 P.F. certificate as Orange Brown. With 2007 P.S.E. certificate (Gem 100 Jumbo; unpriced in SMQ above the grade of 98, $3,500.00 SMQ value for a 98 grade has little relevance to this stamp). This is the only example to achieve this ultimate grade in the P.S.E. Population Report. The next highest grade for a used 5c 1847 in any shade is 98J.

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