$2.00 Orange Red & Black (523). Top plate nos. 8179/8177 and arrow block of eight, lightly hinged in selvage only, rich colors, unusually choice centering, two staple holes in selvage as usual, few natural gum skips

EXTREMELY FINE. A PHENOMENAL SOUND PLATE BLOCK OF THE 1918 $2.00 ORANGE RED & BLACK. ONLY A HANDFUL OF PLATE BLOCKS EXIST.

The $2.00 and $5.00 1918 Issue are the first bi-colored dollar-denominated postage stamps issued by the United States. Both were released just three months after the famous 1918 24c Inverted Jenny, but the early printings were issued in small quantities, since stocks of the earlier $2.00 and $5.00 issues were still on hand.

According to Johl, the $2.00 Orange Red & Black was a color error on the part of the Bureau of Engraving & Printing. The official description and order for the bi-color stamps specified "Red and Black" for the $2.00. When subsequent printings appeared in 1920 and philatelists brought the matter to the attention of the Bureau, they were told "this stamp has always been this color" (Johl, p. 306). From studies of Bureau and Post Office records, it is clear that the originally-intended color was not issued until November 1920 (Scott 547), and that the earlier Orange Red stamps were mistakes. The quantity issued has been variously estimated at between 47,000 and 68,000.

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