$500.00 Red Orange, Green & Black, Second Issue, "Large Persian Rug" (R133). Well-centered with sheet margins with full imprints at sides and original gum, deep rich colors and sharp proof-like impressions, two manuscript "X" cancels thru both denominations and neat "E.C. July 7, 1872" (Erastus Corning) manuscript cancel on vignette, small ink spot on gum in left margin barely shows thru

EXTREMELY FINE. ONE OF FOUR REPORTED $500.00 "LARGE PERSIAN RUG" STAMPS WITH SHEET MARGINS AND IMPRINTS.

Only 210 were issued, and it is safe to say that most examples are faulty to some degree. A document exists from July 24, 1874, detailing the purchaser of each. The Kingsley census records 76 copies, and a handful are known outside of the census.

The initials "E.C." on this stamp belong to Erastus Corning, from whose estate both of the Large and Small "Persian Rug" imprint examples originate. The $200.00 Small Persian Rug was sold in our Zoellner Revenue sale (Sep. 2000), where it realized $32,500 with a Scott Retail value of $5,000. According to Thomas Kingsley, the stamps were purchased by Mr. Corning's estate to pay the tax on his will, but the stamps were never attached to the will (this is why they retain their original gum).

Illustrated in Kingsley book (Census No. 1-1). Ex Drucker. With 2002 P.F. certificate. Scott Retail is for a "very fine appearing example with a light circular cut cancel or with minor flaws".

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