2c Panama-Pacific, Perf 10 (402). Mint N.H., brilliant color on post-office fresh paper, perfectly centered with unusually wide margins

EXTREMELY FINE GEM. THIS STUNNING MINT NEVER-HINGED EXAMPLE OF THE 2-CENT PERF 10 PANAMA-PACIFIC ISSUE IS GRADED GEM 100 BY P.S.E. -- THIS IS THE HIGHEST GRADE AWARDED AND THE ONLY EXAMPLE TO ACHIEVE THIS DESIRABLE GRADE.

With 2010 P.S.E. certificate (Gem 100; SMQ $3,250.00). This is the highest grade awarded and it is the only example to achieve it. SMQ value is far too low, especially given the low population report numbers at higher grades. We sold the only example graded 98 Jumbo for $15,500 hammer in 2010, and the last example graded 98 we sold (population of five) brought more than the SMQ value of this 100.

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