Sale 1202 — The James Depew Collection of Superb U.S. Coils and 20th Century Imperforate Issues
Sale Date — Wednesday, 22 May, 2019
Category — 1910-11 Perf 12 Horizontal Coils, Single-Line Watermark (Scott 387-389)
2c Carmine, Coil (388). Mint N.H., brilliant color as fresh as the day it was printed, perfectly centered with wide margins on all sidesEXTREMELY FINE GEM. AN ASTONISHING MINT NEVER-HINGED EXAMPLE OF THE RARE 1910 2-CENT HORIZONTAL COIL, SCOTT 388. THIS STAMP IS GRADED SUPERB 98 BY P.S.E.
This 2c coil was in production for only a short period of time before being superseded by the Perf 8-1/2 issue. Due to the greater popularity of the horizontal coils with users, combined with a wary attitude by many collectors that early coils were simply trimmed stamps, many were used and few preserved.
Of the Scott 388 stamps listed in the P.S.E. Population Report, only three Mint N.H. examples grade above 70. There is one 95 (ex "Alan"), this 98 (ex Merlin) and one 98J (ex Merlin).
With 2003 P.F. and 2007 P.S.E. certificates (Superb 98; SMQ $32,500.00). This is the only example to achieve this grade and only one has graded higher (at 98J)
