1c Panama-Pacific, Perf 10 (401). Mint N.H., deep rich color on bright paper, perfectly centered with wide margins

EXTREMELY FINE GEM. THIS GORGEOUS STAMP IS GRADED GEM 100 BY P.S.E. -- THE HIGHEST GRADE AWARDED AND THE ONLY EXAMPLE TO ACHIEVE IT.

Ex "Hanover". With 2012 P.S.E. certificate (Gem 100; SMQ $1,350.00 is hopelessly low). This is the highest grade awarded and the only example to achieve this grade. The SMQ value is absurdly low -- a mere $400 more than a 98, of which there are 13 recorded examples. The last two times this was sold it brought $6,250 and $5,000 hammer.

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