$1.00 Violet Black (478). Mint N.H., perfect centering with wide and well-balanced margins, intense color and impression on bright paper

EXTREMELY FINE GEM. A SUPERB EXAMPLE OF THE $1.00 PERF 10 UNWATERMARKED FRANKLIN ISSUE IN THE FINEST CONDITION ATTAINABLE.

This stamp was used for less than six months before the Perf 11 stamps were produced. Due to its short production run and the only difference between this and the previous $1.00 issue (Scott 460) being the watermark, many collectors and dealers of the day overlooked this issue. It is especially scarce with such perfect centering.

Ex "Silver Lake". With 1994 and 2004 P.F. certificates. With 2005 and 2020 P.S.E. certificates (XF-Superb 95; SMQ $5,750.00). Only two grade higher (both 98).

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