Adams & Co.'s Express, Cal., 25c Black, "Rate 25c Per 1-2 Oz.", Black Overprint (1L5). Unused (no gum), "LR" (L. Reed) initials, large margins

EXTREMELY FINE. AN EXCEEDINGLY RARE SOUND EXAMPLE OF THE ADAMS & CO.'S EXPRESS STAMP WITH BLACK OVERPRINT.

Ex Boker and Golden (Siegel Sale 817, lot 433, realized $2,600 hammer). The Hall Collection contained an example with a fault; other than these two we have not offered another since keeping computerized records.

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