$1.00 Violet Black (478). Mint N.H., deep rich color and proof-like impression which shows every minute detail of the design, magnificent centering with wide and balanced margins

EXTREMELY FINE GEM. WITHOUT QUESTION THIS IS ONE OF THE FINEST MINT NEVER-HINGED EXAMPLES OF THE $1.00 PERF 10 UNWATERMARKED FRANKLIN ISSUE. THIS SPECIAL STAMP HAS BEEN GRADED SUPERB 98 BY P.S.E. -- THIS IS THE HIGHEST GRADE AWARDED TO DATE AND THIS IS ALSO THE ONLY EXAMPLE TO ACHIEVE THIS GRADE.

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.

With 1987 P.F. and 2007 P.S.E. certificates (Superb 98; SMQ $27,000.00). This is the highest grade awarded to date and the only example to achieve this grade. A comparison with other dollar-value Franklins also confirms that this is one of the scarcest to obtain in such a high grade. Scott 423 equals this one, with only one in the P.S.E. Population Report report. Scott 460 has five graded at 98, and Scott 518 is the easiest to obtain in high grades.

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