5c Indian Red (28A). Large part original gum, beautiful color in the true Indian Red shade, exceptional centering for this difficult issue with perforations completely clear of outer projections of the design on all sides, detailed impression clearly showing the lathework background, small corner crease at bottom right and corner crease at top right

EXTREMELY FINE APPEARANCE. A RARE ORIGINAL-GUM EXAMPLE OF THE 1857 5-CENT INDIAN RED ISSUE, WHICH RECENTLY CAME TO LIGHT AND IS OFFERED TO THE MARKET FOR THE FIRST TIME. THIS IS ONE OF THE RAREST ORIGINAL-GUM STAMPS IN UNITED STATES PHILATELY -- ONLY FIVE INDIAN RED STAMPS WITH ANY AMOUNT OF GUM ARE CONTAINED IN OUR RECORDS.

Our search of old auction catalogues and the records of The Philatelic Foundation and P.S.E. yielded only eleven unused examples of Scott 28A including this recently certified stamp. Of these, only five have been described as having any gum whatsoever. These are: 1) the stamp offered in the Whitman sale (Siegel Sale 968, lot 37, realized $130,000 hammer), previously in the 1941 C. A. Brown sale by Harmer, Rooke & Co. where described as "full original gum", also ex 1968 Rarities sale and A. T. Seymour Collection (Siegel Sale 373, Apr. 23, 1970, lot 35) where described as "large part original gum" and 2005 Rarities sale (lot 102, realized $75,000 hammer); 2) the "Ambassador" copy (Siegel Sale 300, Apr. 27, 1966, lot 45A), described as part original gum, also ex Argentum (Siegel Sale 807, Feb. 23, 1999, lot 76) where described as "unused (traces of gum)"; 3) the Caspary/Lilly copy, described in both catalogues as full original gum and with light horizontal crease, offered in our auction of the Hoffman Collection (Siegel Sale 956, lot 35, realized $180,000 hammer); 4) part original gum, light diagonal crease and two small corner creases, ex Geisler and "Laila" (Siegel Sale 972, lot 3039, realized $110,000 hammer); and 5) the example offered here, newly discovered and certified, offered to the market for the first time.

Census No. 28A-OG-05. With 2009 P.S.E. certificate (POG Fine 70; unpriced in SMQ with original gum above the grade of 50, SMQ $200,000.00 as 50). The grade of Fine 70 indicates that this should grade 90 for centering, based on the P.S.E.'s prescribed deductions for faults. Only one other has been graded to date (at 30)

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