Price of US Stamp Scott Catalog # 523 – 1918 US$2.00 Benjamin Franklin Perf 11. Page 9

$2.00 Orange Red & Black (523). Exceptional centering with Jumbo margins, deep rich colors, unobtrusive strike of oval registry cancel EXTREMELY FINE GEM. A SUPERB USED EXAMPLE OF THE $2.00 ORANGE RED & BLACK 1918 FRANKLIN ISSUE. The $2.00 and $5.00 1918 Issue are the first bi-colored dollar-denominated postage stamps issued by the United States. Both were released just three months after the famous 1918 24c Inverted Jenny, but the early printings were issued in small quantities, since stocks of the earlier $2.00 and $5.00 issues (Scott 479 and 480) were still on hand. According to Johl, the $2.00 Orange Red & Black was a color error on the part of the Bureau of Engraving & Printing. The official description and order for the bi-color stamps specified “Red and Black” for the $2.00. When subsequent printings appeared in 1920 and philatelists brought the matter to the attention of the Bureau, they were told “this stamp has always been this color” (Johl, p. 306). From studies of Bureau and Post Office records, it is clear that the originally-intended color was not issued until November 1920 (Scott 547), and that the earlier Orange Red stamps were mistakes. With 2005 P.F. and 2004 P.S.E. certificates (Superb 98, SMQ $1,700.00). Only one has graded higher (at 98J) and this is the only example to achieve this grade

Robert Siegel Auction Galleries, Oct 2012, Sale 1032, Lot 3608

U.S.; General Issues, 1918, $2 orange red & black, #523. O.g. (h.r.), Fine. Scott $550. Estimate $150.

Harmer-Schau Auction Galleries, Oct 2012, Sale 95, Lot 257

1918, $2 orange red & black (Scott 523), wonderfully fresh and well centered example with nice big margins, a gorgeous stamp, o.g., never hinged, Very Fine, with photocopy of 2000 P.S.E. certificate for block of 4, from which this stamp was taken, this being the top left stamp from the block. Scott $1,150. Estimate value $750 – 1,000.

Daniel Kelleher Auctions, Oct 2012, Sale 632, Lot 1395

$2.00 Orange Red & Black (523). Deep rich colors and detailed impressions, bright paper, phenomenal centering with Jumbo margins, unobtrusive strike of oval registry cancel EXTREMELY FINE GEM. A SUPERB USED EXAMPLE OF THE $2.00 ORANGE RED & BLACK 1918 FRANKLIN ISSUE. THIS MAY WELL BE THE FINEST IN EXISTENCE — IT HAS BEEN AWARDED THE GRADE OF SUPERB 98 JUMBO BY P.S.E., WHICH IS THE HIGHEST GRADE AWARDED TO DATE. IT IS THE ONLY EXAMPLE TO ACHIEVE THIS GRADE. The $2.00 and $5.00 1918 Issue are the first bi-colored dollar-denominated postage stamps issued by the United States. Both were released just three months after the famous 1918 24c Inverted Jenny, but the early printings were issued in small quantities, since stocks of the earlier $2.00 and $5.00 issues (Scott 479 and 480) were still on hand. According to Johl, the $2.00 Orange Red & Black was a color error on the part of the Bureau of Engraving & Printing. The official description and order for the bi-color stamps specified “Red and Black” for the $2.00. When subsequent printings appeared in 1920 and philatelists brought the matter to the attention of the Bureau, they were told “this stamp has always been this color” (Johl, p. 306). From studies of Bureau and Post Office records, it is clear that the originally-intended color was not issued until November 1920 (Scott 547), and that the earlier Orange Red stamps were mistakes. With 1995 P.F. and 2009 P.S.E. certificates (Superb 98 Jumbo, unpriced in SMQ above the grade of 98, SMQ price $1,700.00 as 98). This is the highest grade awarded to date and the only example to achieve this grade.

Robert Siegel Auction Galleries, Sep 2012, Sale 1028, Lot 442

1918, $2 orange red & black (523), exceptionally well centered with enormous margins, brilliant color and immaculate, never hinged original gum; a choice, Extremely Fine to Superb Jumbo. SMQ price $3,300 for a normal 95. Scott $1,200 AN EXTRAORDINARY EXAMPLE OF THIS KEY WASHINGTON-FRANKLIN HIGH VALUE. Expertization: 2004 PSE and 2005 PF Certificates, the former graded XF-Sup 95J.

Matthew Bennett International, Sep 2012, Sale 345, Lot 370

1918, $2 orange red & black (523), top margin arrow and plate no. block of eight, exceptionally well centered with rich color, solid perforations and never hinged original gum; fresh and choice, Extremely Fine. Scott price $18,000 ONLY A SMALL NUMBER OF #523 PLATE BLOCKS HAVE SURVIVED IN NEVER HINGED CONDITION; IN FACT, THIS IS THE ONLY NH EXAMPLE CERTIFIED BY THE P.F.—WITH ITS CHOICE CENTERING AND PRISTINE ORIGINAL GUM, THIS MAY WELL BE THE FINEST 1918 $2 PLATE BLOCK IN EXISTENCE. Expertization: 2007 PF Certificate.

Matthew Bennett International, Sep 2012, Sale 345, Lot 371

1918, $2 orange red & black (Scott 523), o.g., never hinged, immaculate mint example with dazzling colors, very pleasing, Very Fine. Scott $1,150. Estimate $600 – 800.

Daniel Kelleher Auctions, Aug 2012, Sale 631, Lot 1265

1918, $2 orange red & black (Scott 523), top margin plate number single, o.g., never hinged, extremely elusive example with large margins and beautiful rich color, an elusive plate position piece, Fine to Very Fine. Scott $1,150. Estimate value $500 – 750.

Daniel Kelleher Auctions, Aug 2012, Sale 631, Lot 1266

1918, $2 orange red & black (Scott 523), o.g., never hinged, bright radiant colors; reperforated, otherwise fresh and Very Fine. Scott $1,200. Estimate $300 – 400.

Daniel Kelleher Auctions, Aug 2012, Sale 631, Lot 1267

1918, $2 orange red & black (Scott 523), o.g., very lightly hinged, attractive stamp with brilliant fresh colors, Very Fine. Scott $525. Estimate $250 – 350.

Daniel Kelleher Auctions, Aug 2012, Sale 631, Lot 1268

U.S.; General Issues, 1918, $2 Orange Red & Black, #523. Very l.h., Very Fine, PSE (2010) cert. Scott $550. Estimate $300-350.

Harmer-Schau Auction Galleries, Aug 2012, Sale 94, Lot 1615

U.S.; General Issues, 1918, $2 Orange Red & Black, #523. L.h., large copy, Very Fine. Scott $550. Estimate value $250-300.

Harmer-Schau Auction Galleries, Aug 2012, Sale 94, Lot 1616

U.S.; General Issues, 1918, $2 Orange Red & Black, Top Arrow Block of 4, #523. N.h., bottom right copy inclusion reverse only, Very Fine overall. Scott $4,800. Estimate price $1,250-1,350.

Harmer-Schau Auction Galleries, Aug 2012, Sale 94, Lot 1617

1918, $2 orange red & black (Scott 523), gorgeous top margin plate no. 8177 single, beautiful large margined example with vibrant rich shade, o.g., never hinged, Extremely Fine, 1981 P.F. certificate. Scott $1,150. Estimate price $1,000 – 1,500. (Image 1)

Daniel Kelleher Auctions, Jun 2012, Sale 630, Lot 1884

1918, $2 orange red & black (Scott 523), very fresh with vibrant color and huge margins, a very choice, eye catching stamp, o.g., lightly hinged, Extremely Fine. Scott $550. Estimate value $500 – 750. (Image 1)

Daniel Kelleher Auctions, Jun 2012, Sale 630, Lot 1885