Value of US Stamp Scott Cat. 261 – US$1.00 1894 Perry Bureau. Page 4

1894, $1 black, type I (Scott 261), o.g., lightly hinged, the quintessential example of this difficult stamp, virtually perfectly centered with beautifully balanced margins, Jet-Black color on lily white paper, they just don’t come much better than this and a highlight of the Weston collection, Extremely Fine, 1986 P.F. certificate. Scott $1,000. Estimate $750 – 1,000.

Daniel Kelleher Auctions, Feb 2013, Sale 634, Lot 177

1894, $1 black, type I (Scott 261), o.g., hinge remnant, extremely handsome large margined stamp, intense Jet-Black shade, Very Fine. Scott $1,000. Estimate value $400 – 600.

Daniel Kelleher Auctions, Dec 2012, Sale 633, Lot 474

$1.00 Black (Scott 261). Intense shade and detailed impression on bright paper, unusually wide margins, Extremely Fine, a huge stamp, ex Collier, with 1997 P.F. certificate

Robert Siegel Auction Galleries, Dec 2012, Sale 1037, Lot 1876

$1.00 Black (Scott 261). Original gum, lightly hinged, perfectly centered with enormous margins on all sides, intense shade and sharp proof-like impression EXTREMELY FINE GEM. THIS MASSIVE ORIGINAL-GUM EXAMPLE OF THE $1.00 TYPE I UNWATERMARKED BUREAU ISSUE HAS BEEN GRADED SUPERB 98 JUMBO BY P.S.E, THE HIGHEST GRADE AWARDED. With 2011 P.S.E. certificate (OGph, Superb 98 Jumbo, unpriced in SMQ above the grade of 98, SMQ $6,200.00 as 98). This is the highest grade awarded (for Mint N.H. one copy shares it and one Mint N.H. has graded 100)

Robert Siegel Auction Galleries, Nov 2012, Sale 1034, Lot 241

$1.00 Black (Scott 261). Original gum, lightly hinged, perfectly centered with massive margins all around, intense shade and detailed impression EXTREMELY FINE GEM. A MAGNIFICENT ORIGINAL-GUM EXAMPLE OF THE $1.00 TYPE I UNWATERMARKED BUREAU ISSUE. A STAMP OF TRULY MASSIVE PROPORTIONS. P.S.E. encapsulated (OGph, XF-Superb 95 Jumbo, SMQ price $3,200.00 as 95, $6,200.00 as 98). Only two have graded higher and only four others share this grade.

Robert Siegel Auction Galleries, Nov 2012, Sale 1034, Lot 242

$1.00 Black (Scott 261). Mint N.H., detailed impression on bright paper, fresh and Fine, with 1988 P.F. certificate

Robert Siegel Auction Galleries, Oct 2012, Sale 1033, Lot 4149

$1.00 Black (261). Uncharacteristically wide margins for this issue and perfectly centered, very light cancel, bright and fresh EXTREMELY FINE GEM. A NOTEWORTHY USED STAMP, AS THE 1894 FIRST BUREAU ISSUE $1.00 STAMPS ARE NOTORIOUS FOR HAVING SMALL MARGINS AND POOR CENTERING, AS WELL AS HEAVY CANCELS. THIS REMARKABLE EXCEPTION TO THE RULE HAS BEEN GRADED SUPERB 98 BY P.S.E. The $1.00 Type I, which is defined as having an incomplete circle around the left “$1”, occurred on 150 of the 200 subjects of Plate 76. However, the $1.00 unwatermarked stamps are notorious for having small margins. To date there are no stamps graded 100, only one has graded 98J, the example offered in the Natalee Grace collection (Sale 1027, lot 138), though it also has a heavier cancel. Only this example along with one other have graded 98. Far fewer of the unwatermarked stamps were issued compared to its watermarked counterpart — 26,284 of Scott 261 were issued compared to 192,449 of the watermarked Scott 276. They were mostly used on parcels or other oversize or heavy mailings. The stamps on these mailings tend to be damaged from use or were discarded, resulting in a small population of sound used stamps. With 2011 P.F. and 2007 P.S.E. certificates (Superb 98, SMQ price $8,400.00).

Robert Siegel Auction Galleries, Oct 2012, Sale 1032, Lot 3375

$1.00 Black (261). Perfectly centered with Jumbo margins, intense shade and proof-like impression on bright paper, neat strike of oval registry cancel EXTREMELY FINE GEM. THIS PHENOMENAL STAMP HAS BEEN AWARDED THE GRADE OF SUPERB 98 JUMBO BY P.S.E. — THIS IS THE HIGHEST GRADE AWARDED TO DATE AND THE ONLY EXAMPLE TO ACHIEVE THIS GRADE. TRULY STUNNING IN EVERY RESPECT. The $1.00 Type I, which is defined as having an incomplete circle around the left “$1”, occurred on 150 of the 200 subjects of Plate 76. However, the $1.00 unwatermarked stamps are notorious for having small margins. To date only one has graded 95 and two have graded 98. A comparison to one of the 98’s, offered in our Sale 946 (lot 739), demonstrates the significant difference in margin size. Far fewer of the unwatermarked stamps were issued compared to its watermarked counterpart — 26,284 of Scott 261 were issued compared to 192,449 of the watermarked Scott 276. They were mostly used on parcels or other oversize or heavy mailings. The stamps on these mailings tend to be damaged from use or were discarded, resulting in a small population of sound used stamps. Linn’s Stamp Facts estimates less than ten covers are known. With 1999 P.F. and 2009 P.S.E. certificates (Superb 98 Jumbo, unpriced in SMQ above the grade of 98, SMQ $8,400.00 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 1027, Lot 138

1894, $1 black, type I (261), essentially perfectly centered with exceptionally wide margins, deep, dark color on bright paper and full, lightly hinged original gum; a fresh and choice Extremely Fine to Superb Gem. SSV $3,000. Scott price $1,000 A TRULY EXTRAORDINARY EXAMPLE OF THE UNWATERMARKED TYPE I $1 PERRY. Expertization: 1992 & 2006 PF Certificates, the latter graded XF-S 95. Provenance: Floyd, Mann.

Matthew Bennett International, Sep 2012, Sale 345, Lot 276

o U.S.; General Issues, 1894, $1 Black, Type I, #261. Used, Very Fine, PF (1982) cert. Scott $375. Estimate $150-180.

Harmer-Schau Auction Galleries, Aug 2012, Sale 94, Lot 1370

1894, $1 black, type I (Scott 261), large margins, slightly disturbed o.g., Very Fine for this, 2012 PF certificate. Scott $1,000. Estimate $400 – 600. (Image 1)

Daniel Kelleher Auctions, Jun 2012, Sale 630, Lot 1596

1894, $1 black, type I (Scott 261), o.g., previously hinged, handsome large margined example with impressive deep color; two gummed over thins and natural wrinkle, otherwise Fine to Very Fine, 2012 PSE certificate. Scott $1,000 Estimate value $200 – 300.

Daniel Kelleher Auctions, Apr 2012, Sale 629, Lot 256

1894, $1 black, type I (261), wonderfully fresh with prooflike impression, original gum, hinge remnant, Fine. Scott $1,000 Expertization: 1980 PF Certificate.

Matthew Bennett International, Mar 2012, Sale 344, Lot 4445

$1.00 Black (Scott 261). Original gum, wide margins and exceptionally well-centered, beautiful impression and deep shade on bright white paper EXTREMELY FINE GEM. A SUPEB ORIGINAL-GUM EXAMPLE OF THE ONE-DOLLAR TYPE I 1894 FIRST BUREAU ISSUE. With 2006 P.F. certificate (XF-Superb 95) and 2007 P.S.E. certificate (XF-Superb 95, SMQ price $3,200.00)

Robert Siegel Auction Galleries, Mar 2012, Sale 1019, Lot 587

U.S.; General Issues, 1894, $1 Black, Type I, #261. O.g., “reperfed at top and tiny thin”, well centered, Very Fine appearance, PSAG (2011) cert. Scott $1,000. Estimate price $150-200.

Harmer-Schau Auction Galleries, Feb 2012, Sale 92, Lot 1023