Costs of US Stamps Scott Cat. # 263: 1894 US$5.00 John Marshall Bureau. Page 7

$5.00 Dark Green (263). Original gum, lightly hinged, deep rich color and proof-like impression on post-office fresh paper, perfectly centered with wide margins EXTREMELY FINE GEM. THIS STUNNING ORIGINAL-GUM EXAMPLE OF THE 1894 $5.00 UNWATERMARKED BUREAU ISSUE HAS BEEN GRADED SUPERB 98 BY P.S.E. The 1894 Unwatermarked issue was the first U.S. postage issue to be printed by the Bureau of Engraving & Printing, after the contract with American Bank Note Co. expired. The first stamps printed by the Bureau are notoriously difficult to find well-centered, as production was marred by initial problems as they geared up to meet the needs of the public for stamps. The designs through the $1.00 were kept the same from the 1890 ABN Co. issue, with the addition of corner triangles to distinguish the printings. The use of the same designs is another indication of the time pressure that may have caused some of the initial production problems. Perhaps the two most difficult denominations to find in superb condition are the $1.00 Type II (Scott 261A), and the $5.00. With 2009 P.S.E. certificate (OGph, Superb 98, SMQ $20,900.00). Only three others share this grade and only one has graded higher to date. Collectors waiting for a Mint N.H. example in higher grades will have a very long wait — the highest grade awarded thus far to a Mint N.H. copy is 80.

Robert Siegel Auction Galleries, Jun 2012, Sale 1025, Lot 195

United States 1894-95 Bureau Issues 1894 $5 dark green, well centered with wide margins, beautiful color, original gum, h.r., almost v.f., with 1990 and 2005 PFCs (the former stating “previously hinged”, the latter “slightly disturbed o.g.”)

Cherrystone Auctions, Apr 2012, Sale 201204, Lot 105

$5.00 Dark Green (Scott 263). Original gum, rich color and detailed impression, Fine

Robert Siegel Auction Galleries, Mar 2012, Sale 1021, Lot 463

$5.00 Dark Green (Scott 263). Block of four, original gum, h.r. where few perf separations sensibly reinforced, rich color, natural gum bends and creases FINE-VERY FINE. A RARE ORIGINAL-GUM BLOCK OF FOUR OF THE 1894 $5.00 UNWATERMARKED BUREAU ISSUE. Very few blocks remain intact, as most have been broken to feed collector demand for singles. We have offered only two others, both with similar centering, in over a decade.

Robert Siegel Auction Galleries, Mar 2012, Sale 1021, Lot 465

$5.00 Dark Green (Scott 263). Three wide margins, oval registry cancel, small tear at left, Very Fine appearance, with 2011 P.S.E. certificate (G 30)

Robert Siegel Auction Galleries, Mar 2012, Sale 1019, Lot 594

$5.00 Dark Green (263). Original gum, lightly hinged, most recent of four certificates notes “sweated”, gorgeous rich color and detailed impression, choice centering with wide and balanced margins EXTREMELY FINE. AN OUTSTANDING EXAMPLE OF THE 1894 $5.00 UNWATERMARKED FIRST BUREAU ISSUE. The 1894 Unwatermarked Issue was the first set of U.S. postage stamps to be printed by the Bureau of Engraving & Printing, after the contract with American Bank Note Co. expired. The first stamps printed by the Bureau are notoriously difficult to find well-centered, as production was marred by initial problems as they geared up to meet the needs of the public for stamps. Perhaps the two most difficult denominations to find in superb condition are the $1.00 Type II (Scott 261A), and the $5.00. With 1987, 1988 and 2007 P.F. certificates (XF 90). With 2007 P.S.E. certificate (XF 90, SMQ price $8,100.00). Only seven have graded higher to date in the P.S.E. Population Report

Robert Siegel Auction Galleries, Mar 2012, Sale 1019, Lot 593

1894, $5 dark green (263), absolutely perfectly centered with generous, beautifully balanced margins, vibrant color and full original gum; bright, fresh and truly Superb. SMQ price $20,900. Scott $4,500 THE $5 UNWATERMARKED IS MOST DIFFICULT TO LOCATE IN CHOICE MINT CONDITION AND THE PRESENT EXAMPLE WOULD BE VIRTUALLY IMPOSSIBLE TO IMPROVE UPON—IN FACT, PSE HAS JUDGED ONLY A SINGLE EXAMPLE SUPERIOR, WITH JUST THREE OTHERS DEEMED ITS EQUAL. Expertization: PSE encapsulated and graded Superb 98.

Matthew Bennett International, Feb 2012, Sale 340, Lot 346

U.S.; General Issues, 1894, $5 Dark Green, #263. Part o.g., Fine to Very Fine. Scott $4,500. Estimate $750-1,000.

Harmer-Schau Auction Galleries, Feb 2012, Sale 92, Lot 1030

() U.S.; General Issues, 1894, $5 Dark Green, #263, regummed, Fine to Very Fine, PF (1981) cert. Scott $2,000. Estimate price $600-700.

Harmer-Schau Auction Galleries, Feb 2012, Sale 92, Lot 1031

o U.S.; General Issues, 1894, $5 Dark Green, #263. Used, shallow thin at top, Extremely Fine appearance. Scott $2,750. Estimate value $400-500.

Harmer-Schau Auction Galleries, Feb 2012, Sale 92, Lot 1032

$5.00 Dark Green (263). Bottom imprint and plate no. 85 strip of three, side stamps Mint N.H., center stamp lightly hinged, deep rich color and proof-like impression and bright paper, few natural gum bends FINE. AN EXCEEDINGLY RARE IMPRINT AND PLATE NUMBER STRIP OF THREE OF THE $5.00 UNWATERMARKED BUREAU ISSUE, WITH TWO STAMPS IN MINT NEVER-HINGED CONDITION. THIS ISSUE IS NOT KNOWN AS A FULL PLATE BLOCK — AN IMPRINT AND PLATE NUMBER STRIP IS THE ONLY MULTIPLE TO COME CLOSE (ASIDE FROM A BLOCK OF FOUR WITH IMPRINT ONLY). The dollar values of the unwatermarked Bureau issues had the top selvage cut to accommodate the available perforating machine. Therefore, no top plate numbers exist for the dollar values in any form. We have offered only one other imprint and plate no. strip of three since keeping computerized records. Scott Retail as singles

Robert Siegel Auction Galleries, Dec 2011, Sale 1017, Lot 666

1894, $5 dark green (Scott 263), impressive bottom margin part imprint single, lovely example with extra large margins and prooflike color, as fresh as the day it was first printed, a premium quality example of this, the scarce unwatermarked $5 Marshall, o.g., lightly hinged, Very Fine. Scott $4,500.

Daniel Kelleher Auctions, Oct 2011, Sale 626, Lot 258

$5.00 Dark Green (Scott 263). Original gum, h.r., fresh, deep rich color, perfs clear, Fine

Robert Siegel Auction Galleries, Oct 2011, Sale 1014, Lot 1598

$5.00 Dark Green (Scott 263). Original gum, lightly hinged, deep rich color and proof-like impression, well-centered with nicely balanced margins EXTREMELY FINE. AN OUTSTANDING ORIGINAL-GUM EXAMPLE OF THE 1894 $5.00 UNWATERMARKED BUREAU ISSUE. With 2003 P.F. certificate

Robert Siegel Auction Galleries, Oct 2011, Sale 1014, Lot 1596

$5.00 Dark Green (Scott 263). Original gum, nicely centered with deep rich color, minute perf tip thin, otherwise Very Fine

Robert Siegel Auction Galleries, Oct 2011, Sale 1014, Lot 1599