Costs of US Stamp Scott Catalog 5 – 1851 1c Benjamin Franklin. Page 2

o 1851, 1¢ blue, type I (5), position 7R1E, fresh and bright with very large margins including bit of adjacent stamp visble at right, marvelous color, neat large Boston PAID grid and partial red Boston c.d.s. cancels; unobtrusive vertical crease at left ends in a small paper break at top; otherwise Extremely Fine and choice. Scott $75,000 A TRULY STUNNING ONE-CENT TYPE I AND ONE OF THE SMALL NUMBER OF TRUE FOUR MARGIN EXAMPLES OF POSITION 7R1E EXTANT, THE ONLY POSITION ON ANY OF THE ONE-CENT IMPERFORATE PLATES TO SHOW THE TRUE TYPE I WITH THE COMPLETE DESIGN AS IT EXISTED ON THE ORIGINAL DIE AND THIS LARGE MARGINED SINGLE SHOWCASES THE ALL IMPORTANT TYPE CHARACTERISTICS. Expertization: 2011 PF Certificate. Provenance: Meilstrup, Serota. This stamp was originally sold in 1965 as part of a strip of three, position 6-8R1E, on cover. It is Wagshal census number 5-CAN-009.

Matthew Bennett International, Feb 2012, Sale 340, Lot 52

1c Blue, Ty. I (5). Position 7R1E showing clear stitch watermark, large top and full right margins showing complete design, touched at left to slightly cut in at lower and bottom left, bottom right plume intact, bright early shade and impression, bold small Boston “Paid” cancel struck upside down, few faults incl. filled thin and small repaired scissors-cut at bottom left, P.F. certificate also mentions a hinge stain at top which is no longer evident FINE APPEARANCE. POSITION 7R1E — THE SEVENTH STAMP IN THE RIGHT PANE OF PLATE 1 EARLY — IS THE ONLY ONE OF THE 1,000 POSITIONS USED TO PRINT IMPERFORATE ONE-CENT STAMPS THAT SHOWS THE COMPLETE DESIGN (TYPE I). A GREAT RARITY. The published census compiled by Jerome S. Wagshal contains at least 98 unduplicated records of Scott 5. There are probably no more than ten examples existing outside of the Wagshal census population. Therefore, the 1c 1851 Type I is the rarest of all United States stamps issued regularly prior to the 1868 Grills. Wagshal Census No. 5-CAN-07. With 1990 P.F. certificate

Robert Siegel Auction Galleries, Oct 2011, Sale 1014, Lot 1035

o 1851, 1¢ blue, type I (5), position 7R1E, fresh and bright with very large margins including bit of adjacent stamp visble at right, marvelous color, neat large Boston PAID grid and partial red Boston c.d.s. cancels; unobtrusive pressed vertical crease along left side breaks paper; otherwise choice Extremely Fine. Scott $85,000 A TRULY STUNNING ONE-CENT TYPE I AND ONE OF THE SMALL NUMBER OF TRUE FOUR MARGIN EXAMPLES EXTANT OF POSITION 7R1E, THE ONLY POSITION ON ANY OF THE ONE-CENT IMPERFORATE PLATES TO SHOW THE TRUE TYPE I WITH THE COMPLETE DESIGN AS IT EXISTED ON THE ORIGINAL DIE. Provenance: Meilstrup. This stamp was originally sold in 1965 as part of a strip of three, position 6-8R1E, on cover. It is Wagshal census number 5-CAN-009.

Matthew Bennett International, Mar 2011, Sale 336, Lot 1109

1c Blue, Ty. I (5). Position 7R1E, beautiful rich Plate 1 Early color and sharp impression, full to large margins showing trace of Position 8R1E at right, only the tips of the upper left side ornaments are shaved (and barely so), lightly tied by blue “Philadelphia Pa. 1 Paid Feb. (1852)” integral-rate circular datestamp on blue folded First Annual Report of the United States Life Insurance, Annuity & Trust Company with beautiful two-tone illustration of building on inside, also printed on large portion of address panel, addressed to J. F. Van Nort in Newburgh N.Y., horizontal fold at top well clear of stamp, which is entirely sound EXTREMELY FINE. A RARE SOUND FOUR-MARGIN EXAMPLE OF POSITION 7 FROM THE RIGHT PANE OF PLATE ONE EARLY. POSITION 7R1E IS THE ONLY ONE AMONG THE 1,000 SUBJECTS ON THE PLATES THAT PRODUCED IMPERFORATE ONE-CENT STAMPS TO SHOW THE FULL DESIGN — TYPE I, SCOTT NUMBER 5 — AND ITS EXTREME RARITY IS GREATLY MULTIPLIED WHEN SOUND CONDITION BECOMES A FACTOR. THIS IS ONE OF THE FINEST EXAMPLES ON OR OFF COVER. The published census compiled by Jerome S. Wagshal (available from our website at http://siegelauctions.com/dynamic/census/5/5.pdf) contains at least 98 unduplicated records of Scott 5. There are probably no more than ten examples existing outside of the Wagshal census population. Therefore, the 1c 1851 Type I is the rarest of all United States stamps issued regularly prior to the 1868 Grills. Fewer than 20 covers still survive with Position 7R1E. Because of the significance attached to the outer portions of the 1c 1851 design, rare types that have been carefully cut apart, so as not to impinge on any part of the design, are extremely desirable. The narrow spacing between stamps in the sheet and the users’ indifference to the outlying ornamentation during separation are factors that contributed to the great rarity of four-margin examples. Time has also not been kind to the surviving population, as very few examples of Scott 5 are sound. The example offered here is not only sound, it is especially desirable because it shows the complete design all around, including the essential elements of Type I, the top and bottom ornamentation. Examples of Position 7R1E on cover present an even greater challenge to collectors who have strict condition standards. Most of the recorded covers with 7R1E have examples which are faulty and/or cut-into. Without question, the greatest 7R1E cover is the famous ex-Newbury cover with a strip of three, Positions 7-9R1E, cancelled in red (also ex Ishikawa and Boker, and now in an important West Coast collection). The runner-up, in terms of quality, is arguably the cover offered here, which once reposed in the Caspary collection and was acquired by Raymond Vogel more than 40 years ago. Wagshal Census No. 5-COV-074. Ex Caspary

Robert Siegel Auction Galleries, Dec 2010, Sale 998, Lot 1

1c Black, Large Die Trial Color Proof on Card (Scott 5TC1). Approximately 40 x 41mm card, sharp impression and bright fresh paper VERY FINE. ONE OF THREE REPORTED PROOF IMPRESSIONS FROM THE ONE-CENT 1851 ISSUE DIE (ONE IN BLUE). PROBABLY EXECUTED DURING THE PRODUCTION PHASE OF THE 1875 REPRINT AND DISTRIBUTED CIRCA 1910. This die impression shows the so-called cancellation dot in the oval at left, which was applied to the die in 1860 and reproduced on all subjects in Plates 11 and 12. It also shows two small dots below “C” of “Cents” and a strong horizontal layout line at upper left, which are not found on Plates 1 through 12, but are found on the 1875 Reprint plate, which led Neinken to opine that this impression and the few others like it were pulled from a die prepared for the 1875 Reprint (see Neinken, page 19). Further evidence of provenance is a pencil note on back “From J. E. Ralph. [signed] J. M. Bartels”. J. E. Ralph of the Bureau of Engraving and Printing is known to have distributed die proofs in 1910. Ex Neinken

Robert Siegel Auction Galleries, Sep 2010, Sale 994, Lot 602

1c Blue, Ty. I (5). Position 7R1E, bright shade from an early impression, large margins to just in at left, shows complete design at top and bottom, lightly cancelled VERY FINE. A RARE SOUND AND LIGHTLY-CANCELLED EXAMPLE OF POSITION 7 FROM THE RIGHT PANE OF PLATE ONE EARLY. POSITION 7R1E IS THE ONLY ONE AMONG THE 1,000 SUBJECTS ON THE PLATES THAT PRODUCED IMPERFORATE ONE-CENT STAMPS TO SHOW THE FULL DESIGN — TYPE I, SCOTT NUMBER 5 — AND ITS EXTREME RARITY IS GREATLY MULTIPLIED WHEN SOUND CONDITION BECOMES A FACTOR. The published census compiled by Jerome S. Wagshal (available at our website at http://siegelauctions. com/dynamic/census/5/5.pdf ) contains at least 98 unduplicated records of Scott 5. There are probably no more than ten examples existing outside of the Wagshal census population. Therefore, the 1c 1851 Type I is the rarest of all United States stamps issued regularly prior to the 1868 Grills. Because of the significance attached to the outer portions of the 1c 1851 design, rare types that have been carefully cut apart, so as not to impinge on any part of the design, are extremely desirable. The narrow spacing between stamps in the sheet and the users’ indifference to the outlying ornamentation during separation are factors that contributed to the great rarity of four-margin examples. Time has also not been kind to the surviving population, as very few are sound. In fact, there are only two sound four-margined copies in existence. The example offered here should be considered desirable because it is sound and also because it shows the complete outer part of the design at top and bottom, the essential elements of Type I. Wagshal Census No. 5-CAN-051. With 1977 P.F. certificate. An earlier 1973 P.F. certificate mentioned a “tiny corner crease.” The alleged corner crease was not detected by the P.F. in 1977 when they issued the new certificate, and in our opinion it never existed. A note from the P.F. in 1979 confirms their 1977 opinion. Ex Rinke and “Collection of a Country Gentleman” (Siegel Sale 422, Nov. 1972)

Robert Siegel Auction Galleries, Sep 2010, Sale 994, Lot 619

3c 1869 Pictorial Essays and Proofs. 32 items, incl. complete set of Atlanta Trial Colors, also 114-E4b, 116-E6b (Scott 5), 114-E6c (2), 114-E6d (11), range of colors, also some plate proofs, hybrid large-die proof, 114 forgery, mostly Fine-Very Fine

Robert Siegel Auction Galleries, Jun 2009, Sale 975, Lot 1021

1c Blue, Ty. I (Scott 5). Position 7R1E, bright shade, ample side margins but cut in at top and bottom, leaving the Type I characteristics to the imagination, lightly cancelled by blue town datestamp, sound THE IDEAL STAMP FOR THE COLLECTOR WHO NEEDS SCOTT 5 FOR COMPLETION BUT DOES NOT CARE TO SPEND A FORTUNE ON AN EXAMPLE WITH MARGINS ALL AROUND. Ashbrook pencil note on back “Plate One Ear(ly), 7R1E This Position Type I”. Wagshal Census No. 5-CAN-006. With 1975 P.F. certificate for strip of three.

Robert Siegel Auction Galleries, Oct 2008, Sale 963, Lot 84

1c Blue, Ty. I (5). L-shaped strip of three with Positions 6-7R joined with 16R1E below, the Type I (7R) has ample margins to just barely in at bottom right plume, Type Ib (6R) is slightly in at top, Type II (16R) has full margins, beautiful intense Plate 1 Early shade and sharp impression, tied by three strikes of small “Paid” grid in black, red “Boston Mass. 16 Aug.” (1851) circular datestamp on small cover to Georgetown D.C. with blue embossed flower design on backflap, the cover has been lightly cleaned VERY FINE. THIS IS THE ONLY RECORDED ONE-CENT 1851 ISSUE USED MULTIPLE WITH A COMBINATION OF TYPES I, Ib and II. IT IS ALSO THE ONLY 7R1E COVER WITH A “PAID” CANCEL. AN EXTREMELY ATTRACTIVE COVER AND OF THE GREATEST RARITY. Types I and Ib were located exclusively in the top row of the right pane of Plate 1 Early, so it is only possible to have a Type I-Ib combination in a horizontal multiple. The stamps in the second row below Types I and Ib were either Type II or IIIa. Therefore, to obtain a combination of Types I, Ib and II (or IIIa), it is necessary to have a block containing 7R1E, of which there is one known unused, or an L-shaped multiple, such as the strip offered here. This is the only used multiple in this configuration. According to the Wagshal census book, there are three examples of Scott 5 with the small “Paid” grid and four with the large “Paid” grid. Both cancels were used at Boston. Of the seven known, only the small grid strikes show the complete word “Paid.” This is the only complete cover with a “Paid” cancel of any kind. At the time the Wagshal book was published, there was some uncertainty about whether the strip had been left on this cover. At present there are 21 remaining covers with Scott 5, a number which is declining as stamps are removed to meet the demand for off-cover singles. Wagshal Census No. 5-COV-89. Ex Grunin, Hawley and Smith. With 1987 and 2002 P.F. certificates

Robert Siegel Auction Galleries, Oct 2008, Sale 963, Lot 85

1c Blue, Ty. I (5). Position 7R1E, full top margin showing complete design, clear to ample at sides and bottom just barely into plumes, bright early shade and impression, lightly cancelled by black grid, faint vertical crease at left VERY FINE APPEARANCE. POSITION 7R1E — THE SEVENTH STAMP IN THE RIGHT PANE OF PLATE 1 EARLY — IS THE ONLY ONE OF THE 1,000 POSITIONS USED TO PRINT IMPERFORATE ONE-CENT STAMPS THAT SHOWS THE COMPLETE DESIGN (TYPE I). A GREAT RARITY. The published census compiled by Jerome S. Wagshal contains at least 98 unduplicated records of Scott 5. There are probably no more than ten examples existing outside of the Wagshal census population. Therefore, the 1c 1851 Type I is the rarest of all United States stamps issued regularly prior to the 1868 Grills. An interesting anecdote about this stamp is contained in the Wagshal 7R1E census book. The stamp was acquired by Clifford C. Cole circa 1966 from a dealer’s stock, where it was misidentified as Scott No. 7. Mr. Cole informed the dealer and they agreed on a compromise price. Wagshal Census No. 5-CAN-17. Ex Cole and Smith. With 1967 and 1995 P.F. certificates

Robert Siegel Auction Galleries, Oct 2008, Sale 963, Lot 83

o 1851, 1¢ blue, type I (5), position 7R1E, large margins including part sheet margin at top, plumes and balls touched but essentially intact, deep rich color and strong impression, bold strike of circular grid cancellation, small thin spots. Very Fine appearance. Scott price $80,000 A HIGHLY DESIRABLE EXAMPLE OF THE 1¢ 1851 TYPE I THAT CLEARLY SHOWS THE TYPE CHARACTERISTICS OF THE COMPLETE DESIGN. Expertization: 2006 P.F. Certificate. The published census compiled by Jerome S. Wagshal contains 90 unduplicated records of Scott 5. This is the first addition to the Wagshal census since its publication. The stamp offered here should be considered extremely desirable because the type characteristics are clearly visible. To note, there are no fully sound, four-margined examples of type I recorded off-cover. Type I is the rarest type because it is found in only one position out of the 1,000 used to print the 1851 imperforate 1¢ stamps. Its desirability derives from being the only position to show the full design. Wagshall Census 5-CAN-091 (recently discovered).

Matthew Bennett International, May 2008, Sale 327, Lot 9

o 1851, 1¢ blue, type I (5), position 7R1E, the only one of the 1,000 possible positions that produced the 1¢ imperforate stamp, that shows the complete design, and thus the only type I. A completely sound example with strong color, a neat blue Philadelphia town cancel and clear side margins, just cut in slightly at the top and bottom but showing distinct double transfer that define the position. Fine and most attractive. SMQ price $90,000. Scott $55,000 A HIGHLY DESIRABLE EXAMPLE OF THE RAREST AND MOST SOUGHT-AFTER TYPE OF THE 1-CENT IMPERFORATE OF 1851. Expertization: 2007 P.S.E. Certificate graded F 70. Stamp number 5-CAN-046 in the Wagshal census, which, until 1995, had been on a Philadelphia Carrier cover to Pikesville, Md., along with two other 1¢ imperforates.

Matthew Bennett International, Oct 2007, Sale 322, Lot 2003