US Stamps Value Scott #523: 1918 US$2.00 Benjamin Franklin Perf 11. Page 2

$2.00 Orange Red & Black (523). Top plate nos. 8179/8177 and arrow block of eight, lightly hinged, radiant colors and detailed impressions FRESH AND FINE. A SCARCE PLATE BLOCK OF THE 1918 $2.00 ORANGE RED & BLACK. 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 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. The quantity issued has been variously estimated at between 47,000 and 68,000.

Robert Siegel Auction Galleries, Apr 2015, Sale 1096, Lot 759

$2.00 Orange Red & Black (523). Block of four with top black plate no. and part arrow selvage, three stamps Mint N.H., top right stamp single hinge mark, Fine, Scott Retail as singles

Robert Siegel Auction Galleries, Apr 2015, Sale 1096, Lot 758

$2.00 Orange Red & Black (Scott 523). Mint N.H., wide margins and exceptionally well-centered, Extremely Fine Gem, with 1984 and 1997 P.F. certificates

Robert Siegel Auction Galleries, Apr 2015, Sale 1096, Lot 757

1918, $2 orange red & black. Showing dramatic downward shift of vignette, o.g., never hinged, well balanced margins, strong colors, Very Fine to Extremely Fine, with 2007 P.F. Graded certificate (VF-XF 85, SSV $1,350). Scott No. 523; $1,200.

Schuyler J. Rumsey Philatelic Auctions, Apr 2015, Sale 60, Lot 2426

1918, $2 orange red & black. Top margin plate number “8177” single, o.g., never hinged, strong colors, F.-V.F., a scarce plate single, with 1998 P.F. certificate. Scott No. 523; $1,200.

Schuyler J. Rumsey Philatelic Auctions, Apr 2015, Sale 60, Lot 2839

United States 1910-30 Issues 1918 $2 orange red and black, h.r., wide margins, v.f., with 2001 PFC

Cherrystone Auctions, Mar 2015, Sale 201503, Lot 58

1918, $2 orange red & black (523), well centered, rich color. Never hinged original gum with slight natural gum bend. Very Fine. Scott value $1,150 Expertization: 1982 P.F. Certificate.

Matthew Bennett International, Feb 2015, Sale 351, Lot 217

$2.00 Orange Red & Black (Scott 523). Original gum, lightly hinged, vibrant colors, wide and balanced margins, Extremely Fine Gem, with 2007 P.S.E. certificate (OGph, XF-Superb 95; SMQ value $850.00)

Robert Siegel Auction Galleries, Feb 2015, Sale 1093, Lot 484

$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. Ex Natalee Grace. With 1995 P.F. and 2009 P.S.E. certificates (Superb 98 Jumbo; unpriced in SMQ above the grade of 98, SMQ price $1,750.00 as 98). This is the highest grade awarded and the only example to achieve this grade.

Robert Siegel Auction Galleries, Feb 2015, Sale 1093, Lot 486

$2.00 Orange Red & Black (523). Top double plate nos. 8177/8179 and arrow block of eight, rich colors with just a trace of oxidation at edges VERY FINE AND SCARCE PLATE NUMBER BLOCK OF THE 1918 $2.00 ORANGE RED & BLACK. 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 1902 $2.00 and $5.00 1917 issue 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. The quantity issued has been variously estimated at between 47,000 and 68,000. With 1991 P.S.E. certificate

Robert Siegel Auction Galleries, Feb 2015, Sale 1093, Lot 485

$2.00 Orange Red & Black (523). Bottom arrow block of four, neat Kansas City Federal Reserve cancels, bottom left stamp creases, Very Fine appearance, scarce used position block, Scott Retail as normal block of four

Robert Siegel Auction Galleries, Feb 2015, Sale 1093, Lot 488

$2.00 Orange Red & Black (Scott 523). Jumbo margins, fresh colors, three clearly-struck registry double ovals, Extremely Fine, with 2008 P.S.E. certificate (XF 90 Jumbo; SMQ price $400.00 as 90, $850.00 as 95)

Robert Siegel Auction Galleries, Feb 2015, Sale 1093, Lot 487

$2.00 Orange Red & Black (Scott 523). Mint N.H., fresh colors, wide margins, Very Fine and choice, with copy of 1987 P.F. certificate for a block of four

Robert Siegel Auction Galleries, Feb 2015, Sale 1092, Lot 1359

$2.00 Orange Red & Black (Scott 523). Mint N.H. with left part arrow selvage, wide margins and choice centering, Extremely Fine, with 2015 P.S.E. certificate (VF-XF 85; SMQ value $1,300.00)

Robert Siegel Auction Galleries, Feb 2015, Sale 1092, Lot 1358

1918, $2 orange red & black (Scott 523), o.g., never hinged, desirable wide margined stamp with fantastic rich color, a beauty, Very Fine, 1990 P.F. certificate. Scott $1,150. Estimate value $750 – 1,000.

Daniel Kelleher Auctions, Jan 2015, Sale 663, Lot 1865