EXTREMELY FINE GEM. THIS PHENOMENAL STAMP HAS BEEN GRADED GEM 100 JUMBO BY P.S.E. -- THIS IS THE HIGHEST GRADE POSSIBLE ON THE GRADING CHART AND NO OTHERS SHARE IT.
According to Johl, in 1914 the Bureau of Engraving and Printing had difficulty securing proper inks, and the red which was used as the basic color for the 12c (and also the 2c) was the most difficult to obtain. In August 1914 World War I was just getting under way, and Great Britain allowed all dies and chemicals not manufactured domestically for printing U.S. stamps to be shipped from Germany. The Copper Red shade (Scott 435a) was from the earlier printing before the inks were received.
With 2008 P.S.E. certificate (Gem 100 Jumbo; unpriced in SMQ above the grade of 100, SMQ $3,500.00 as 100). This is the highest grade possible on the grading chart and the only example to achieve it.