1c Panama-Pacific (397). Mathematically perfect centering, wide margins and beautiful bright color, light wavy-line machine cancel, Extremely Fine Gem, a stunning example of this issue, with 2011 P.F. and P.S.E. certificates (Gem 100; SMQ $300.00 as 98, unpriced in higher grades), this is one of only three examples to achieve this perfect grade with none higher
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