EXTREMELY FINE GEM. A PHENOMENAL EXAMPLE OF THE UNWATERMARKED 2-CENT TYPE I 1894 ISSUE IN THE CARMINE LAKE SHADE. THIS MAGNIFICENT MINT NEVER-HINGED STAMP HAS BEEN AWARDED THE GRADE OF SUPERB 98 BY P.S.E. -- ONLY TWO HAVE GRADED HIGHER AND NONE SHARE THIS GRADE.
As collectors of the First Bureau Issue know, great difficulty was experienced in perforating the stamps, either due to poor equipment or improper operation. Choppy, ragged perfs and poor centering are so common on this issue that it is often possible to separate the 1894 unwatermarked stamps from the 1895 watermarked stamps by the appearance of the perforations alone. This example, with precise centering, Jumbo margins and perfectly formed perforations is an extreme condition rarity.
With 2014 P.S.E. certificate (Superb 98; SMQ $15,000.00). Only two have graded higher and none share this grade.