EXTREMELY FINE GEM. A SUPERB MINT NEVER-HINGED EXAMPLE OF THE 1915 $1.00 PERF 10 ON DOUBLE-LINE WATERMARKED PAPER, SCOTT 460. THIS STAMP IS GRADED SUPERB 98 BY P.S.E.
The change from 12-gauge to 10-gauge perforations occurred after single-line watermarked paper was introduced. However, unlike the other denominations, the $1.00 was never printed on the new single-line watermark paper. The 50c and $1.00 denominations were originally printed in plates of 200 subjects, and the Bureau still had stocks of the double-line watermark paper in this size on hand. The other denominations were printed in sheets of 400. The Bureau continued to use up their stocks of this paper, but the stamps were perforated on the newly-outfitted Perf 10 perforating machines.
With 2007 P.S.E. certificate (Superb 98; SMQ $13,750.00). Only one has graded higher (at 98J) and four others share this desirable grade.