VERY FINE AND CHOICE PAIR OF THE RARE ONE-CENT VERTICAL COIL, SCOTT 316. OUR CENSUS RECORDS ONLY TWELVE PAIRS AND ONE SINGLE. THIS IS ONE OF THE FINEST PAIRS IN EXISTENCE.
According to Johl, these first government coils were an experiment, and collectors and dealers were generally unaware of their existence. Regular sheets of 400 were printed and then perforated in only one direction. They were then cut into strips of 20. The strips were then pasted together to form rolls (one paste-up pair is known).
It is unknown exactly how many of these experimental coils were produced. They were superseded less than a year later by the Washington-Franklin issue coils, the first of which were issued on December 29, 1908.
Our census of Scott 316, available at https://siegelauctions.com/census/us/scott/316 , records nine pairs, three line pairs (one of which is rejoined) and an unused single, for a total of 25 stamps. None are known used.
Census No. 316-OG-PR-03. Ex Grunin and Floyd. With 1967, 1994, 2002 and 2018 P.F. certificates