EXTREMELY FINE. A RARE SOUND AND CENTERED USED EXAMPLE OF THE 12-CENT 1869 PICTORIAL RE-ISSUE.
The 12c 1869 Pictorial Re-issue is the second rarest of the set in used condition, after the 3c. The Rose book estimates 15-25 extant used copies, and SMQ estimates 20 extant. It was the only used 1869 Re-issue denomination in the Zoellner collection that was accepted with a small fault. This stamp ranks among a small handful as the finest extant.
Ex Dr. Morris and Lessin. With 1991 and 2002 P.F. and 2005 P.S.E. certificates (XF 90; SMQ $7,500.00). Only one has graded higher (at 95) and two others share this desirable grade.