EXTREMELY FINE GEM. A PHENOMENAL MINT NEVER-HINGED EXAMPLE OF THE 1912 20-CENT PERF 12 SINGLE-LINE WATERMARK ISSUE, GRADED SUPERB 98 JUMBO BY P.S.E. -- EASILY ONE OF THE FINEST IN EXISTENCE.

Ex "Westchester" and "Golden State". With 2006 P.S.E. certificate (Superb 98 Jumbo; SMQ $5,750.00). Only one has graded higher (at 100, offered in our 2014 Rarities sale and recently brought $13,500 hammer in the "Golden State" sale) and no others share this grade. The margins on the stamp offered here are noticeably larger than the 100, but measurements must be off a fraction of a millimeter.

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