VERY FINE AND CHOICE. THIS IS THE UNIQUE SINGLE OF THE 1908 ONE-CENT VERTICAL COIL, SCOTT 316. ONLY TWELVE UNUSED PAIRS AND ONE UNUSED SINGLE ARE RECORDED. ONE OF THE RAREST STAMPS OF 20TH CENTURY UNITED STATES PHILATELY.
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 perforated in only one direction. They were then cut into strips of 20. The strips were pasted together to form rolls.
It is unknown exactly how many of these experimental coils were produced (one paste-up pair is known). They were superseded less than a year later by the Washington-Franklin issue coils, the first of which were issued on December 29, 1908.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 http://siegelauctions.com/enc/census/316.pdf) records nine pairs, three line pairs (one of which is rejoined) and an unused single, for a total of 25 stamps. No used examples are known.
Census No. 316-OG-02. Ex Engel as part of a strip of three. With 1961, 1987 and 1997 P.F. certificates