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Sale 932 — The Scarsdale Collection, Part 4: Washington-Franklin Issues

Sale Date — Friday, 30 March, 2007

Category — 1917 Bi-Colored Issue (Scott 523 to 524)

Lot
Symbol
Photo/Description
Cat./Est. Value
Realized
263
nh
Sale Number 932, Lot Number 263, 1917 Bi-Colored Issue (Scott 523 to 524)$2.00 Orange Red & Black (523), $2.00 Orange Red & Black (523)$2.00 Orange Red & Black (523). Mint N.H., brilliant colors as fresh as the day it was printed, mathematically perfect alignment of vignette and frame, perfectly centered with unusually wide margins

EXTREMELY FINE GEM. A SUPERB MINT NEVER-HINGED EXAMPLE OF THE $2.00 ORANGE RED & BLACK 1918 FRANKLIN ISSUE, WHICH HAS BEEN AWARDED THE GRADE OF SUPERB 98 BY P.S.E. -- ONLY ONE HAS GRADED HIGHER.

The $2.00 and $5.00 1918 Issue are the first bi-colored dollar-denominated postage stamps issued by the United States. Both were released just three months after the famous 1918 24c Inverted Jenny, but the early printings were issued in small quantities, since stocks of the 1902 $2.00 and $5.00 1917 issue were still on hand.

According to Johl, the $2.00 Orange Red & Black was a color error on the part of the Bureau of Engraving & Printing. The official description and order for the bi-color stamps specified "Red and Black" for the $2.00. When subsequent printings appeared in 1920 and philatelists brought the matter to the attention of the Bureau, they were told "this stamp has always been this color" (Johl, p. 306). From studies of Bureau and Post Office records, it is clear that the originally-intended color was not issued until November 1920 (Scott 547), and that the earlier Orange Red stamps were mistakes. The quantity issued has been variously estimated at between 47,000 and 68,000.

With 1994 and 2000 P.F. and 2007 P.S.E. certificates (Superb 98; SMQ $8,000.00). Only two others have achieved this grade, and only one has graded higher.

1,300
9,500
264
nh
Sale Number 932, Lot Number 264, 1917 Bi-Colored Issue (Scott 523 to 524)$5.00 Deep Green & Black (524), $5.00 Deep Green & Black (524)$5.00 Deep Green & Black (524). Mint N.H., deep rich colors and proof-like impressions on bright paper, remarkably choice centering with well-balanced margins, Extremely Fine Gem, a beautiful stamp, with 1998 P.F. certificate

425
800
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