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Sale 1081 — The Goldfarm Collection of Australia Kangaroo and Map Series

Sale Date — Tuesday, 7 October, 2014

Category — Third Watermark Issue

Lot
Symbol
Photo/Description
Cat./Est. Value
Realized
3071
og
Sale Number 1081, Lot Number 3071, Third Watermark Issue 2-1/2p Indigo, Missing “1” in “-1/2” Fraction (BW 11(2)j; Scott 46a; SG 36ba), 2-1/2p Indigo, Missing “1” in “-1/2” Fraction (BW 11(2)j; Scott 46a; SG 36ba)2-1/2p Indigo, Missing “1” in “-1/2” Fraction (BW 11(2)j; Scott 46a; SG 36ba). Barest trace of hinging, brilliantly fresh, with deep luxuriant color and impression on bright paper, attractively centered, tiny natural wood pulp inclusion at right

VERY FINE FOR THIS FAMOUS ERROR. THE MISSING “1” in “-1/2” FRACTION ON THE TWO PENCE-HALF PENNY KANGAROO ISSUE OF AUSTRALIA IS ONE OF THE MOST IMPORTANT RARITIES OF THE BRITISH EMPIRE - AND FOR THAT MATTER OF THE ENTIRE WORLD. WHILE ONLY TWELVE USED EXAMPLES ARE RECORDED, MINT EXAMPLES ARE EVEN MORE RARE, WITH ONLY THREE KNOWN. THIS EXAMPLE FROM THE “GOLDFARM” COLLECTION IS WELL KNOWN, INCLUDING HAVING BEEN ILLUSTRATED IN THE PREVIOUS (1993) EDITION OF THE BRUSDEN-WHITE CATALOGUE.

According to the Brusden-White catalogue, this error “comes from the 1919 indigo printing, with dated examples ranging from July 1919 to March 1920. The variety was caused by a temporary ink clog flaw that was quickly corrected. This, and the fact that a portion of the relevant sheets was overprinted "N.W. PACIFIC ISLANDS", accounts for its rarity.

In our opinion, the various major catalogues undervalue mint examples of this rarity versus used ones given there are four times as many used examples. The Brusden-White catalogues a mint example at A$62,500.00, versus A$25,000.00 used. The Scott catalogue values a mint example at $45,000.00 and a used one at $14,500.00. And the more relevant Stanley Gibbons catalogue has unused examples valued at £50,000, versus £25,000 for used.

With a 1967 B.P.A. certificate

A$ 62,500
42,500
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