Sale 1166 — United States Stamps
Sale Date — Tuesday-Thursday, 24-26 October, 2017
Category — 1901 Pan-American Issue (Scott 294-299)
EXTREMELY FINE. A BEAUTIFUL ORIGINAL-GUM EXAMPLE OF THE ONE-CENT PAN-AMERICAN INVERT.
According to Johl, the 1c Pan-American Inverts were found in at least four different post offices around the country soon after release of the issue in May 1901, including Bessemer Ala., Richmond Va., Utica N.Y. and Connecticut.
With 2017 P.S.E. certificate (OGh, VF-XF 85; SMQ $19,500.00). Only six have graded higher (all at 90)
FINE APPEARANCE. A SCARCE USED EXAMPLE OF THE ONE-CENT PAN-AMERICAN INVERT. OFFERED TO THE MARKET FOR THE FIRST TIME IN DECADES.
The 1c Pan-American Inverts were found in at least four different post offices around the country, soon after release of the issue in May 1901. According to the revised Johl-King book (p.7) "The first known copies of this error were discovered at Bessemer, Alabama, by the Carrell Jewelry Company on some circulars just prior to mailing them. When they realized the find they had made they lost no time in removing the stamps from the circulars and thus saved them to philately."
The 1c Pan-American Invert in used condition is considerably scarcer than unused. Our updated census, available at our website at http://siegelauctions.com/dynamic/census/294a/294a.pdf , records 48 used examples plus three on cover, for a total of 51 copies.
Census No. 294a-CAN-36.
EXTREMELY FINE. ONE OF THE FINEST RECORDED EXAMPLES OF THE 2-CENT PAN-AMERICAN INVERT WITH ORIGINAL GUM.
A survey of the Levi records produced 64 single unused stamps (excluding the block of four and rejoined block of four). Many of these were described in auction catalogues more than 40 years ago; therefore, the determination of soundness is uncertain. However, assuming the old descriptions were reaffirmed today, approximately 45% of singles across all centering categories have faults.
Of the single stamps with Extremely Fine centering (a minimum grade of 85), we counted 13 sound and 9 with faults. This stamp has the distinction of being the only 2c Pan-American Invert offered in our very first Rarities of the World sale, in February 1964, where it realized $8,000 versus the then-current Scott value of $4,500.
With 1964, 1989, 2000 and 2006 P.F. certificates.
Click here for an introduction to the 1901 Pan-American Issue: http://siegelauctions.com/2013/1052/1901_Intro.pdf