Schuyler J. Rumsey is going to conduct the sixth annual Gems of Philately auction of United States and Possessions stamps and postal history. The auction offers many items from Vernon Morris "Fighting the Fed" exhibit collection and Dan Richard’s collection of Revenue Stamps. The sale of 365 lots features an array of some of the finest stamps and covers on the market today.
One of the highlights of this sale is an attractive example of the 1923 1¢ Rotary sheet waste perf 11 issue, which is a great 20th century rarity with only fifteen examples recorded. This is undoubtedly the rarest United States issue of the 20th century. It was probably produced during the middle of 1924 however it was only discovered in 1962. This issue was the result of "coil waste" but rather than made from horizontal coil sheets, such as Scott #578-579 and #594-595, this issue was made from vertical coil waste sheets.
The auction house described this lot as follows: “1923, 1¢ green, rotary sheet waste. Very light machine cancel, well centered for this notoriously off-centered issue, strong bright color; trivial short perforation at bottom right, Very Fine for the issue.”
The lot is expected to fetch $160,000.
