Estimate $400 - 600. Very little is known regarding this forgery. It is the first United States commemorative issue ever to be forged. In 1950, George B. Sloane wrote in his column regarding this item: "Some years ago I saw a counterfeit that was the most extraordinary I have ever encountered. Had the stamp been perforated and gummed, in finished form, and circulated without government intervention, thousands of them would today repose in stamp collections, their character unquestioned.". This forgery was discovered by the Secret Service in California and in a report that sixteen examples had been passed on to a dealer. Apart from these confiscated items, this is the only known remaining example. $0 (Image)