UNITED STATES STAMPS AND POSTAL HISTORY continued...

This is, without question, the finest never hinged #261 in existence. Collectors of gem United States stamps will recognize the difficultly of obtaining any of the First Bureau Issue stamps with perfectly balanced margins all around. They were produced with narrow margins, particularly at the sides, creating stamps with very narrow side margins and normal size margins at top and bottom. The Dollar value in particular is notorious for possessing these unbalanced margins. With the PSE's grading structure, stamps with such unbalanced margins, even if otherwise very well centered, will have their grades reduced. Even if one were to find a Bureau issue with balanced margins all around, the chances of it being both perfectly centered and never hinged are practically nil. That it happened on an unwatermarked Dollar value is even more incredible. To emphasize this fact, we looked at the PSE population report and found only four #261's in never hinged condition, but even more telling is that of the 499 stamps of the First Bureau Issue in never hinged condition, the stamp offered here is the only one they have deemed worthy of the Gem 100 designation. Even the relatively common 1c and 2c value have yet to have a never hinged example reach the Gem 100 mark.

A breathtakingly beautiful stamp and one of the great condition rarities in all of United States philately. Accompanied by a 2008 PSE certificate (Gem 100; SMQ $40,000.00 for a mere 98); this is the only example of any First Bureau Issue to receive the coveted Gem 100 OGnh grade. (Image)