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From U.S. and Worldwide Stamps and Covers - Cherrystone Auctions - December 4-5, 2018

Lot 2181 - 1923 Rotary perf. 11, 1c green, unused part original gum, h.r., natural straight edge at top, thins, otherwise fine and attractive centering for this difficult issue with perfs clear (often found with perfs in), with 1959 PFC and 2010 PSE certificates, One of the rarest 20th Century United States stamps in unused condition (the 1c green, Scott's 594, is waste from a horizontal rotary printing used to make coils. At the beginning or end of a coil-stamp print run from the 170-subject rotary plates, some leading or trailing paper was produced that was too short for rolling into 500-stamp rolls. In 1919 the Bureau devised a plan to salvage this waste by perforating and cutting the sheets into panes. They were put through the 11-gauge flat-plate perforator in use at the time, giving the sheets full perforations on all sides. The existence of Scott's 594 was not reported until four months after the final sheets were delivered, and the 1c Rotary perf. 11 was soon recognized as one of the rarest United States stamps (Scott's Catalogue notes "both unused and used are valued with perforations just touching frameline on one side") cat. $65000 (Cat No. 594)....Cat. $65000, Est.$15,000 Sold for US$ 15,000

Cherrystone Auctions