This variety is similar to #538 of the series of 1908-21 and is again the result of Bureau economy. They were made from sheets of 170 subjects which had been prepared for sidewise rotary press coils but due to "short lengths" and imperfect sheets these had been set aside as "waste." They had received the vertical 10 gauge perforations as part of the long roll.

This "waste" was reclaimed and issued in sheet form by perforating horizontally on the flat plate machines then set at 11 gauge.

The stamps were placed on sale in New York in sheets of 70 and 100 subjects. As most collectors did not realize their existence they were almost entirely overlooked and a comparatively small number were saved for philatelists.

As this was a case of perforating stamps that were already perforated, the entering and quality of perforation was poor. Above is an example where the perforation was omitted from the bottom margin.

First day cover, October 19th, 1923

The source for the design was this bust by Jean-Antoine Houdon