1¢ - Deep grey green

Printing Method: ROTARY PRESS
Subject: Benjamin Franklin
Number issued: 10,000
(17 unused and 88 used copies exist)
Perforations: 11
Measurement: 19½ x 22¼mm
(notice it is 22¼ and not 22½)
Watermark: Unwatermarked
Scott #: 594
Issued: May, 1923

Values are only for stamps accompanied by a certificate of authenticity

Used
$2,759 - $4,750
No postmark with gum (MH)
$6,500 - $9,500
Full perfect gum, no postmark
no trace of stamp hinge mark (MNH)
None recorded

There is no accurate issue record of this stamp as its existence was not known until almost two years after the approximate date of issue, when this variety was discovered by a collector who claimed to have had a copy in his collection "for about one year." Upon investigation it was discovered that in May 1924 the Bureau used some unperforated coil waste made from sidewise rotary press sheets and had put these through the flat plate perforating machines, hence these appeared perforated 11 both horizontally and vertically.

As there was no knowledge of this stamp having been issued and since the perforations were the same as the ordinary stamp they were entirely overlooked, the only copies known to have been saved were accidental rather than intentional.

This variety was never delivered to the Philatelic Agency, all copies were sent out with the regular stock of one cent stamps, almost all known copies have been found from mail originating in New York City. It has been said that only seventeen copies in mint condition is known and only eighty eight used copies have been
found to survive,