Lot 4221 o
1923, 1¢ green, rotary coil waste, neat slogan machine cancel, wide margins and beautifully centered for this notoriously off-centered issue, rich vivid color on bright fresh paper, Extremely Fine, Scott catalog value for stamp with perforations just touching frameline on one side; with 2001 P.F. certificate.Scott No. 594 $10,500.
ONE OF THE FINEST USED EXAMPLES OF THE RARE 1923 1¢ GREEN ROTARY COIL WASTE PERF 11 ISSUE - ONE OF THE VERY FEW BOTH SOUND AND WELL CENTERED.
The coil waste issues came about from the unusable portions (or waste) the derived when producing coils from the horizontal rotary printings. In the case of the 1923 1¢ coil waste (594) the waste had not been previously perforated and therefore were entirely perforated with the flat plate perforator which gauged 11x11. Since the Bureau did not consider this "coil waste" a different issue, no formal announcement was issues prior to their release. It wasn't until 1925 that this issue was discovered in used condition and by the next year only four examples were on record.
Realized: $8,500