LOT Old Heritage Auctions  /  2007 Sept Long Beach, CA Sig Currency #448  / 

12619

Fr. 1310a Milton 1R50.3d 50¢ First Issue Perf.

Currency:USD Category:Coins & Paper Money Start Price:2,500.00 USD Estimated At:10,000.00 - 17,400.00 USD
Fr. 1310a Milton 1R50.3d 50¢ First Issue Perf.
<B>Fr. 1310a Milton 1R50.3d 50¢ First Issue Perf. 14 Vertical Pair PMG About Uncirculated 55.</B></I> This pair has a single light fold and a bit of handling, but it's well perforated, with excellent face margins and with the wide bottom selvage intact. This is the extremely rare perforated 14 variety. Perforated 14 refers to the number of perforations per 20mm of edge length. The normal perforations on First Issue Notes are larger: perf. 12, or 12 perforations per 20mm of edge length. The generally accepted history of these more-tightly-perforated notes is that they were conjured-up from two imperforated sheets by dealer Harlan P. Smith around 1890. Although there is no documentary evidence, there is considerable circumstantial evidence that Smith perforated these sheets himself. As Blake, Valentine, Limpert and Rothert listed this variety as genuine, it remains highly desirable and collectible in spite of its private production. Only one other pair is known to exist, part of the Crofoot Collection in the Smithsonian. There is also a vertical strip of four which was in the F.C.C. Boyd estate. It was old by Stack's in June of 2005. Frederick Mayer paid $6,325 for this piece in January of 1997. It will do far better this evening. (10,000-up) <BR><I>Previously lot 506 from CAA's 1/97 Milt Friedberg Sale. ex. John Sayer 1978. Prior to that Lot 1081 from the September 19, 1975 Sale of the Winthrop Collection.</B></I><BR><I>From The Frederick Mayer Collection</B></I><BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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