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This piece of info concerns a mint 1923 Washington 1c green rotary sheet waste stamp is set to headline a sale at Kelleher Auctions on September 27-29.
This is a very rare, never hinged specimen – one of approximately 20 in unused condition. Rotary sheet waste stamps were produced between 1919 and 1923, using rotary presses. They were initially discontinued when it emerged that the length and width of the stamps varied when compared with the standard flat press stamps.
Due to poor centering and other minor defects, a number of coil stamp sheets had been set aside as “waste” to be destroyed. The US Post Office wavered at first but went on to issue them anyway. This example is a perf 11 specimen – so named for the 11 gauge perforator used to separate the stamps. It's valued at US$40,000-60,000. A used example of the issue (one of only 13 survivors) sold for US$90,000 in 2012.
Sourced by paulfrasercollectibles.com