Question About 10c Monroe

Hey Everyone! Need some help from the experts.

Recently, I was made aware of a man selling a 10c Monroe Stamp for 74,000 because perf on the top being ten and not the normal eleven. Apparently, some cancelled ones exist but his was the only in mint condition. I came across this stamp that I had and wondered if this is considered rare. I am not an expert on perf. so I'm asking the "community" for some insight. The one on the right of the picture is the one in question. Thanks all!



Look forward to your reply.

I'm not an expert on this but I have started colecing stamps of the same/earlyer era and the way I understand it is the perforations are different top or bottom from a mistake the stamp you have there has the same top and bottom it is a 10 that is offset slightly there are a lot of stamps that have this mistake although there are not many of each available. This series and the franklins before also have the 10/11 and the franklins also have the 10/12s which are 10 top bottom 12 on the side or the other way round but I thought I had one because I counted 10 on the top and bottom and 12 on the side but in reality it's the closeness of the perfs and it should have counted 14 down the side to be one. They did do a 10 perf in the stamp you have there which is what you seam to have try this web site it has helped me a lot to understand this link will take you the right stamp there is a clickable picture guide which is great
http://www.theswedishtiger.com/ID562.html

Ps if I'm right or can some one verify this

The 10C Monroe was originally issued as perf 11 (Scott # 562) It was subsequently issued as a perf 10 (Scott # 591) It was again issued as perf 11x10 1/2 (Scott # 642) It was also issued in coil format. None of the perf varieties are especially valuable in used condition. Even in mint condition it shouldn't be more than a few dollars of 10's of dollars.

Watch out for what you see on ebay, there are too many scammers lately looking to pawn off common stamps as "Rare". The Auction ended or I would list one that I saw last week, It was an auction for a booklet pane of 3 US Spirit of St Louis Air Mails in MNH. The catalog value for these are $130.00 US, this seller was starting his bid @ $175.00 stating that they were rare since the Stamps were only perforated at the tops of each stamp. it's a booklet pane, you do the math. There is no 10¢ Jefferson that is valued anywhere near $70,000.00 AFAIK

The perf 10 horizontal 562 does exist (Scott #562c). The stamp is perforated 10 either on top or bottom. Siegel Auctions just sold a mint, lightly hinged example for $47,500. According to them, there are only three unused examples of this stamp. Here's the link to the actual stamp.

http://www.siegelauctions.com/dynam...sale_no=1001

Regarding the stamp you have scanned, it does not look like 562c because the horizontal perforations look identical. The 562c is perfed 10 on one horizontal side.

Hope this helps.

Yes, I stand corrected. After consulting my Scott's Specialized catalog there is a listing for the 10¢ Monroe, catalog # 562C which does list a Perf 10 at top or bottom with a catalog value of $20,000 or $42,500 for a pair but it lists them only as used, so there have been no reports of one in existence for Mint.

The are several of the flat plate 1922 series with perf 10 top or bottom, and the 25 vcent with perf 10 on one side. This error occured when some of the pins in the rotary perforation were replaced with the wrong pin on one wheel. The result was one row that perforated 3-1/2 stamps perf 10. Stamps can have a transition perf also, that is wher part of the perfs are 11 and the remainder are 10. This perf has been found on the 2, 4, 5, 10, 25 cent and has recently been reported (unconfirmed) on the 1 cent.

When Scott puts a dash for the price, it means it is known to exist in that condition but there is insufficient sales information for them to assign a price (or what is more often the case, they haven't gotten around to updating the catalog information even though there have been recent auction sales of the item).

There are a couple of mint singles of 562c known to exist. I am not aware of any mint pairs in existence.

For all those who know "way, way, way, more" than I ever could about stamps! May your eyes be opened.

http://www.thestampcenter.com/562c.htm

The stamp ended up selling for $74,000.00

I remember the Dutch Country Auction well because I am a former customer and subscribed to their auction catalogs.

The stamp sold by Seigel this year is the exact same stamp as the one DCA sold in 2006. In the 4 years, the stamp took a hit of nearly $30,000, and that doesn't even include the auction fees!

So don't think that every rare stamp is a great investment.

Also, the information provided by DCA is incorrect. It is NOT the only known unused example. There is some issue with whether the earlier examples are unused. I don't like it when auctioneers hype a product with incorrect information. There is a reason why the later hammer price was so much lower. Seigel had the audacity to be honest and point out that other unused singles exist. An honesty, that unfortunately has become a rare commodity among the large auction houses.

I am no longer a DCA customer. I've learned the hard way, and I do not have confidence in their auction descriptions. Strictly my opinion.

Almost forgot. I also want to confirm what has already been pointed out. The stamp at right in your pic is NOT #562c. I'm not an expert, but I did a simple cut/rotate/paste of your pic to show that the perfs on all four sides are of the same gauge.

Another mint copy sold 12-9-2010 at Siegel for $47,500
Edit: Addition mint copy sold 6-19-2010 Siegel for $50,000. I can find documentation for 2 used pairs (one is precancelled).

That was the Siegel auction stamp I was talking about -- it is the exact same stamp as the one DCA sold 4 years ago. A drop of nearly $30,000 in 4 years.

Yes, that is all I am aware of in used pairs as well. Thanks for confirming that, Russ. If you or anyone finds more used pairs, please post and let us know.