$1 Franklin Pre Cancel + Perfin ???

This was sent as a bonus (likely due to the boo boo) but I've never seen a precanceled perfin in my travels. Any info on the perfins origin and is it also a mis perfin or is it complete?

I do not have any catalogs on such things, but I'll tell you what I do know.

First of all, the precancel is Type 203 from Newark, NJ (quite common, minimal catalog value);

Second, I do believe the perfin is from the General Electric Company. There is sometimes a perf or two in the design that specifically indicates the location of the plant where the perfin originated, however, in the case of your precancel, it's reasonable to assume it was Newark, NJ.

WT1 Thank you for the info.
I'm curious (short for uneducated) why a pre cancel would or could be used as a perfin or vice versa. I thought that each had there own purpose and don't see why the 2 would cross paths. I havn't been walking the stamp world for long so maybe that is why I have never seen the 2 together.

Simply stated, the perfin is for private use in marking the stamp with small holes so as to discourage employee theft. Stamps can and do still get perfined today, although they are much less common because postage meters have replaced stamps in most large businesses.

The precanceled stamp is that authorized by the post office to be placed on large mailings for use ONLY at the post office printed on the precancel.

I suppose the theory is that if a dishonest employee were to steal precanceled stamps from one business, there would be the opportunity to re-sell them to other businesses using the same post office. If the stamps were perfined, it would prevent that possible re-use.

As you may know, locally precanceled stamps (showing city and state designations typically between two bars) have been discontinued since 2007. Today's precancels are still in use, but are a bit more generic as shown on this USPS web site:

http://pe.usps.com/businessmail101/...canceled.htm

These 'prepers' are very popular with precancel and perfin collectors. The fact that the base stamp has a C/V of 25$ or 140$ depending on watermark does not hurt either! Good Find!

Don't forget that one must consider condition, too. The scanned stamp has a large tear in the right side and pulled perfs on the left, which would detract from its catalog value.