BrentAbba, My 2015 Scotts Specialized Catalogue of Stamps and Covers states this: "Very fine cut squares will have the design well centered with moderately large margins. The margins on 20th century cut squares should be at lease 1/4 inch on the cut sides unless otherwise indicated. Cut squares of modern issues should show full tagging bars when they exist."
There is a very ready market for U.S. envelope cut squares in the United States and somewhat overseas. Part of the reason for this is that Scott has published album pages for cut squares that fit the U.S. National album.
Great thread and pictures. I have always enjoyed collecting cut squares and like full corners if I can get them. It's fun trying to determine paper color and type. Take care...
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