DescriptionHB-114 EP-146 Reed-EM12 12¢ Ellis McAlpin & Co. Extremely Fine.
Previously Lot 485 from the Stack's June 2004 sale. The case is a nicely toned light brass, the mica is clear under direct light, with a minor craze mark under angled light coming from the left tab to Washington's chin, and the stamp is bright and well centered. Reed's auction survey shows only thirteen examples, including heavy duplication. His rarity rating of R-9 indicates two to four known. The Hodder-Bowers reference feels "Two or three," and the Stack's June 2004 catalog, which offered two pieces, stated, "Four or five." We believe four is the correct number.
From The Honorable William H. Kelly Collection
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