DescriptionHB-120 EP-15 Reed-TH01 1¢ Gage Brother & Drake (Tremont House) About New.
The One Cent denomination of this merchant is surprisingly scarce. Fred Reed's auction survey shows only twenty-five appearances from the 1891 through 1994 period, which of course includes heavy duplication. Reed rates the piece as an R-8, indicating five to ten known, a number with which we are in agreement. Mr. Mayer had been unable to obtain this denomination in his decades of collecting until his piece appeared in the Stack's June 2004 sale. The Kelly piece is virtually identical to Mr. Mayer's, including the considerable silvering on the back, but it is definitely a different piece. The stamp is fully fresh and beautifully centered, and the mica has only trivial separations extending in from the edges in three places.
From The Honorable William H. Kelly Collection
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