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    Milton 1P25F.1e 25¢ First Issue Proof PMG Choice Uncirculated 63. Lot 230 from Stack's June 13, 2005 sale. It was described there as, "Punch canceled," which it is not. It's a Plate Proof from the finished plate, identical to the Regular Issue note in almost every respect, including the single frame line. The only difference is in the frame line itself, which is not complete across the top of the note. It's printed on India paper, which is mounted to soft, thick card. The paper was mounted prior to the printing, as the embossing of the plate pressure goes through to the back of the card. Like all First Issue Proofs, this is an extreme rarity. Mr. Mayer paid a hair over $2500 for this piece over two years ago.
    From The Frederick Mayer Collection

    View all of [The Frederick R. Mayer Collection ]

    Auction Info

    Auction Dates
    September, 2007
    26th-28th Wednesday-Friday
    Bids + Registered Phone Bidders: 1
    Lot Tracking Activity: N/A
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