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    Milton 2E50R.1 50¢ Second Issue Negative Essay PMG About Uncirculated 50.
    Lot 1069 from the Friedberg Collection, this negative essay note has an incorrect denomination and an erroneous Milton number on the holder where it is also described as "toned." This is the second of this number known. It is printed on a thin, fibrous paper, unlike the normally seen softer papers used for most Negative Essays. It has two half-moon cancels with the right one so close to the edge that a small nick is out of the paper. It is stamped with the normal SPECIMEN but does not have the "D-5-18-63" that is seen on many of the negative essays. The term "Negative Reverses," or "Negative Essays," came from the appearance of the notes, which looks at a glance like a photo negative, that is, the dark areas appear light and the light areas appear dark. The term has been universally accepted by Fractional collectors, dealers, and researchers. The notes were probably printed from plates that had been made from other plates rather than from matrix dies or transfer rolls. This back design was simply an unadopted proposal where someone decided that certain design elements would look better reversed.

    Auction Info

    Bidding Begins Approx.
    3rd Friday
    Auction Dates
    22nd-27th Wednesday-Monday
    Proxy Bidding Begins Approx.
    4 Days
    Bids + Registered Phone Bidders: N/A
    Lot Tracking Activity: N/A
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    Auction Type
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