Lot 77
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Canal Zone 1912, 5c deep blue & black, vignette error (Cordoba portrait of 2c) (40a), well centered and lightly cancelled. Light creases and small thins. Fresh Very Fine appearance.
Scott $8,750
AN EXCELLENT EXAMPLE OF THIS RARE ERROR, ONLY ABOUT TEN OF WHICH HAVE BEEN RECORDED, MOST OF WHICH ARE DEFECTIVE.
This spectacular error was not discovered until 1925, a full nine years after it was issued. Dr. Leeds recalls its discovery: "After the announcement [of the error] by Marks Stamp Co. of Toronto in 1925 the family searched its stocks for a copy. Our incentive was Marks' $300 asking price. At that time The Canal Zone Stamp Co. (my family) was supplying the tourist traps with small collections [of Canal Zone/Panama stamps]. To satisfy this thirst for packet material purchases were made of 5¢ denomination stamps from the most likely sources, Jamaica, other B.W.I. islands, and London. Six or seven packets of 100 5¢ stamps were in stock. [These included the four recognized types] and possibly a few #48 which we failed to recognize. On about the next to last packet opened my mother casually asked, 'Is this it?' My father's reply was 'Wonderful, I'll buy you a hat’ [To which she responded] 'But I don't need a hat!' The next day he brought home a box of chocolates."
Leeds' copy was the fourth to be discovered and has since become known as the "Gatun" copy. It was last displayed in the Court of Honor at PACIFIC '97.
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| Realized $11,000 |
