1871 $500 Persian Rug stamp may see $15,000 at Kelleher Auctions



2015-06-26 13:13:17

1871 $500 Persian Rug stamp may see $15,000 at Kelleher Auctions

The 1871 $500 Persian Rug stamp is one of the most beautiful US revenues in history

A magnificent example of the 1871 $500 Persian Rug stamp will lead Daniel F Kelleher Auctions' April 11-14 auction in Connecticut, entitled The Flagship Series Sale.

Large Persian Rug stamp The Large Persian Rug would have been used to pay tax on a transaction over $5m, which explains the low numbers produced

The Large Persian Rug will sell with a $10,000-15,000 estimate. It is regarded as one of the most beautiful designs among US revenue stamps, and even in all of US postal history.

The $500 stamp and its counterpart, the $200 Small Persian Rug, were introduced in 1871 as part of a replacement issue for the 1862 first issue revenues, which had been blighted with counterfeiting.

This new issue was the first to feature three colours,a moveintended as an additional security measure.

There were only 204 examples of the Large Persian Rug ever sold due to the fact that, with a $500 value, it could only be used to pay the tax on a $5m transaction, which was a huge sum of money at the time.

Only 67 of the 204 sold are known to have survived.

The example at auction bears a manuscript "P P M July 8 1872" cancel and is well centred with strong colours. However, it has a large filled-in thin patch at the centre, as well as other lesser flaws that have been repaired. That said, it retains a fine appearance andmost examplesof this rarityhave faults.

Paul Fraser Collectibles brings you all the latest news on stamp collecting, as well as offering a superb selection of rarities in our online store.

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