Used and Done for stamp cancellation returns $60,000 at Siegel



2015-06-26 12:36:08

Used and Done for stamp cancellation returns $60,000 at Siegel

Strong results were recorded for the Artemis collection of US fancy stamp cancellations this week

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We were enthusiastic about the opportunity to report on a new series of rare stamp auctions by Siegel including the Artemis collection of US Fancy Cancellations and the Albert D. Laehder U.S. collection.

Indeed the sales this week of both were remarkably strong.

The "Artemis" sale realised $280,015 hammer price ($322,017 with 15% premium). The hammer realisation was 2.3 times the pre-sale estimate of $120,000-160,000. Interest in fancy cancellations, regarded as a form of American folk art, is at an all-time high.

Used and Done for cancellation cover Don't look on the bright side... The used and done for cancellation cover

In particular the "Used and Done For" cover realised $60,000 hammer against an estimate of $15,000-20,000.

The Albert D Laehder US collection realised a $564,365 hammer price ($649,020 with 15% premium). The hammer realization was 73% over the pre-sale estimate of $325,000. Bidding from collectors and dealers was consistently strong.

One lot which performed particularly well was a 2c Red, Type I plate coil stamp joint line pair. Lightly hinged, with intense shade and impression, it boasts remarkably choice centring for this difficult Rotary coil issue.

The 2c Type I rotary plate was used very briefly to make vertical coils issued in late 1915. It was briefly used because the Type I plate was not very deeply engraved and the curvature of the rotary press yielded impressions lacking in some of the details.

2c coil type I red stamps Making the wrong impression: the 2c coil type I red stamps

The Bureau noticed this immediately, and quickly replaced it with the Type III plate. The type I pair in the sale is in extremely fine condition. A superb joint line pair of the 2-cent vertical coil, (Scott 449), it is very scarce in any condition and rare in this high grade.

It easily surpassed its $14,500 listing, bringing $24,000.

The strength of these sales reflects solid market demand from collectors and the trade. It hints that the stamp market is going to begin a strong surge this autumn.

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