Lot 238: Encased Postage Stamp. EP-36, 3 Cents, BAILEY + CO. Philadelphia. 5 to 10 Known!

Early American

December 10, 2016, 9:00 AM PST
Rancho Santa Fe, CA, US
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Description: Encased Postage Stamps Extremely Rare Three Cent "Bailey & Company Jewellers" Rarity-8 (Only 5 to 10 Known) According to Fred Reed EP-36, HB-45, S-22, Reed BC03. Three Cents. BAILEY & CO., Jewellers, Chestnut St., Philadelphia. Choice About Uncirculated. Rated as Rarity-8 (5 to 10 known) according to Fred Reed. This impressive example certainly ranks very high among the finest known. The 3 George Washington stamp is a rich red, is well centered just slightly to the top with just a hint of natural underlying tone. It is seen through pristine clear unbroken mica. The case shows virtually no circulation and what appears to be a manufacturing bruise to the obverse inner rim, likely as made. Overall, it is extremely sharp in detail, the brass frame and back being an attractive natural golden-chestnut in color with smooth surfaces and distinct legends. We only record having offered only four prior examples of this elusive EP number. The last sold was in our EAHA Auction, July 14, 2012, lot 17, graded Choice Unc., selling for $3,245. Previously, we sold in May 16, 2009, lot 840, graded About EF at $3,245 plus February 10, 2007, lot 787, graded Choice EF selling for $3,398 and way back in February 12, 2005, lot 903, which brought $2,961. This is an important Encased Postage rarity that is missing in most Encased Postage Stamp collections.
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