$1.00 Violet Black (460). Mint N.H., perfect centering with wide and well-balanced margins, deep rich color and sharp proof-like impression on bright paper

EXTREMELY FINE GEM. A SUPERB EXAMPLE OF THE 1915 $1.00 FRANKLIN PERF 10 DOUBLE-LINE WATERMARKED ISSUE, GRADED SUPERB 98 BY P.S.E — EASILY ONE OF THE FINEST IN EXISTENCE.

The change from 12-gauge to 10-gauge perforations occurred after single-line watermark paper was introduced. However, unlike the other denominations, the $1.00 was never printed on the new single-line watermark paper. The 50c and $1.00 denominations were originally printed in sheets of 200, and the Bureau still had stocks of the double-line watermark paper in this size on hand. The other denominations were printed in sheets of 400. The Bureau continued to use up their stocks of this paper, but the stamps were perforated on the newly outfitted Perf 10 perforating machines.

With 2004 P.F. and 2005 P.S.E. certificates (Superb 98). Only one grades higher (at 98J) and four share this lofty grade.

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