Lot 1850 o
1923, 1¢ green, rotary coil waste, light wavy line machine cancel, rich color, perfs in at right, about Fine, Scott catalog value for perforations just touching frameline on one side; with 2017 P.S.E. certificate.Scott No. 594 $10,500.
The coil waste issues came about from the unusable portions (or waste) the derived when producing coils from the horizontal rotary printings. In the case of the 1923 1¢ coil waste (594) the waste had not been previously perforated and therefore were entirely perforated with the flat plate perforator which gauged 11x11. Since the Bureau did not consider this "coil waste" a different issue, no formal announcement was issues prior to their release. It wasn't until 1925 that this issue was discovered in used condition and by the next year only four examples were on record.
Realized: $4,000