1c - Green or gray green
Rotary press - Perf. 11 x 10 - Unwatermarked - Scott #538 - 1919

  NY Auction Houses
  MNH MH Used MNH Graded
Spring 2006 $6-$7 $4 - $625 95J
Fall 2006 $5-$20 $1-$5 - $425 95
- - - $900 98
Spring 2007 $6-$35 $1-$5 - $800 98
Fall 2007 $5-$75 $1-$8 - $1,200 98J
Spring 2008 $6-$35 $1-$2 - - -
Fall 2008 $5-$22 $1-$4 - $110 95
- - - $800 98
Spring 2009 $5-$21 $1-$3 - - -
Fall 2009 $4-$16 $2-$3 - $140 95
Spring 2010 $5-$20 $3-$6 - $650 98
Fall 2010 $5-$7 $4 $2-$6 - -
Spring 2011 $4-$14 $2-$4 $2 $1,050 100J
Fall 2011 $2-$40 - $1-$3 $300 98
2012 $3-$30 $1-$13 - $1,500 100J
2013 - - - - -
2014 - - - - -
2015 - - - - -
2016 - - - - -
2017 - - - - -
2018 - - - - -



1c - Green or gray green
imperforate Horizontally
Rotary press - Perf. 11 x 10 - Unwatermarked - Scott #538a - 1919
Prices are for pairs

  NY Auction Houses
  MNH MH MNH Graded MH Used Graded
Fall 2009 - - $45-$125 - - - -
Spring 2010 - - - - - - -
Fall 2010 - $28 - - - - -
Spring 2011 $12 $15 - - - - -
Fall 2011 - $16 - - - $1,000 -
2012 $15-$27 $11-$30 - - - $350 90
2013 - - - - - - -
2014 - - - - - - -
2015 - - - - - - -
2016 - - - - - - -
2017 - - - - - - -
2018 - - - - - - -


2c - Carmine Rose - Type II
There is a shading line in the first curve of the ribbon above the left "2"
and in the second curve of the ribbon above the right "2"
Shading of toga button is heavy.
Rotary press - Perf. 11 x 10 - Unwatermarked - Scott #539 - 1919
Most stamps are off center

  NY Auction Houses
  MH Used MNH Graded MH Graded Used
Spring 2005 - - - - $2,200 - -
Fall 2005 - - - - - - -
Spring 2006 - $5,000 $6,500 - $1,150-$2,300 - -
Fall 2006 - - - - $2,100-$5,250 - -
Spring 2007 $2,200 - $22,000 - - - -
Fall 2007 - - $3,000 - $4,000 85 -
Spring 2008 - - $14,500 - - - -
Fall 2008 - - - - - - -
Spring 2009 - - - - - - -
Fall 2009 - - $11,000 80 - - -
Spring 2010 - - - - - - -
Fall 2010 $2,150 - - - - - -
Spring 2011 - - - - $1,400 - -
Fall 2011 - - $3,500-$4,250 - - - -
2012 $1,400 - - - $1,600 - $36,250
2013 - - - - - - -
2014 - - - - - - -
2015 - - - - - - -
2016 - - - - - - -
2017 - - - - - - -
2018 - - - - - - -


2c - Carmine rose or carmine - Type III
There are two shading lines in the first curve of the ribbon above the left "2"
and in the second curve of the ribbon above the right "2"
Shading of toga button is heavy.
Rotary press - Perf. 11 x 10 - Unwatermarked - Scott #540 - 1919
Most stamps are off center

  NY Auction Houses
  MNH Graded MH Used MNH Graded
Spring 2006 $6-$18 - $4 - $950 98
Fall 2006 $9-$20 - $2 - $1,100 98
Spring 2007 $4-$50 - $2-$5 - $1,500 98
Fall 2007 $6-$12 - $2-$4 - - -
Spring 2008 $5-$50 - $1 - - -
Fall 2008 $12-$15 - $2-$7 - - -
Spring 2009 $5-$9 - $3-$8 - - -
Fall 2009 $5-$18 - $3-$5 - $450 98
Spring 2010 $6-$15 - $3 - - -
Fall 2010 $4-$12 - $2 $6 - -
$225 95 - - - -
Spring 2011 $4-$13 - $2-$7 $1-$2 - -
Fall 2011 $4-$29 - $3 $2-$4 - -
2012 $2-$80 - $1-$21 - $350 95
2013 - - - - - -
2014 - - - - - -
2015 - - - - - -
2016 - - - - - -
2017 - - - - - -
2018 - - - - - -


2c - Carmine rose or carmine - Type III
Rotary press - Perf. 11 - imperforate horizontally
Unwatermarked - Scott #540a - 1919

  NY Auction Houses
  MNH MH Used MNH Graded
Fall 2009 - - - $50 -
Spring 2010 - - - - -
Fall 2010 - $11-$25 - - -
Spring 2011 $45 $13 - - -
Fall 2011 $26-$50 - $30 - -
2012 $19-$45 $12-$30 - - -
2013 - - - - -
2014 - - - - -
2015 - - - - -
2016 - - - - -
2017 - - - - -
2018 - - - - -



2c - Carmine rose or carmine - Type III
Less than 25 pairs exist
Rotary press - Perf. 11 - imperforate vertically
Unwatermarked - Scott #540b - 1919

  NY Auction Houses
  MNH Graded
Spring 2006 $2,400 -
Fall 2006 - -
Spring 2007 - -
Fall 2007 - -
Spring 2008 - -
Fall 2008 - -
Spring 2009 - -
Fall 2009 - -
Spring 2010 - -
Fall 2010 - -
Spring 2011 - -
Fall 2011 - -
2012 - -
2013 - -
2014 - -
2015 - -
2016 - -
2017 - -
2018 - -


3c - Violet - Type II
The top of the toga rope is strong and the rope lines are
heavy and complete. The line between the lips is heavy.

Rotary press - Perf. 11 x 10 - Unwatermarked - Scott #541 - 1919
Most stamps are off center

  NY Auction Houses
  MNH MH Graded Used MNH Graded
Spring 2005 - - - - $450 -
Fall 2005 - - - - - -
Spring 2006 $15 $9-$26 - $10 $550 95
Fall 2006 $35-$50 $8-$14 - $4-$14 $575 95
- - - - $2,200 98
Spring 2007 $23-$90 $12-$20 - $14 - -
Fall 2007 $25-$50 $6-$22 - - - -
Spring 2008 $25-$50 $4 - $26 - -
Fall 2008 - $10-$20 - $7 $290 90
Spring 2009 $29-$65 $9-$11 - - $900 95
Fall 2009 - $9-$21 - $8 $500 95
Spring 2010 $50-$95 $16-$24 - $6-$7 - -
Fall 2010 $28 $12 - $3-$19 - -
- $18 75 - - -
Spring 2011 $30-$120 $9-$20 - - $500 95
Fall 2011 $35-$50 $8-$16 - - - -
2012 $20-$80 $6-$50 - $6-$15 $105 85
- - - - $350-$550 95
2013 - - - - - -
2014 - - - - - -
2015 - - - - - -
2016 - - - - - -
2017 - - - - - -
2018 - - - - - -



1c - Green or bluish green
Rotary press - Perf. 10 x 11 (19 x 22 ½mm)
Unwatermarked - Scott #542 - 1920
Most stamps are off center

  NY Auction Houses
  MNH Graded MH Used MNH Graded
Spring 2006 $5-$16 - $1-$2 - $1,050 98
Fall 2006 $3-$10 - - - $150 90
Spring 2007 $3-$60 - $1-$2 - $1,100 98
Fall 2007 $4-$8 - $1 - $325 95
Spring 2008 $5-$35 - < $1 - - -
Fall 2008 $3-$9 - $1-$2 - - -
Spring 2009 $4-$11 - $3-$6 - - -
Fall 2009 $6-$26 - $2 <$1 - -
Spring 2010 $7-$22 - $2 <$1 $50 90
Fall 2010 $6-$11 - $1-$7 $1-$3 - -
Spring 2011 $5-$22 - $3-$14 $1-$4 - -
Fall 2011 $5-$35 - - - - -
$50 90 $1-$8 - - -
2012 $5-$30 - $2-$9 $1-$3 - -
2013 - - - - - -
2014 - - - - - -
2015 - - - - - -
2016 - - - - - -
2017 - - - - - -
2018 - - - - - -



1c - Green or deep green
Rotary press - Perf. 10 (19 x 22 ½mm)
Unwatermarked - Scott #543 - 1921

  NY Auction Houses
  MNH Graded MH MNH Graded
Spring 2006 $5 - $1-$2 - -
Fall 2006 $6-$27 - $1 - -
Spring 2007 $3-$21 - - - -
Fall 2007 $1-$8 - < $1 - -
Spring 2008 $1-$11 - < $1 - -
Fall 2008 $1-$5 - - $170 98
$3 80 $1 - -
Spring 2009 $1-$8 - $1 - -
$135 98 - - -
Fall 2009 $4-$9 - < $1 $200 95J
Spring 2010 $1-$7 - < $1 - -
Fall 2010 $2 - $1 - -
$14 90 - - -
Spring 2011 $1-$2 - $1-$2 - -
Fall 2011 $1-$5 - - - -
$130 98 $1-$2 - -
2012 $1-$7 - $1-$2 - -
2013 - - - - -
2014 - - - - -
2015 - - - - -
2016 - - - - -
2017 - - - - -
2018 - - - - -

Cancelled stamps are worth $1


1c - Green
Rotary press - Perf. 10 (19 x 22 ½mm)
Imperforate Between
Unwatermarked - Scott #543a - 1921

Fall 2009 Auction - MH - $8,500

1c - Green
Rotary press sheet waste - Perf. 11 (19 x 22 ½mm)
Unwatermarked - Scott #544 - 1922
Less than 100 exist, of which less than 20 are mint
Most stamps are off center. Certificate required.

  NY Auction Houses
  MNH Graded MH Graded Used
Spring 2005 - - - - $4,000-$5,000
Fall 2005 - - - - $3,250
Spring 2006 - - - - -
Fall 2006 - - - - $5,250
Spring 2007 $80,000 - - - -
Fall 2007 - - - - -
Spring 2008 - - - - $3,000-$5,500
Fall 2008 - - - - -
Spring 2009 $52,500 75 $7,500 (ng) 70 -
Fall 2009 - - - - $950-$3,750
Spring 2010 - - - - $1,700-$4,500
Fall 2010 $18,000 - - - $850-$3,000
Spring 2011 - - - - $1,050-$1,700
Fall 2011 - - - - $1,600-$2,500
2012 - - $10,500 - $4,500
2013 - - - - -
2014 - - - - -
2015 - - - - -
2016 - - - - -
2017 - - - - -
2018 - - - - -


1c - Green or yellowish green
Rotary press coil waste - Perf. 11 (19 x 20-22 mm)
Unwatermarked - Scott #545 - 1921
Most stamps are off center
Certificate Required

  NY Auction Houses
  MNH MH Graded Used MNH Graded MH Graded
Spring 2006 $35-$375 $23-$25 - $85 $14,000 98J - -
Fall 2006 - - - - - - - -
Spring 2007 $175 $60 - - $8,500 95J - -
Fall 2007 $55-$75 - - - - - $375 95
Spring 2008 $120 $85 - $120 $2,600-$3,250 95 - -
Fall 2008 - $90 - - $15,000 98J - -
Spring 2009 - $45-$70 - - $1,800 95 - -
Fall 2009 $140 $35-$40 - $45-$55 $24,000 - - -
Spring 2010 - $40-$200 - - $2,600 95J - -
Fall 2009 - - - - - - - -
Spring 2010 - - - - - - - -
Fall 2010 $150 $90 - $40 - - $375 95
- $370 95 - - - - -
Spring 2011 - $55-$110 - - $450 - - -
Fall 2011 - $105 - - - - - -
2012 $95-$280 $20-$100 - - $725 90 - -
2013 - - - - - - - -
2014 - - - - - - - -
2015 - - - - - - - -
2016 - - - - - - - -
2017 - - - - - - - -
2018 - - - - - - - -


2c -Carmine rose or deep carmine rose - Type III
There are two shading lines in the first curve of the ribbon above the left "2"
and in the second curve of the ribbon above the right "2"
Shading of toga button is heavy.
Rotary press coil waste - Perf. 11 (19 x 20.5-22 mm)*
Unwatermarked - Scott #546 - 1921
Most stamps are off center

  NY Auction Houses
  MNH MH Graded Used MNH Graded
Spring 2005 - - - - $300 -
Fall 2005 - - - - $500 -
Spring 2006 $400 $50 - $10 $2,000 95
Fall 2006 - $13-$20 - - - -
Spring 2007 $35-$55 $15-$35 - $120 $2,600 95
Fall 2007 - $35 - - $3,250 95J
Spring 2008 $70-$80 $40 - - - -
Fall 2008 - $26-$35 - $21-$45 $280 85
- - - - $500 90
- - - - $550 90J
Spring 2009 - $23-$60 - - $150 -
Fall 2009 - $17-$35 - $13 $250 85
- - - - $200 95J
Spring 2010 $150 $30-$40 - - $425 90
Fall 2010 $60 $20-$30 - - - -
- $125 90 - - -
Spring 2011 - $35-$125 - $17-$22 - -
Fall 2011 - $30-$60 - $15-$45 $275 85
- - - - $400 90
2012 $65-$200 $28-$65 - $15-$65 - -
2013 - - - - - -
2014 - - - - - -
2015 - - - - - -
2016 - - - - - -
2017 - - - - - -
2018 - - - - - -

* Beware of faked versions of this stamp. Often #540 has been reperfed
making it narrow, the width of this stamp should be 20.5mm or greater.

546a
2c -Carmine rose or deep carmine rose - Type III
There are two shading lines in the first curve of the ribbon above the left "2"
and in the second curve of the ribbon above the right "2"
Shading of toga button is heavy.
Rotary press coil waste - Perf. 11, perf 10 one side (19 x 20.5-22 mm)*
Unwatermarked - Scott #546a - 1921
2013 Auction - used - $15,500
Only six examples exist


$2 - Carmine and black
Flat plate - Perf. 11 - Unwatermarked - Scott #547 - 1920

  NY Auction Houses
  MNH Graded MH Graded Used MNH Graded
Spring 2005 - - - - - $350 -
Fall 2005 - - - - - $525-$950 -
Spring 2006 $130-$180 - $40-$75 - $10-$30 $500 90
Fall 2006 $600 90 $35-$75 - $7-$25 $3,750 98
- - - - - $1,150 95
- - - - - $600 90
Spring 2007 - - $90 - $7-$25 - -
Fall 2007 $160-$365 - $135 - $5-$26 $1,050 95
Spring 2008 $150-$180 - $105-$145 - $6-$30 $260 85
- - $305 90 - - -
Fall 2008 - - - - $7-$21 $250-$300 85
- - - - - $475 90
- - - - - $1,300 95
Spring 2009 $130-$260 - $45-$70 - $6-$15 $475-$500 95
$380 90 - - - - -
Fall 2009 $80-$120 - $65-$80 - $5-$21 $250 90
$690 95 - - - $500 95
Spring 2010 - - $75-$115 - $6-$21 $250 90
Fall 2010 $130-$140 - $70-$110 - $10-$35 $300 90
- - $80 80 - $525-$750 95
- - - - - $2,400 98
Spring 2011 $130-$185 - $65-$80 - $6-$25 $450 95
Fall 2011 $160 - $60-$140 - $5-$45 $240 85
2012 $130-$255 - $45-$150 - $5-$45 $300 85
- - - - - $425 95
- - - - - $1,900 98
2013 - - - - - - -
2014 - - - - - - -
2015 - - - - - - -
2016 - - - - - - -
2017 - - - - - - -
2018 - - - - - - -


$2 - Lake and black
Flat plate - Perf. 11 - Unwatermarked - Scott #547a - 1920

  NY Auction Houses
  MNH MH Used MNH Graded
Fall 2005 - - - $280 -
Spring 2006 $100 - - $2,900 95
Fall 2006 $100 - - $4,000 95
Spring 2007 - - $8-$20 - -
Fall 2007 - - - - -
Spring 2008 - $100 $6-$27 - -
Fall 2008 - - $10-$55 $350 90
Spring 2009 - - $5-$25 $1,600 95
Fall 2009 - - $6 $1,400 95
Spring 2010 - - - $2,200 95
- - - $3,000 95J
Fall 2010 - - - - -
Spring 2011 - - $4-$11 $950 95
Fall 2011 - - - - -
2012 - $150-$180 $6 $1,300 95
2013 - - - - -
2014 - - - - -
2015 - - - - -
2016 - - - - -
2017 - - - - -
2018 - - - - -


1c - Green or dark green
140,000,000 - Perf. 11 - Unwatermarked - Scott #548 - 1920

  NY Auction Houses
  MNH Graded MNH Graded
Spring 2006 $3-$7 - $260 95
Fall 2006 $2-$3 - $1,050 98J
Spring 2007 $4-$55 - - -
Fall 2007 $1-$2 - - -
Spring 2008 $2-$6 - - -
Fall 2008 $1-$5 - $180 95J
Spring 2009 $2-$6 - $130 95J
Fall 2009 $1-$3 - - -
Spring 2010 $2-$11 - - -
Fall 2010 $2-$6 - - -
$370 98 - -
Spring 2011 $3-$18 - - -
$55 90 - -
Fall 2011 $3-$8 - - -
2012 $2-$16 - - -
2013 - - - -
2013 - - - -
2014 - - - -
2015 - - - -
2016 - - - -
2017 - - - -
2018 - - - -

Cancelled stamps are worth less than $1
Mint Hinged stamps are worth $1-$2


2c - Carmine rose or carmine
200,000,000 - Perf. 11 - Unwatermarked - Scott #549 - 1920

  NY Auction Houses
  MNH Graded MNH Graded
Spring 2006 $4-$9 - $525 95J
Fall 2006 $2-$3 - $550 95J
Spring 2007 $1-$8 - - -
Fall 2007 $1-$3 - - -
Spring 2008 $1-$9 - $210 95
Fall 2008 $1-$7 - $1,600 98
Spring 2009 $3-$5 - - -
Fall 2009 $2-$7 - - -
Spring 2010 $2-$10 - $400 98
Fall 2010 $3-$5 - $210 95J
$160 95 - -
Spring 2011 $2-$16 - - -
Fall 2011 $3-$10 - - -
2012 $3-$9 - $140 95
$35 90 $1,300 98J
2013 - - - -
2013 - - - -
2014 - - - -
2015 - - - -
2016 - - - -
2017 - - - -
2018 - - - -

Cancelled stamps are worth less than $1
Mint Hinged stamps are worth $1-$2



5c - Deep blue or dark blue
11,000,000 - Perf. 11 - Unwatermarked - Scott #550 - 1920

  NY Auction Houses
  MNH Graded MH Used MNH Graded
Spring 2006 $7-$19 - $6-$11 $1-$4 $725 95
Fall 2006 $4-$15 - $4 $1-$5 $140 85
- - - - $1,400 95J
Spring 2007 $240 90 $4-$19 $1 - -
Fall 2007 $16-$25 - $3-$11 $1-$2 $650 95
- - - - $5,500 98J
Spring 2008 $15-$45 - $7-$14 $1-$5 $1,100 95J
Fall 2008 $20-$75 - $6-$12 $1-$2 $650 95J
- - - - $2,100 98
Spring 2009 $10-$30 - $4-$8 $1 - -
Fall 2009 $12-$20 - $5-$8 $1-$2 $1,400 98
Spring 2010 $12-$55 - $6-$9 $1-$3 - -
Fall 2010 $10-$40 - $6-$9 $1-$4 $170 95
$16 75 - - - -
Spring 2011 $14-$55 - $6-$18 $1-$4 $190-$325 95
- - - - $950 98
Fall 2011 $10-$30 - $7-$12 $1-$4 $260-$300 95
- - - - $1,000 98
- - - - $4,500-$5,250 100
2012 $10-$50 - $3-$9 $1-$5 $2,700 100
  $95 90 - - - -
2013 - - - - - -
2013 - - - - - -
2014 - - - - - -
2015 - - - - - -
2016 - - - - - -
2017 - - - - - -
2018 - - - - - -