Scotts #262 US stamps

#262 - 1894 Unwatermarked $2

$2
Bright blue

Subject: James Madison
Number issued: 10,027 (50 sheets of 200)
Perforations: 12
Watermark: Unwatermarked
Scott #: 262
Issued: December 10th, 1894

Value

Used
$100 - $225
No postmark with gum (MH)
$300 - $500
Full perfect gum, no postmark
no trace of stamp hinge mark (MNH)
$5,000 - $7,000

A rare cover, with a light cancel and a rare town cancel

Centering

#262 has the common problem of being poorly centered.

Plate #'s

#262 was issued with the following plate #'s

84

Inspiration for the Design

The source for the design was based on Gilbert Stuart's portrait of James Madison.

Multiples

Multiples of this stamp, because of its high value are rare and command high prices

Cancels

By far the most common cancel is the double oval Registry cancel and features highly. This is because it was primarily used for registered bank mail. Registry cancels are bold, usually cover most of the stamp and are not that attractive. Lightly cancelled command a premium as do the rare example with a town cancel.