Rare Fr. 1310a 14 Perforations

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Fractional Currency

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Fr. 1310a 50c First Issue
Grade: PCGS Ch. New 63 PPQ    

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Perforated 14 refers to the number of perforations per 20 millimeters of edge length. The normal perforations on all other First Issue Fractional notes are slightly larger: perf. 12, or 12 perforations per 20 millimeters of edge length. The generally accepted history of these smaller perforated notes is that they were produced from two sheets by dealer Harlan P. Smith circa 1890. Although there is no documentary evidence, there is considerable circumstantial evidence that Smith perforated these sheets himself. As this variety was listed by Blake, Valentine, Limpert and Rothert as genuine, it remains highly desirable and collectable in spite of its possible private perforation. It's from the upper right corner--one of the only two sheets produced with wide selvage outside of the perforations at the top and left. This has never appeared in auction and may well be the finest extant. This is the first one I have handled, and thanks to Len Glazer for the information on its history.

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