Fr. 1286. 25 Cent. Second Issue. PMG Choice Uncirculated 64 EPQ.Inverted "S" surcharge. A top caliber example with a lengthy provenance. The first record we can find of this is from a Robert Siegel sale sometime prior to 1993. We sold this same note in our September 1993 sale as lot 1248. We noted that this variety was unknown to Valentine (1924) and was first illustrated by Matt Rothert. Dr. Scheuermann bought it and then it sold in 2001 when his collection was offered by the old CAA. It then sold in 2003 for $1,150 and now sells again this year. The inverted "S" is actually far more common on Second Issue Experimental notes than it is on regularly issued pieces. This is the only example we have seen sold in the past few years and is one of the finest known.
