Uncut Sheet of (20) Fr. 1232. 5 Cents. Second Issue. PMG Extremely Fine 40.Complete yet incomplete Second Issue sheet. This "complete" sheet of twenty is the only Second Issue sheet that your cataloger has encountered that was cut down from a larger sheet. It seems like this is a counterintuitive statement but it is absolutely true. Face plate number "232" and back plate number "300" both appear at the bottom of the sheet between the first and second subjects. The correct placement for these plate numbers should be at the intersection of the bottom left four notes. What this means is that there was a fifth row below, thereby making a sheet of 25, not a sheet of 20. If you look in the bottom border you can clearly see below both the second and third note subjects the top pieces of notes from a fifth row. If you look closely at the bottom border on the back of the sheet, you can also see a sliver of the brown back design below the third note subject. The margins are a little close in a couple of spots but not seen with any dramatic trimming which is so often seen. In our ANA sale last year, we sold a PCGS Extremely Fine 45 sheet for over $1,500. This sheet is believed to be unique containing anything more than the normal 20 subjects. An incredibly fascinating sheet for the burgeoning fractional currency collector.
