Encased Postage Stamps
Five Cents "B. F. Miles" Peoria, Illinois Exceptionally Rare & Elusive "Key" Merchant Type Required to Complete the entire Thirty-Four Individual Merchant Type Set
EP-86, HB-183, S-135, Reed-MI05. Five Cents, B. F. MILES, Peoria, IL, Very Fine / Extremely Fine.
Rated as Rarity-8 (5 to 10 known) According to Fred Reed, yet since that time some additional examples have appeared, not yet verified by the current cataloger. More importantly, for the entire issue, only these ten or so 5 examples, and only two 1 examples, are thought to exist for the entire issue. Miles is a controversial Merchant in that some believe this is the rarest of all major "Key" Merchant types required to complete the entire 34 Merchant Set of Encased Postage Stamps. This cataloger holds that the Claflin merchant type is more difficult to attain and that B. F. Miles is a close second. In any event, this critical Merchant type is extremely elusive. Early American offered a B. F. Miles in 1988 as part of a complete 34 Merchant Type Set. The June 2004 John J. Ford, Jr. Encased Postage Collection auction held only two B.F. Miles examples in his extensive holdings. Those included a single 1, which was graded "About Uncirculated" selling then for $25,300, plus a single 5 graded Extremely Fine which sold for $14, 950. The last similar 5 B. F. Miles which EAHA offered was in our February 14, 2004 auction Lot 676, grading Very Fine selling then at $13,800. Previously, we've offered only two other examples -- an Extremely Fine in our March 1998 sale Lot 405 which sold at $9,200; and a Choice Extremely Fine in our October 1999 EAHA Auction Lot 489 selling at $14,950 (this current example, now reconsigned for auction). This current example has a rich brown 5 Thomas Jefferson 1861 issue U.S. postage stamp being near perfectly centered. It is viewed through unbroken mica that has some natural laminations primarily near the left moon and lower rim edge. Overall, the piece looks pleasing for the grade and the case looks great. The case itself is a lovely natural medium chestnut in color having sharp clear legends with no other defects or detractions. All of the reverse legends are perfectly clearly readable. This is the Ex: EAHA October 16, 1999 Lot 489 example that brought $14,950 over two decades ago, now reconsigned. Overall, this is a highly desirable example worthy of the most important of collections.