Encased Postage Stamps
“AYER’S SARSAPARILLA” Four Known!
EP-137, HB-40, S-18, Reed-AS12MD. Twelve Cents. AYER’S SARSAPARILLA, Medium “AYER’S.” Choice About Uncirculated.
Rated as Rarity-8 (5 to 10 known) according to Fred Reed. It is our opinion that Reed may have, in fact, been too generous in his estimation of that population, as this cataloger estimates it is more likely a Rarity-9 with perhaps only 4 known. This specimen is just the third EP-137 we have offered in 35 years. It has been suggested that it is the Arnold Perl specimen, from Stack's December 1969 sale of that important collection. The only two other examples known to this cataloger is a single example sold in the Stack’s, John J. Ford Jr. Collection Sale, Lot 382 which sold for $4,830. A second piece, sold in our EAHA Auction, June 2005, Lot 1064 brought $5,100. and in October 21, 2006 we sold Lot 588, graded EF for $5,900.

This current example compares most favorably and is among the Finest known, while the Ford example, also graded AU, had some traces of light Silvering still present. The black George Washington 12¢ stamp is perfectly centered. “US POSTAGE” and “TWELVE CENTS” are in the clear and fully readable. The mica remains very clear and unbroken, having just some light friction from modest circulation. The case is completely original, perfectly sealed, clean smooth and defect-free. The reverse case legends are sharp with the overall color a natural, medium chestnut and some traces of luster highlighting some letters. An important opportunity for Encased Postage Stamp specialists to acquire such a major rarity as the overall eye appeal of this specimen is exceptional.