1938, $1 Woodrow Wilson, Purple & Black, USIR Watermark, US (Scott #832b)

This stamp is part of the Presidential Issue of 1938, colloquially known by philatelists as the "Prexies." This definitive series was designed to replace the Fourth Bureau Issue and features portraits of the first 29 U.S. Presidents. The 1-dollar denomination honors the 28th President, Woodrow Wilson.

This is a rare and significant specimen of the Presidential Series, specifically the Scott #832b variety. The defining characteristic of this variety is that it was mistakenly printed on paper intended for revenue stamps, which bears the "USIR" (U.S. Internal Revenue) watermark. While the standard $1 Prexie is common, this "watermark error" was not discovered until 1954 and remains a prize for specialized collectors. Due to the presence of the confirmed watermark and the generally sound condition of the paper, this copy holds substantial philatelic value compared to the standard issue.

Technical Specifications:

• Catalog Number: Scott #832b.

• Denomination: 1 Dollar ($1).

• Release Date: Circa 1951 (Error first identified in 1954).

• Printing Method: Flat Plate.

• Watermark: USIR (U.S. Internal Revenue).

• Perforation: 11.

• Color: Purple & Black.

• Subject: Portrait of Woodrow Wilson, based on a Presidential medal by the U.S. Mint.

Condition Analysis:

• Status: Used. The stamp bears a black wavy-line machine cancellation that crosses the right side of the portrait. The ink is well-pigmented and consistent with period postal use.

• Centering: Fine-Very Fine (F-VF). The design is slightly shifted toward the left margin. However, the margins are generous on all sides, and the perforations do not encroach upon the design frame, which is favorable for this high-value variety.

• Reverse Side: Used copy, no gum. The confirmation of the "USIR" watermark is the critical factor for this classification. The paper appears healthy with no obvious thins, creases, or tears visible in the provided imagery.

• Perforations: Generally intact and well-defined. There is minor "shagginess" typical of the flat plate printing and manual separation process of the era.