(R133) 1871 $500 red orange, green & black Second Issue “Large Persian Rug” revenue stamp bearing deep, vibrant colors and a light, unobtrusive manuscript pen cancel at center. A light horizontal crease is noted, but the overall visual presentation is v.f. The vast majority of known $500 Second Issue stamps exhibit cut cancels, significant faults, or have been altered through repairs or reperforation. The example offered here is exceptional in comparison. A desirable and elusive high-denomination revenue, rarely found in such attractive condition (produced by the Joseph R. Carpenter firm in Philadelphia, the $500 "Large Persian Rug" was part of the ornate Second Issue revenue series, created specifically to combat counterfeiting of the simpler, single-color First Issue. This striking tricolored design, engraved in red orange, green and black, was not only visually impressive but technologically unprecedented: it was the first tricolored engraved stamp issued anywhere in the world. Intended for exceptionally high-value transactions, such as deeds over $500,000 or estates exceeding $1 million, only 400 examples were printed, with 210 used between 1871 and 1877. Today, an estimated 80 to 90 survive in any condition, making this one of the rarest and most visually iconic stamps in American philately. Recorded in Kingsley''s Persian Rug Census as 6-2), ex-Colonel Green Collection, with 2025 PFC (cat. $17,500 for an example with a cut cancel or with minor faults)
