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EXTREMELY FINE. AN OUTSTANDING EXAMPLE OF THE 1894 $5.00 UNWATERMARKED BUREAU ISSUE. A BEAUTIFUL STAMP, OF WHICH A MERE 25,000 WERE ISSUED.
The 1894 Unwatermarked issue was the first U.S. postage issue to be printed by the Bureau of Engraving & Printing, after the contract with American Bank Note Co. expired. The first stamps printed by the Bureau are notoriously difficult to find well-centered, as production was marred by initial problems as they geared up to meet the needs of the public for stamps.
With 1995 P.F. certificate. (Image)