The subtle feature of this $1 Woodrow Wilson stamp makes it worth the hunt

Tip of the Week — By Henry Gitner and Rick Miller

The United States 1938 Presidential series, known to collectors as “the Prexies,” has long been a favorite with U.S. collectors. The classic designs and historical significance of the Prexies appeal to most involved in the hobby whether they are general U.S. collectors working on one each of all U.S. stamps or specialists searching for single-use or unusual destination covers.

The market for mint or off-cover used single Prexies has been relatively quiet because most present-day collectors have filled those album spaces and moved on.

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An exception is the $1 Woodrow Wilson stamp on paper watermarked “USIR” (Scott 832b). We last tipped this stamp in the Nov. 29, 2010, Stamp Market Tips. It is time to revisit it.

For collectors who don’t already have it, here is your chance to own a major U.S. error. The normal stamp (Scott 832) was printed on unwatermarked paper. The error stamp is on paper watermarked for use by the U.S. Internal Revenue Service.

The Scott Specialized Catalogue of United States Stamps and Covers values the error stamp at $200 in mint never-hinged condition, at $120 in unused hinged condition, and at $65 in used condition.

We think the stamp in mint never-hinged condition is a good buy in the $150-to-$170 price range. Used stamps with attractive cancellations are a good buy at Scott catalog value. Avoid examples with heavy or unappealing cancellations that obliterate the design.