Lagos SG#8 1/- Pale Dull Orange, Queen Victoria, 1874-1876 Perf. 12.5 Crown CC Watermarked Issue, 1st Printing, A Very Good CDS Used Example With "Shilling" 15.5 mm Long
A well centered and very fine appearing, but VG used example of the 1/- pale dull orange Queen Victoria De La Rue Keyplate stamp from the 1874-1876 Perf. 12.5 Crown CC issue. According to J.F Ince in his definitive work, there were a total of 15,600 stamps issued across 4 different printings between November 18, 1874 and May 13, 1875. This example is from the first printing from November 18, 1874, of which 3,120 stamps were printed. Vertical wove paper showing no clear mesh and watermarked crown CC. This printing has "Shilling" 15.5 mm long and no crossbar to the "G" of "Shilling". Cancelled with a clear strike of Proud D6 Lagos CDS dated March 3, 1875, and with timecode B. This example has a small diagonal crease at lower right and a shallow thin on the back that reduce the grade from VF-79 to VG-59.
Stanley Gibbons values a VF-75 used example at 150 pounds = $300. Fine should be worth about half this value and then VG half again, so that a reasonable value would be approximately $75.
I have written a blog post which explains the differences between the printings, which you can access here.
The stamp offered here grades VG-59 as follows:
Paper freshness: 5/5
Absence of visible paper flaws: 5/5
Adjustment for shallow thin and light crease: -20 points