I'll take a stab at this.
E97 B&W are many times rarer than E97 color. Per subject in E97 B&W I would not be surprised if there are fewer than 10 surviving.
You are right - E97 B&W are almost always found in rougher shape. An example in VG (or better) is a great find.
Nobody seems to know how (or whether) these were distributed. There is not even agreement on whether these are more likely to have been proofs or a separate issue altogether.
One observation I have made that seems to favour the "proofs" side of things is that I've never seen a "corrected" E97 B&W. For each variation in E97 color (caused by a later change to correct info on the card) I have only ever seen the first version in B&W. I've never seen a corrected B&W, and I doubt they exist.
Cheers,
Blair
Last edited by Bosox Blair; 07-27-2011 at 04:13 PM.
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