Looks like JB -- there was a glare so that's why the wonky picture.

It is JP -- here is a better picture. It is 10 x 11 -- almost square.

You can tell it is a J and a P from the alphabet above. It's also worked in different color threads.

Hmm....size and shape says old ( or a good copy of an old one) but the faded colors of some of the letters and numbers also speaks to 19th century, and having been done over a period of months with different colored and types of threads.
But the sharp and bright color of the name and initials? Why? What do those initials mean? Are they the initials of the person who recreated an old sampler?
What does the fabric look like? Homespun? Can you get into it? Well at any case you should take it apart if it's 100 years old or 200 years....to see that it's not framed with anything that would cause deterioration....and when you put it back together, get some anti UV glass to put in front.
Post again when you see what's inside.

I need to take pictures of my samplers and post.

Oh, Linda please do. I would love to see them. I read somewhere that some colors or types (like red and or silk) faded less than other colors which could be the J and P. But also in the 20s Colonial style was popular again which would mean Colonial things like samplers and quilts might also be made.

The fabric will tell the story.

and yes different dyes fade differently and also cause the fabric to deteriorate in a different way...notice in old quilts any black is often rotted out.

In looking at the fabric through the glass it is not "fine" meaning that you can see the weave -- it definitely looks different than anything "new" I've seen and indeed not just the color of the fabric which is beige but the fact that the weave is a bit "rustic".

There is a Sharon Connecticut, so perhaps it's as it reads: Sharon Connecticut Chafee Inst

I cannot find a Chafee Inst. in Sharon Connecticut although there is a Loomis Chaffee (different spelling) Inst near there. I have emailed the Sharon Connecticut Historical Society. If it is an old one perhaps the Inst is no longer!

Wondering if it has any connection to Chafee, Arkansas. It is near Ft. Smith and used to be a center of education for girls.

No -- Chaffee, Arkansas has two "f's". And Arkansas didn't become a state until 1836.

Okay, I found a sampler seller on line and so I sent her a picture of the sampler and asked if it was old or a reproduction --

Here is what she said:

It is old, a marking sampler. It was made in Sharon, Connecticut and J Chaffee is the instructress. J P probably the maker.

So, I spent way too much time look for a Chafee Institution when it was the person teaching JP to do the sampler!!!!

Oh, and she said that the frame was newer (which I knew).

So the mystery is solved.