what is the content of Thumbnail #1 – just a filename “myfile.jpg” or a full URL? most likely the issue is getting the full file path specified correctly.
In your browser menu, on the View menu, click View Source. That is the HTML the browser is executing when displaying your page. Find the URL’s of the two images in the source code, the thumbnail and the full sized image. If the URL’s start with https://, copy them from the source code and paste them into the browser address bar (one at a time). If the URL is valid you should see the image displayed in the browser when you hit ENTER on the browser address bar. If you don’t see the image (get a 404 page) you are specifying the wrong file path and this needs to be corrected.
this <img src="<?php echo get_post_meta($post->ID, "Thumbnail #1", true);?>" />
is not going to be enough if all it contains is the filename “myfile.jpg” because there is no indication of what folder that image is stored in. The same will be true for the full sized image.
If you are uploading these images using the WordPress media system, the default is that each month a new folder is created under /uploads/ which is not going to work conveniently when you are working with thumbnails in a system like you are creating. If you are using the media uploader and don’t have a large # of images each month on your site, I’d suggest turning off the “Organize my uploads into month- and year-based folders” on the Admin / Settings / Misc page. Then your standard image file location in your tenplates can be
<img src="<?php bloginfo('url'); ?>/wp-content/uploads/myfile.jpg" alt="" />
and the corresponding to the href in the link to the larger image.
<?php bloginfo('url'); ?>
equates to the root folder of your WordPress installation.