The 1893 Columbians

The Value of the Stamp



$5 - Black or grayish black
Scott #245

 
NY Auction Houses
 
MNH
MH
Graded
Used
MNH
Graded
MH
Graded
Used
Graded
Spring 2004
-
-
-
$350-$400
$5,000
-
-
-
-
-
Fall 2004
-
$1,400-$1,650
-
$425-$500
$2,700
-
-
-
-
-
Spring 2005
-
$1,000-$1,300
-
-
$8,500
-
-
-
-
-
Fall 2005
-
$1,325
-
-
$8,500
-
-
-
-
-
Spring 2006
-
$925-$2,750
-
$550
-
-
$13,000
95J
-
-
Fall 2006
$2,750
-
-
$375
$10,500
85
$5,000
90
-
-
-
-
-
-
-
-
$9,500
95
-
-
Spring 2007
-
$1,200-$4,000
90
$600
$6,500
-
$3,375-$4,000
90
-
-
Fall 2007
-
$895-$1,150
-
$450
$8,000
80
$3,250
90
-
-
-
-
-
-
-
-
$5,000
90J
-
-
-
-
-
-
-
-
$7,500-$9,500
95
-
-
Spring 2008
$1,775-$3,000
$760-$1,275
-
$455-$520
-
-
-
-
-
-
Fall 2008
$1,800
$550-$900
-
$365-$440
-
-
$2,500
85
$1,700
85
-
$840
70
-
-
-
-
-
-
-
Spring 2009
-
$850
-
$425-$430
$2,200
70
$1,400
80
$4,250
85
-
-
-
-
$6,000
80
$2,000
85
$1,600
90
-
-
-
-
-
-
$2,400
90
-
-
-
-
-
-
-
-
$5,500
95
-
-
Fall 2009
-
$630-$1,100
-
$535-$550
-
-
$3,000
90
$9,000
95
-
-
-
-
-
-
$5,000
95
-
-
-
-
-
-
-
-
$6,500
95J
-
-
-
-
-
-
-
-
$8,250
98
-
-
Spring 2010
-
$715-$800
-
$550-$900
$8,750
80
-
-
-
-
Fall 2010
$1,790
$2,100
-
$430-$900
$80,000-$92,000
95
$5,500-$7,500
95
$7,000
95
Spring 2011
-
$600-$825
-
$510
-
-
$3,000
90
$1,850
90
-
-
-
-
-
-
$14,950
98
$4,315
95
Fall 2011
-
$895-$1,400
-
-
-
-
$3,250
90
$3,000
95
-
-
-
-
-
-
$4,500
95
-
-
Spring 2012
-
-
-
-
-
-
-
-
-
-
Fall 2012
-
-
-
-
-
-
-
-
-
-
Spring 2013
-
-
-
-
-
-
-
-
-
-
Fall 2013
-
-
-
-
-
-
-
-
-
-
Spring 2014
-
-
-
-
-
-
-
-
-
-

A quote from "The Stamp Collector" magazine in 1920

"That the Postal Department made a great profit from this issue is more than probable. The stamps were bought in huge numbers by speculators and held for a rise which did not mature. Consequently, the various values, especially the high ones, are frequently offered for sale in a mint condition under face value. As an investment, none should be considered when unused."

Statistics


Issued: Jan 2nd 1893, earliest date of use is January 6th 1893, shown below.


Earliest date of use January 6th

Plate Size: Sheets of 100 subjects (2 panes of 50)

Printer: The American Bank Note Company, thereafter, with one exception of the Overun stamps of 1943 all stamps have ssince been printed by the Bureau of Engraving

Watermark: None

Quantity Issued: 27,350 (of which 21,844 were sold)

Interesting Fact: At the time, there was no $5 postal rate and as such the stamp was pointless. It was commonly believed that the stamp was issued for collectors to acquire. This resulted in a huge hue and cry from the stamp collectors, most of whom could not afford the princely sum of $5 to buy this stamp, and thought that the post office was trying to wring money from them. This protest became even louder when the USPS did the same thing with the Trans-Mississippi series and issued a $2 value.

In the end the stamp sold very well and the price tripled very quickly based on speculation. As in all speculation, what comes up comes down and by 1895 they were being dumped, even at prices below face. One side effect of this dumping is that it depressed the demand for the $5 bureau issued this year, making this stamp far more scarce than the $5 Columbian.

The Inspiration for the Design


The source for the design was the 1892-1893 Columbian Exposition Half Dollar designed by Olin L. Warner who based his design off a medal that had been struck in Madrid.

What you should look for


As with all the values of this issue, look for Columbia Expo cancels or on a Columbian Expo cover, they marginaly increase value. Any stamp is more desirable with a clean cancel, preferably a town cancel, heavy cancels can detract from the value and are common on this value.

Occasionaly postmarks from states that had tiny amounts of mail in this year can add to the value. This is particularly true of Alaska and the Territories. For a list of the number of stamps issued by each state in the year ending 30th June 1894 click here.

Varieties to look for


The color ranges from grayish black to black. The stamps is not prone to fading. There are the occassional double transfers.

245 Exposition US Postage stamps

Any Columbian stamp with an exposition cancel
carries a substantial price premium. None more so
than #245. There is only one example, last sold
at auction for $5,000

The Essay's and Proofs



Photos mounted either side of vignette
Thick white card

Large Die Proof (252P1)
die sunk on 226 x 150mm card

Plate Proof on India (245P2)

245 P3
India plate proof on thin card

245-P4 US stamp proof

245 P4
India plate proof on card block


In 1993, on the 100th anniv. of the Columbian stamp
the post office issued a Commemorative Stamp Panel
for all the demoniations, the $5 panel is shown above



 

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