#276 1895 $1 Type I Watermarked

Basic Information

Color: Black
Subject: Commodore Perry
Type: I
Watermark: Watermarked double-lined USPS
Paper: Soft porous paper
Printing method: line-engraved intaglio on flat plates
Printer: The Bureau of Printing and Engraving
Perforations: 12
Scott #: 276
Quantity issued: 192,449
Issued: August 12th, 1895

Value

An unused stamp with perfect gum: $225-$500
An unused stamp with gum and a hinge mark: $100-$175
A used stamp: $25-$55

About the small bank note stamps

An essay for the $1 value. #261E7

The 1894 Series, known as the "First Bureau Issue," marked the first time the U.S. government printed its own postage stamps, ending the 47-year monopoly of private contractors. Produced by the Bureau of Engraving and Printing (BEP), this series used existing designs but introduced small, unique "triangles" in the corners of the stamps to distinguish them from earlier American Bank Note Company issues.

The BEP, which had been established in 1862, successfully bid for the contract to print postage stamps, overcoming intense opposition from private firms that claimed the government was incapable of the work. The BEP reused the 1890–1893 stamp dies. The most defining feature of this series is the addition of small triangles in the upper corners of the designs.

The Bureau of Engraving and Printing introduced the watermarked paper—which featured the letters "USPS" (United States Postage Stamp) in double-lined letters—shortly after discovering counterfeits of the 2-cent stamp. The counterfeits were lithographed and as such were easily identified, however the appearance of counterfeits must have spooked the Bureau.

Type I vs Type II

#261 is typeI

#261A is type II

Usage

#276 on cover

#2761 was used infrequently on heavy parcels or overweight letters to foreign destinations, which meant heavy cancels. Clean or light cancels add a premium to the value.

Plates

#276 was issued with the following plate #'s

200 subject plates
76

Identifying the Watermark

The double lined USPS watermark

Between 1895 and 1916 the U.S. government used two different watermarks, double line and single line with the letters "USPS".

By placing the watermark face down on a dark surface or holding it up to bright light you might be able to see the watermark. If you cannot see the watermark it might be a good idea to invest in watermark fluid and a watermark tray. Ronsons lighter fluid works just as well as watermark fluid. Both fluids evaporate quickly.

Pour a little fluid in the tray, lay the stamp face down. In a few seconds the stamp will absorb the fluid and reveal the watermark to you.

As you will see from the illustrations the letters can span several stamps, so on the watermark, for instance, you can see only part of the letter S in one corner and only part the letter P in the other corner.

The Inspiration for the Design

Perry source statue by Thomas Walcott

The old 90 cents gave way to a new $1, the profile of Perry being transferred to the new value

The two new 1894 values, the 50¢ and the $1 did not have new engravings of presidential heads, they just recycled the 1870 engravings.

The original 1870 design of Perry was based on Walcotts bust, of which I am unable to find an image.