Basic Information
Color: Ultramarine
Subject: Benjamin Franklin
Paper: Hard white wove paper
Printing method: line-engraved intaglio on flat plates
Printer: National Bank Note Co
Perforations: 12
Plate #’s: 16-17, 50-53
Grill: H or I grill (see below)
Scott #: 134 (H grill) 134A (I grill)
Quantity issued: 23,000,000 (estimate)
Issued: April 12th, 1870
Value
An unused stamp with perfect gum: -
An unused stamp with gum and a hinge mark: H grill $650-$1,300 I grill $1,600-$2,250
A used stamp: H grill $17-$25 I grill $350-$400
About the large bank note stamps
A National Bank notes from 1870
Click image to enlarge
"Large Bank Note" stamps refers to a major definitive series of postage stamps issued between 1870 and 1890. They are called "Bank Notes" because they were produced under contract by three private security printing firms—the National, Continental, and American Bank Note Companies—before the Bureau of Engraving and Printing took over production in 1894.
Key Characteristics
Size: They are called "Large" to distinguish them from the "Small Bank Notes" (or "Baby Bank Notes") issued from 1890 to 1894, which were reduced in size to cut production costs.
Paper and Grills: Early issues (National) often feature "grills" (embossed patterns intended to prevent reuse), while later issues moved from hard paper (National and Continental) to soft porous paper (American).
Secret Marks: To identify which company printed which stamp, "secret marks" (tiny design modifications) were often added to the original plates when contracts changed hands.
Historical Timeline
National Bank Note Co. (1870–1873): The original printers who introduced the designs.
Continental Bank Note Co. (1873–1879): Took over the contract and added secret marks to the 1¢ through 15¢ denominations.
American Bank Note Co. (1879–1890): After merging with Continental, they printed the same designs on soft porous paper and later introduced re-engraved versions with slightly modified details.
Grills (H, I and J grills)
H Grill 11-13 x 14-16 points 10 x 12mm
I Grill 10-11 x 10-13 points 8½ x 10mm
Click image to enlarge
The grills as they appear on the stamp
Click image to enlarge
It is common to see only a partial grill
Click image to enlarge
The H grill (#134)
The H grill is often confused with the I grill. If a grill measures roughly 10 x 12 mm, it is generally considered an H grill, while smaller ones are I grills. If an identification cannot be firmly made, the default classification is usually the H grill, as it is generally more common than the I grill
The I grill (#134A)
Used on the National Bank Note Company's 1870 banknote series. It is small, typically measuring 8½ x 10mm with 10 vertical rows. Examples, such as on the 30-cent stamp, are extremely rare
The J grill (#156e)
This is considered a highly rare, often experimental, grill variety. It is characterized by its small size, 7 x 9½mm, and is typically so heavily impressed that the paper fibers often break. They were printed later in 1873 by the Continental Bank Note Company and does not appy to this issue.
Usage
#134 used on a circular in TN
#134 was primarily used for paying the postage on drop letters, circulars, and newspapers/periodicals.
Drop Letters: Letters delivered within the same post office where they were mailed (if not sent to a carrier-delivery office).
Third-Class Mail: Used on circulars, newspapers, and periodicals (often mailed by publishers or news agents).
Multiples: Used in multiples or in combination with other denominations to fulfill higher postage rates, such as advertising matter
Shades of the blue 1¢ and the reasons behind them
The high number of shades found on the US 1¢ Benjamin Franklin "Bank Note" stamps (such as #134) is primarily due to the inconsistent production methods and environmental vulnerabilities of 19th-century printing. Because of this I would advise attempting to identify the large banknote 1¢ stamp by its color. The shade of blue does not affect its value.
While the official colour for these issues is often listed as ultramarine or blue, collectors frequently encounter a vast spectrum ranging from bright to dull hues.
Key Reasons for Shade Variations
Manual Ink Mixing: In the 1870s, inks were mixed by hand in large batches. Small differences in the ratio of pigments, oils, and dryers between print runs led to noticeable shifts in the final shade of blue.
Multiple Printing Companies: The "Bank Note" series was produced by three different companies over nearly two decades: National Bank Note Co. (1870–1873), Continental Bank Note Co. (1873–1879), and American Bank Note Co. (1879 onwards). Each company used its own ink formulas and printing equipment, further diversifying the available shades.
Ink and Paper Sensitivity: The blue pigments used during this era were highly susceptible to environmental changes. Factors such as humidity, temperature in the press room (which affected ink thickness), and exposure to sunlight (fading) have altered the stamps' appearance over the last 150 years.
Chemical Reactions ("Changelings"): Some variations are not original but are "changelings" caused by chemical exposure. For instance, exposure to sulfur or acidic album pages can cause oxidation, turning certain blue or green inks darker or even blackish over time.
The Inspiration for the Design
Benjamin Franklin’s bust by Jean-Antoine Houdon
The design of the orginal 1869 1¢ stamp with this vignette (#112) was inspired by a sculpture of Benjamin Franklin by Jean-Antoine Houdon, which is currently located in the Pennsylvania Academy of Fine Arts in Philadelphia.
It has been much debated whether Franklin actually sat for Houdon or if the sculptor captured his vividly accurate image from mere passing acquaintance. He would have had ample opportunity to observe the American minister at the Masonic lodge of the Nine Sisters to which they, as well as many other artists and patrons in the expatriate community (e.g., Count Stroganov; see Voltaire and Diderot), belonged. This cleanly truncated version, in modern dress, was clearly preferred by contemporary American statesmen and anticipates George Washington's insistence that Houdon's statue of him