1¢ Light green, bluish green, green, dark green
Printing Method: Flat Plate
Subject: George Washington
Number issued: 1,815,000,000
Scott #: 462
Issued: September 27th, 1916
Less than $1
No postmark with gum (MH)
Full perfect gum, no postmark
no trace of stamp hinge mark (MNH)
$3 - $12
#462 was issued with the following plate #'s
7647–52, 54-56, 59, 64-71, 74
7725-27, 31, 33, 36, 41, 43, 49-50, 53-59, 61, 64-65
7831-32, 38, 50, 62-65, 74-79, 83-86, 88-99
7900-03, 05, 07-08
Counting and inspecting stamps before shipment, Bureau of Printing and Engraving, Washington, D. C. 1917
Men stand by a horse-drawn wagon alongside the Bureau of Engraving
A full pane of 100 #462, there were four panes to a sheet
During the World War I questions of economy were paramount and the Bureau finding that unwatermarked paper could be bought at considerable saving specified this for their contracts effective July 1, 1916. On August 22 this new paper was first used.
While these stamps were current, the Bureau of Engraving and Printing made the first experimental precanceled stamps. These were prepared for Augusta, Me., New Orleans, La., and Springfield, Mass.
While these stamps were current, the Bureau of Engraving and Printing made the first experimental precanceled stamps. An example of a precancel is shown above. Almost all precancels have a solid line above and below the location name.
A rare double impression of #462, valued at around $2,750
The earliest known use of #462, October 3rd, 1916
In 1916 in order to help finance the war effort, postal stamps were taxed primarily within the British Empire by overprinting the stamps with the words ‘WAR TAX’, 'WAR STAMP' and various derivations. There was some thought by members of the public that this practice should be applied to US postage stamps and the above example was submitted to the Bureau for consideration by Charles Thompson.The idea was rejected and the US did not issue war stamps.
Although in 1916 the idea of a war tax stamp had been rejected the following year the idea of a stamp to assist the war effort was resurrected. It took the form of the WAR SAVINGS CERTIFICATE STAMP.
The primary, interest-earning stamp issued was the War Savings Certificate stamp, which was worth 5 dollars at maturity on January 1, 1923. These stamps needed to be affixed to an engraved folder called the War Savings Certificate, which carried the name of the purchaser, and could only be redeemed by that individual. Between December 3, 1917 and January 31, 1918, each stamp could be purchased at the price of $4.12. If purchased on January 2, 1918, the return on the investment would be 4 percent, compounded quarterly. The price of the stamp increased by one cent for each month after January 1918 until sales ended in December 1918. Owners of these stamps could also redeem them for cash prior to the maturity date and receive the amount paid plus one cent for every month after the original purchase. The Treasury issued a new series of War Savings Certificate stamps in subsequent years, with the same interest rate and time to maturity. The final series of War Savings Certificate stamps were issued on December 21, 1920, maturing on January 1, 1926
A rare example of a war stamp on cover and its creator, Mr Charles Thompson
The above cover is addressed to George H. Grinnell who created the infamous Hawaii missionary forgeries. The sender of the above cover was a stamp dealer and a well known philatelic writer, a Mr Charles Thompson. He printed them on his own and overprinted stamps until he was told to stop by the authorities after the New York postmaster complained of their use.
To aid the war effort from Nov. 2, 1917, to June 30, 1919, the rate for a first-class letter weighing up to 1 ounce was raised from 2¢ to 3¢. Of this amount, 2¢ went for postage and 1¢ paid the war tax (although no surcharge was ever printed). The 3¢ Victory issue (#537) was issued on March 3rd, 1919 for this purpose.
A novelty 1917 cover with #462 hand stamped with Germany
The above cover is addressed to Percy Mc G. (McGraw) Mann, the publisher of the Philadelphia Stamp News. #462 was hand stamped with the word Germany as a protest to the war.