#78a – 1862 24c Washington grayish lilac

Condition
Price
Qty
- Unused Stamp (small flaws)
Ships in 1 business day. i
$700.00
- Used Stamp (small flaws)
Ships in 1 business day. i
$190.00
U.S. #78a Grayish Lilac
Series of 1861-66 24¢ Washington

Earliest Known Use: February 20, 1863
Quantity issued:
 9,620,000 (estimate)
Printed by: National Bank Note Company
Method: Flat plate
Watermark: None
Perforation: 12
Color: Grayish Lilac
 
This issue repeats the design of the 24¢ red lilac Washington which was released January 7, 1862.   The 1861-66 series stamp has a darker lilac color and was released a year later.
 
The Series of 1861-66
In 1861, the United States began printing paper notes to finance its Civil War operations. Since the back of the notes were printed in green, they were commonly referred to as “greenbacks.” At first, the notes were redeemable in coins, but as the war raged on, they became merely promises of the U.S. government to pay. Since the notes had no metal money behind them as security, people began to hoard their gold and silver coins.
 
By 1862, greenbacks were being used more frequently, as coins disappeared from circulation. Eventually, small change vanished completely, and greenbacks were the only currency being used. Since much of what people needed cost less than a dollar, they found themselves faced with an unusual dilemma: how to pay for things without using their precious coins. Soon people were buying a dollar’s worth of stamps and using them as change instead.
 
As stamps became an accepted form of currency, several new ideas developed. In 1862, John Gault patented the idea of encasing postage stamps in circular metal frames behind a transparent shield of mica. Stores and manufacturing companies such as Ayer’s Pills, Burnett’s Cooking Extracts, and Lord & Taylor began impressing their name and product on the back of the metal frame and began using them for advertising. Known as encased postage, this form of change was widely used during the war.
 
Another new development was the idea of postage currency, which was approved by Congress on July 17, 1862. As a substitute for small change, U.S. Treasurer Francis Spinner began affixing stamps, singly and in multiples, to Treasury Paper.  Although this was not considered actual money, it made stamps negotiable as currency. Eventually, the Treasury began printing the stamp designs on the paper, rather than using the stamps themselves. Postage currency remained in use until 1876, when Congress authorized the minting of silver coins.
 
Read More - Click Here

  • U.S. Album with 100 postally used stamps, 1,000 hinges, and a free stamp collecting guide U.S. Stamp Starter Kit

    This is a great album to start with because it pictures U.S stamps that are easy to find and buy. Pages illustrated on one side only, high quality paper, every stamp identified with Scott numbers. Includes history of each stamp. Affordable - same design as Mystic's American Heirloom album.

    $14.95
    BUY NOW
  • 3-Volume American Heirloom Album and 200 Used US Stamps 3-Volume American Heirloom Album

    America's best-selling album. Pictures most every U.S. postage stamp issued 1847-2016, over 5,000 stamps with Scott numbers. Pages filled with stamp history. This album is a great value!

    $49.95
    BUY NOW
  • Mystic Premium Hingeless American Heirloom Album Volume I, 1847-1934 Premium Hingeless American Heirloom Album

    Similar to standard American Heirloom album but includes mounts that are already attached to pages, saving you time and effort. Sturdier pages than American Heirloom. Includes Scott numbers and stamp history. This volume is for stamps issued 1935-1966, over 600 stamps. Higher quality album than Heirloom.

    $99.95
    BUY NOW

U.S. #78a Grayish Lilac
Series of 1861-66 24¢ Washington

Earliest Known Use: February 20, 1863
Quantity issued:
 9,620,000 (estimate)
Printed by: National Bank Note Company
Method: Flat plate
Watermark: None
Perforation: 12
Color: Grayish Lilac
 
This issue repeats the design of the 24¢ red lilac Washington which was released January 7, 1862.   The 1861-66 series stamp has a darker lilac color and was released a year later.
 
The Series of 1861-66
In 1861, the United States began printing paper notes to finance its Civil War operations. Since the back of the notes were printed in green, they were commonly referred to as “greenbacks.” At first, the notes were redeemable in coins, but as the war raged on, they became merely promises of the U.S. government to pay. Since the notes had no metal money behind them as security, people began to hoard their gold and silver coins.
 
By 1862, greenbacks were being used more frequently, as coins disappeared from circulation. Eventually, small change vanished completely, and greenbacks were the only currency being used. Since much of what people needed cost less than a dollar, they found themselves faced with an unusual dilemma: how to pay for things without using their precious coins. Soon people were buying a dollar’s worth of stamps and using them as change instead.
 
As stamps became an accepted form of currency, several new ideas developed. In 1862, John Gault patented the idea of encasing postage stamps in circular metal frames behind a transparent shield of mica. Stores and manufacturing companies such as Ayer’s Pills, Burnett’s Cooking Extracts, and Lord & Taylor began impressing their name and product on the back of the metal frame and began using them for advertising. Known as encased postage, this form of change was widely used during the war.
 
Another new development was the idea of postage currency, which was approved by Congress on July 17, 1862. As a substitute for small change, U.S. Treasurer Francis Spinner began affixing stamps, singly and in multiples, to Treasury Paper.  Although this was not considered actual money, it made stamps negotiable as currency. Eventually, the Treasury began printing the stamp designs on the paper, rather than using the stamps themselves. Postage currency remained in use until 1876, when Congress authorized the minting of silver coins.