Philatelic Scripophily: Revenue-Stamped Stock Certificates of the Civil War Tax Era, 1862–1872

The “Consuelo” 
September 1865, New York, works in California. At top the iconic 1851 Augustus Humbert $50 piece;
below, U.S. 1865 $20 gold “double eagle” and $10 gold “eagle”

The purpose of this exhibit is to present a panoramic overview of the field of revenue-stamped stock certificates of the Civil War tax era. Two goals are pursued: 

  • to illustrate the scope and vigor of the U.S. economy of this era as no other collectibles, philatelic or otherwise, can do;
  • and to highlight those cases where the stamps affixed are extraordinary.

(Only those with adhesive stamps are included; the relatively very  few with imprinted stamps comprise a specialized field worthy of their own exhibit.)

These two paths are often entwined. Exhibit Plan:

  • 1.  Railroads / Patterns of Stamp Use (five subsections)
  • 2.  Mining (nine subsections)
  • 3.  U.S. - Nevada combination stamping
  • 4.  Rare Western origins, non-mining
  • 5.  East and Midwest (seven subsections)
  • 6.  The South (eight subsections)
  • 7.  Unincorporated companies: 5¢ Certificate rate
  • 8.  Civil War and  later issues combined 

In Section 1, a broad array of railroad certificates is used to explain patterns of stamp use. 

In Sections 2.2 (Western “silver fever” of 1863–4) and 3 (U.S. - Nevada combination stampings)  the two basic themes are wonderfully combined; viewers will find there a panoply of rare stampings, on certificates with impressive historical import.

However, in key Sections 5 (East and Midwest) and 6 (South), comprising just over half the exhibit, organized by industry, products, sites, etc., with a few notable exceptions the stamps are inconsequential in determining interest or value. In the exotic Sections 7 and 8, again the primary focus is on the stamps, but the certificates are significant in their own right.

This exhibit brings under the philatelic umbrella a portion of the field of scripophily, the collection and study of obsolete stocks, bonds and related securities. This has long been a popular and competitive arena, in which the presence of stamps, even those cataloging in the four figures, has typically been disregarded. My aim here is to make philatelists into scripohilists, and vice versa, if only for this subfield where their scopes intersect. Scripophilists will find herein a figurative Aladdin’s Cave of treasures.

Click here for the ten-ftrame exhibit



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