Description: The Bureau of Engraving and PrintingWith the release of the 1894 series, the United States Bureau of Engraving and Printing (BEP) began printing postage stamps for the first time—a significant change, as stamp production had previously been handled by private companies.The BEP was established in 1862 during the turbulence of the Civil War. As the conflict erupted at Fort Sumter, the nation faced a severe financial crisis, lacking the funds needed to sustain the war. In response, President Lincoln called a special session of Congress, where Secretary of the Treasury Salmon P. Chase proposed issuing non-interest-bearing notes that would circulate as currency, along with a system of internal taxation.Congress approved this plan, marking the beginning of government-issued paper currency. Initially, these notes were produced by New York bank companies and signed by Treasury officials, a method that soon proved impractical. Consequently, it was decided that the required signatures and Treasury seal would be imprinted on the notes, and the BEP began its operations on August 29, 1862.Later that same year, the position of Commissioner of Internal Revenue was created, tasked with taxing items like medicines, perfumes, cosmetics, alcohol, and tobacco, with stamps as proof of tax payment. The BEP initially printed stamps for beer and cigars, expanding to produce nearly all revenue stamps by 1878.In 1894, the BEP submitted a bid to print the new postage stamps, undercutting the lowest offer from private companies by about $7,000. Despite criticism regarding its capabilities, the BEP won the contract.Since then, with few exceptions, the BEP has printed most U.S. postage stamps. Today, it stands as the world’s largest securities printing firm. Located in Washington, D.C., it operates in two specially constructed facilities, covering approximately 24 acres, with over 3,300 employees working around the clock, 24 hours a day.This rare stamp, a true gem of American postal history, symbolizes not only excellence in printing but also the transition from privately managed production to a meticulously government-operated process. Every detail reflects the care and quality that marked one of the first issues produced directly by the government, making it an essential acquisition for collectors who value history and authenticity.
Price: 385 USD
Location: Orlando, Florida
End Time: 2025-01-02T19:28:20.000Z
Shipping Cost: N/A USD
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Item Specifics
All returns accepted: ReturnsNotAccepted
Place of Origin: United States
Quality: Used
Grade: Ungraded
Certification: Uncertified
