Congress passed the Revenue Act of 1862 to raise money for the Civil War. This new act put a 2¢ tax on bank checks. While most paid the tax by affixing a 2¢ stamp to the check, Congress also authorized Revenue Stamped Paper where the stamp is printed right on the check, like this…
US #RN-D1 – 2¢ Orange Franklin, Type D on Bank Draft from First National Bank of New London, CT
The original 1862 tax was 2¢ on any check of $20 or more. Many people snuck past the tax by writing two separate smaller checks. So the law was changed to include checks of any amount.
Revenue stamped paper was printed by security printers approved by the federal government. Stamp dies were loaned to these printers by the Bureau of Internal Revenue. Once printed, the paper could be bought by independent printers who then printed checks and other documents on it. Printers even created sample books showing their work with a number of designs for potential customers to choose from. A firm could pick a very plain type of check or have elegant artwork printed at a steeper cost.
Revenue stamped paper is an interesting part of history, and is rarely found in modern collections. While these hard-to-find documents are now over 145 years old, they’re surprisingly affordable. Add them to your collection today…
US #RN-F1 – 2¢ Orange Franklin, Type F on Bank Draft from First National Bank of New London, CT
US #RN-G1 – 2¢ Orange Liberty, Type G on Bank Draft from New London City National Bank of New London, CT
US #RN-J4 – 2¢ Orange Washington, Type J on Bank Check from Fidelity Insurance Trust, & Safe Deposit Co.
US #RN-K6 – 2¢ Orange Washington, Type K on Bank Check from Fidelity Insurance, Trust & Safe Deposit Co.
US #RN-P5 – 5¢ Orange Lincoln, Type P on Fractions Agreement from Office of Chicago, Rock Island and Pacific Rail Road Company
US #RN-U1 – 25¢ Orange Franklin, Type U on Stock Certificate from Chicago & South Western Railway Company
US #RN-W2 – $1 Range Washington, Type W on Land Grant Bond from Flint & Pere Marquette Railway Company
Check Out These Neat Revenue Stamps
#M12439 – US Revenue Starter Collection of 16 Stamps
#MUS009c – 1898 US Battleship Maine Revenue Stamps Collection of 15
#MUS006 – 1862-1900 US Match & Medicine Stamps Collection of 9
US #R24a – 1862 5¢ Certificate Stamp, Red, Imperf.
US #R159 – 1898 $5 Documentary Stamp on Overprinted Reading Down on Newspaper & Periodical #PR121, Dark Blue, Perf. 12
