Washington bank check stamp

[jtw1313]

Has some writing on it not sure for what

 

[Mackaydon]

It is what is known as "revenue stamped paper". It appeared on a number of different types of financial documents starting in 1862. The tax collected was used to pay for The Civil War. It was not a luxury tax. The tax on checks ended in 1883.
Don......

 

[jtw1313]

Thanks don I have prob every country in stamps any advice for me on how to know the value for these

 

[Mackaydon]

My general rule is: Only US, England and Canadian stamps have held their value. (I emphasize the word 'My'). In my opinion, stamp collecting is about as popular today as using a slide rule. Therefore, IMO, most of the stamps from other countries are not financially worth more than face value--if that. Sure, there are exceptions, but unless the collector has specialized, the 'generalist' is holding thousand of worthless items. What I have done with a ton of stamps is donate them to the Boy Scouts of America--to their Stamp Collecting merit badge advisers.
The best value I have gained through stamp collecting is the historical knowledge stamps can provide and, of course, in the collecting process, itself.
Don.....

 

[jtw1313]

Thanks for the advice don

 

[Mackaydon]

To answer your first concern, hand initialing and dating the stamp with ink (later with a device) had the effect of cancelling the stamp; acknowledging payment--and in compliance with the law.

One onliner expressed this: "Faced with the financial demands of the Civil War, our Federal government issued the Revenue Act of 1862. This Act created ways to raise new revenue, as well as formed the Department of Internal Revenue. Nearly every kind of document was taxed (including deeds, insurance policies, telegrams, stock certificates, etc) and what were considered luxuries (such as playing cards, liquor, tobacco, matches, perfume.) Revenue stamps were designed to affix to these various items proving that the tax had been paid."
Don......

 

[trdking]

The only USA stamps worth collecting are prior to the civil war. The older they are the more valuable and after the civil war very few command any money

 

[Moregon]

Has some writing on it not sure for what

That's an interesting piece of history! These old revenue stamps are fascinating because they tell us a lot about how financial transactions and taxation worked during the Civil War era.

When evaluating collectibles, I'd suggest checking completed auction sales rather than relying only on asking prices. Condition, rarity, cancellation marks, and historical significance can all affect their value.

It's also useful to compare prices and calculate potential returns before buying or selling collectibles. I sometimes use Easy Finance Calc for financial calculations and comparisons.

Have you checked whether similar Washington bank revenue stamps have sold recently at auctions?