First Day of Issue New York Stock Exchange Stamp Cache Envelope Enclosure

Description: First Day of Issue New York Stock Exchange Stamp Cache Envelope Enclosure 29¢ May 17 1992 New York NY New York Stock Exchange The first stock exchange was established in Antwerp, Belgium in 1531 and there was none in England until the 1700's A person wishing to buy or sell shares of stock prior to the exchanges being established, had to find a specific broker to transact business on the behalf in London prior to the 1700's people usually went to a coffeehouse because brokers often gathered there. In 1773, the brokers of London formed a stock exchange. In New York, brokers met under an old buttonwood tree on Wall Street for an undetermined period of time in 1792 (the date on this stamp as the beginning of the New York Stock Exchange (NYSE), the brokers who were gathered decided to begin charging a commission for each sale. The brokers, did not however, formally organize as the NYSE until 1817 and the name was not officially adopted until 1963, nearly a 100 years after the date indicated on the stamp. These dates may be part of the ongoing effort of the US. Postal Service to increase philatelic revenue. Another thing about this issue that indicates it is an effort to increase revenue to collectors is the marginal marking that indicates, "A limited edition print featuring these stamps is available while supplies last! The marginal inscription further states the cost of this limited edition print costs a mere $9.95 plus an additional 50 cent handling fee, as well as an address for ordering What they are selling is a commemorative panel already available by subscription for only $4.95 What the USPS has done is simply print a larger quantity than usual (like they did with the Desert Storm issue) and more than double the price. Consumer organizations continue to notify the public that the term "Limited Edition does net denote value or scarcity A spokesperson for the USPS minced no words in admitting that this was only a regular commemorative panel and was designed to introduce the panel subscription service to a different market. When marginal markings were first instituted on the margins of panes of postal issues the USPS indicated they were being added to provide explanations of stamp subjects to postal customers and clerks For the first such use we refer you to the issue of Feb. 2. 1990, Scott 2415, for the U.S Supreme Court issue. Since that date we have produced a variety, of varieties, for every such issue up until this one that included these descriptive tabs We did NOT de so for this one since it was fully promotional and not educational. The indicia that is the postage stamp design was executed by Richard D. Sheaff of Needham Heights, MA. The stamps were printed under a contract entered into between the USPS and the American Bank Note Company (ABNC) The stamps were actually printed, however, by the Jeftries Bank Note Company (JBNC) by utilization of the offset intaglio combination method with offset colors of red and green and intaglio of black. Modeler for the issue was Jack Barnett of ABNC and engraver was Dick Jones of JBNC. As you can toll from the face of this cover the revised engraving we utilized as our cachet was handpainted by Sharon. Features: • First Day of Issue Stamp Cache Envelope and Enclosure • Made in USA Condition: Pre-Owned Good

Price: 12.95 USD

Location: Humble, Texas

End Time: 2024-09-28T04:17:19.000Z

Shipping Cost: 4.25 USD