Mistrust of Banks Led to Postal Savings

Question: While looking through my mother’s old books, I came across a stamp that was issued in 1941. It shows a Minuteman with a rifle and the inscription “America on Guard, 50, U.S. Postal Savings.” There are five of them. Is there any value?--M.B.M.

Answer: This is the 1941 Postal Savings stamp (Scott No. PS13), listed currently at $9 per stamp.

U.S. Postal Savings stamps were issued from 1911 to 1966 to provide a convenient method of savings for customers. The stamps were redeemable in the form of credits to Postal Savings accounts and were originally begun to encourage savings from citizens who mistrusted banks, especially new immigrants or people in the Depression who lost money in bank accounts.

With federally insured savings accounts at commercial banks and savings and loan institutions, the need for Postal Savings withered away, and the system was abolished on March 28, 1966. As a little boy, I remember going to the post office and seeing people buying Postal Savings stamps at a special lobby window. I didn’t buy any for my youthful stamp collection, because I thought they would never be valuable.

Q: I have a stamp from Belgium picturing a soldier on crutches. Also a set of six Finland stamps showing Field Marshal Mannerheim. When were these issued and what are their values?--S.B.

A: The Belgium semi-postal stamp of 1923 was sold to aid wounded veterans of World War I. Its catalogue value is $3.50 either mint or used. Your Finland set dates from 1941 and is listed at $4.80 mint, $7.50 used.

Q: I have a number of pre-World War II stamps from Italy, Switzerland, Japan and China. Could you recommend a reference book for the background of these stamps and perhaps their value? They are all canceled but in good condition.--L.H.S.

A: Scott catalogues in your local public library are the standard price reference in the United States. Be aware that catalogue prices tend to be inflated a bit, and condition of the stamp is all-important in determining market value.

For the countries you mention, specialized books exist that explain and describe the historical and printing details of those nations’ stamps. Such books may be found at a stamp dealer’s shop, although some have long been out of print.

Q: What is the average price of a U.S. first-day cover? From time to time I have the opportunity to buy large lots of these, say from 500 to 800 covers ranging from the 1940s to the present. What is a good wholesale price for such lots?--R.L.

A: First-day covers that are clean, undamaged and without addresses on the front of the envelopes are worth maybe 25 cents to 50 cents each at retail, more if the printed cachet (envelope design) is rare or if the denomination is high (for example, a first-day cover of a $1 issue).

Dealers might pay from 10 cents to 20 cents for such covers, depending on the date and rarity of the stamp affixed.

Q: I have a postal stationery envelope (with the stamp printed and “raised” on the envelope) showing a horse and rider on the top and a railroad train on the bottom and the dates 1776-1876. The denomination is 3 cents. The stamp is colored green. Is this worth anything? Was it used for the pony express?--F.L.

A: Depending on the variety, your envelope lists from $40 to $60 mint, and $22.50 to $30 used. The pony express existed in 1860-1861, before these envelopes were created.