The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1894-04-22
STAMPS AT A PREMIUM

|
stamps for speculative purposes is now
being gladdened with developments that
are beyond the anticipation of even the
most sanguine. Stamp collectors. dealers
and spectators are now frantieally scour-
ing the entire United States by wire md
mail to secure whatever quantity obtain
able of the better values, particularly the
dollar denominations, but with little sue
cess
When. toward the end of the last calen-
dar year. it was announced that the Post
ONCE Department at Washington had to
issue mandates to all the Postmasters To
force the sale of Columbian stamus, owing
to the large quantity that remained undis-
posed of at that time, it was the general
opinion that those VINO had laid in sup
plies of them for speculative pur poses were
destined to be disappointed. But few of
the Spectators, however, lost courage;
they simply made up their minds that they
would have to hold on to their stamps some
| whar longer than first contemplated.
| Those collectors and dealers who had
| failed to supply themselves with these
labels then began to prophesy decline
In the value of used specimens, and took
! frequent occasion To poke fun at their
felow-frnds who had been in hurry, as
they phra sed it. to buy.
So matters remained for the first few
months of the cnrrent year. Then began 10
be noticed slow but gradual and ncreas-
| ing demand for the more desirable values,
/ such as the 3, 6, s, Is. 80 and 90 cent and
all of the dollar values. First one post
office was reported TO be out of certain
value, then some other postOfflce was an
Dounced to be out OF another. and by the
middle of March it became apparent that
the demand for sets of the Columbian issue
| "a hpP0mp W. W hen "a
| issue was first placed On sale January 2,
| 1898
| In February the exact number of each
value that had been printed and turned
| over to the postal authorities became
known, and this it was that stimulated
afresh the desre'of collectors, dealers and
spectators. OF the 3-eent II. 22S, $50 were
issued. of the Scent 1880, go of the Scent
1860 $50. of the 15-cent l, 547790, of the 80
cen, 6 $500. of the sec Mt 200, 716, of the 81
$500 of the 50 24,079 of the So 1921, OF
the 81 1859, of the So 1905.
| Notwithstanding the com pa ratively large
number of the 3. 6, s and 10 cent Issued,
many were induced TO speculate in them
Oh account of the small sum 1t required to
purchase thousand or two OF them. and
| because, as they reasoned, thousands buy
stamps that cost less than so cents, where
only few buy those that were sold for 80
cents or more.
Those with more hardihood and better
| foresight, however, invested in the higher
| values, even including the So. They did
not fail to take into consideration that
every season there are sold at public
auction in this country ana in Great
| Britain thousands of stamps ranging in
value from S. o $1,000 each.
Whatever the motive the fact remains
that il Is to-day virtually impossible to get
any of the dollar values at any pOstoffice
| in the Uniled States and at but few can
any of the other values previously men,
toned be obtained.
The history of the sale of these stamps
| In this city will serve to illustrate the rage
for them from the Atlantic to the Pacific
Cosst and from the Canadian to the Mexi-
can border.
Up to the 1st of March the demand was
normal, and was mostly for he denomina-
tons up to and including the 50-cent. Soon
| after began call for complete sets from
local collectors: this developed into sales
| of several sets to local dealers and specu-
| lators. soon came orders by mail from
! neighbOring towns for the highest values,
and within the past month the Postmaster
| has been receiving an average of ten letters
daily from all parts of The United States
! for full sets or for the dollar values. most
of the writers nclosing drafts or money.
| In one case there was iEclosed $500 in
eenbacks. but the order came too late to
| be filled.
On the 1st of March there we're among
others in the Postotfice in this city 80 of
the 81. IA of the S. sc of the So 142 of the
| 81 and 100 of the So stamps. On April 1
all the 81 and 50 stamps had been ex-
| hausted, and there remained only 30 of
the So, 81 of the 81 and II of the So. To-
lay there is not a single one of these LETT.
nor are any of the 80 aud 30 cent denomi-
| nations to pc had.
! That this extraordinary demand came
only from collectors, dealers and specula-
| tors is shown by the statement of Assist
ant Postmaster Richardson that during
| the entire period during which these
stamps were In use he knew of but dozen
cases in. which the S. stamp was legti-
mately used tor postage. He stated that
| for two months after the Government had
| ceased to issue them the highest values lay
| dormant, but within the past few months
| thousands of dollars, offered Tor the pur-
chase OF these stamps, had been turGed
away from the stamp window or bad been
returned to people VINO had written.
| At the Oakland post flee there were re-
ceived shortly before the first of The year
about 200 each of the 81. 50. SO, 81 and S.
| denominations. and of all these there is
| not one now on hand.
] AS result of this complete depletion at
| the postoffice these values are new CON-
handing premium that will return a
| handsome profit to the holders of them.
| For the 81 local dealer is offering 81 30
each for unused specimens and 81 % for
| used specimens, and is unable 70 secure
any. Varying premiums are offered for
the other dollar values, the So stamps now
| commanding Sc. with few to be had.
! One enterprising dealer has sent out
| circular letter to all the first and second
| class p0stoffices in the United States ask
| ing them how many of each of the 50-eent,
| 81. So, So. 81 aud S. they have on hand
and reques sting them to hold them till be
can forward a money order or draft for
their purchase. Thus far his returns have
| been very meager
A Boston collector. unable to secure the
set from 81 to s. IN blocks of eight in his
city wrote a friend here to buy them. The
! latter was unable to get them at the post
| Office, but found he could obtain them
from local dealer by paying handsome
premium. A telegraphic correspondence
ensued, which cost the collector about 81,
| and the desired stamps became his.
An employee of New York bank is
| known to have laid away as an invest
ment 100 each of the So. "a and So.
| 1t Is reported that New York syndi-
cate is mainly responsible for the sudden
| exhaustion of all the high values. If such