U.S. 1887 Benjamin Franklin stamp a good buy

Stamp Market Tips by Henry Gitner and Rick Miller

Founding Father and first postmaster general of the United States, ambassador, inventor, publisher, and author Benjamin Franklin (1706-90) has been the subject of more United States stamps than any other American besides George Washington.

In 1887 the American Bank Note Co. produced a 1¢ ultramarine Benjamin Franklin stamp (Scott 212) for the Post Office Department. The engraved stamp was produced by flat plate printing on unwatermarked paper and perforated gauge 12. The earliest documented use of the stamp is June 22, 1887. The issue quantity was 1,578,043,800, and a significant percentage of that amount was used for postage.

The Scott Specialized Catalogue of United States Stamps and Covers values the stamp in unused, original gum condition at $90. An example in mint, never-hinged condition is valued at $290. The stamp in very fine grade is a good buy at around 80 percent of Scott U.S. Specialized catalog value in either condition. Examples in used condition are inexpensive and valued at just $2.50. There are small premiums for stamps bearing various colors of cancellations listed in the Scott U.S. Specialized catalog.

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