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Stamps (Philately)/2 cent bsnk note stamp

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Question
U.S. INTER.REV Stamp
U.S. INTER.REV Stamp  
I inherited a medium size stamp collection from my grandfather. In there I found a green 2 cent bank note stamp with U.S. INTER.REV non-canceled perforated on 4 sides.  However it does have this written in the center in ink...North (could be Norah)
         1863
         JS Wiley

Answer
Hi Stanford,
  This is a very common stamp.  The US from 1862 to 1965 utilized "Revenue" stamps to collect tax (and indicate tax paid) on various transactions.  This is from "First Issue", and though "old" is really not worth very much.  Scott Specialized catalog list this stamp as having a catalog value of 50 cents.
  What you are seeing on the stamp is a "Manuscript Cancel".  That is to say, someone wrote over the stamp, thereby cancelling it.  It says "March 5, 1863" (not North or Norah, that's just sloppy handwriting).  Below that it appears to have "J.S. Wiley" which is likely the name of the person writing the bank check, and hence required to pay the tax. Yes... you had to pay a tax to write a check back in those days).
   There are many "types" of revenue stamps in the first issue, like Bank Check, Express, Playing Card, Certificate, Proprietary, etc.  Each would have their "purpose" written at the bottom or in the sides (for higher and later denominations).  After firs issue the USIR realized it was expensive to print "specific" types for revenue collection, and unnecessary.  So starting with the second issue and continuing from there, they were just "Revenue" stamps, and could be applied to any kind of document that tax was collected on.  (And later became known as "Documentary" stamps).
  The USIR stopped using them in 1965.  They were no longer required for tracking and proving of tax collected on documents, as the systems had evolved, and this reduced cost to the USIR in collecting the tax.

I'm sorry to hear of the passing of your grandfather.  But hopefully you find joy and wonder in the collection he has left you, no matter what it's physical value is.
Best regards,
Scott  

Stamps (Philately)

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Scott Payton

Expertise

My expertise is in US, but I have a lot of exposure to worldwide, and with wide reference material, I will do what I can to answer questions about global stamps. In US I have extensive experience in all aspects (does include Administrative overprints for Cuba, China, Puerto Rico etc.). Also, Hawaii general issue and Revenue (pre-statehood). Of course still building knowledge but have been collecting since 1980. Air Mail is a favorite area, but not a limitation. Two specialty areas are Large Banknote issues, and Washington/Franklin identification. Strong experience in Carrier & Locals, Private Die (Also known as M&M for "Match & Medicine" but also includes some playing card and perfume stamp issues.) Recently have been building more back-of-book experience, especially around Official, Newspaper, Revenue and tax editions. Some covers, and cancellations, but not my strong suit. Another area I'm recently diving into. What I can't do: Anything non-US, as it's just not an area I focus on.

Experience

30+ years of learning the hard way. A lot of passion for collecting and dealing (as I do both). I don't consider it a hobby... I consider it a serious pursuit that I'm able to do in the hours I'm not occupied by annoying things like sleep. I work closely with some of the global leaders in the expertizing and identification field. Have co-authored several papers (with Mr. William Weiss Jr.) related to identification, as well as tool set to help with quickly identifying the more challenging areas of Washington Franklin. Strong experience in paper types and coil validation.

Organizations
Member of APS #222356.

Publications
1870 - 1879 Large Banknote Issues - Easy Identification (co-authored with William Weiss Jr). Washington-Franklin - Easy Identification (co-authored with William Weiss Jr.) Detecting Fakes, Alterations and Counterfeits (APS Summer Session Expertizing Session materials with William Weiss Jr.)

Education/Credentials
Thousands and thousands of hours of pouring over hundreds of collections. 30+ years as a collector-to-dealer, avid student of philatelic study. Pre-1900 variation is fascinating, and it seems even after all these years, that I make some discovery every time I look at a new example. APS Summer Session - Fundamentals of Expertizing 2014

Past/Present Clients
100's too numerous to mention.

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