Scotts #240 US stamps

#240 - 1893 50¢ Columbian

50¢
Slate blue or dull slate blue

Subject: Recall of Columbus
Number issued: 243,750
Perforations: 12
Watermark: Unwatermarked
Scott #: 240
Issued: January 1st, 1893

Value

Used
$24 - $35
No postmark with gum (MH)
$160 - $225
Full perfect gum, no postmark
no trace of stamp hinge mark (MNH)
$400 - $600

Exposition cancels

An example of an Exposition cancel which will command a price premium. Covers such as the one above sell in the region of $1,000

Advertising Folders

This advertising folder was given as a complimentary souvenir of the fair by Faros, Leach & Company, bankers of New York and Chicago. The inside of the folder contained mint copies of the 1,2,3,4,5 and 10¢ Columbians

A full pane

A pane of 100 of #240, there are two panes to a sheet of 200

Inspiration for the Design

The painting entitled "Recall of Columbus, " by the artist A. G. Heaton, was taken as the subject for the design of this stamp. Columbus, with money given him by the Queen for traveling expenses, purchased a mule and went to the Court of Spain where he pleaded his cause. After presenting his case he felt that he had failed to convince the Court and finally started for France. A messenger was sent to intercept him and the scene of the painting, and therefore the stamp, shows the messenger meeting with Columbus

Exposition tickets

Tickets to the Columbian Exhibition

Plate #'s

#240 was issued with the following plate #

8 77

Essay's and Proofs

Enlarge

240-P1

Enlarge

240-P4

The story behind the Columbian Issue

An American Bank Note Company set of proofs mounted on card and signed by the engravers

On the occasion of the 400th anniversary of the Landing of Columbus the largest Exposition ever held on US soil was held in Chicago. The Post Office was determined not to miss out on this and proposed a series of stamps to commemorate the event. The purpose behind this was three fold

1) To encourage the purchase of stamps by the public
2) To stimulate the hobby of stamp collecting
3) To make a tidy profit

It was estimated that 3 Billion stamps would be sold and between September and the end of December 1892 work progressed on their production.

The Post Office's plan of their exhibition space at the Chicago Exposition

At the Exposition the Post Office was in the US Government Building and had been given a vast amount of display space. The display cases showcased stamps from the very earliest days of stamps to 1892 both in the US and around the world. Postal cards were sold in every building and of course one could purchase the new Columbian series stamps.

The US Government building at the World's Columbian Exposition

The Post Office Dept. informed all post offices that they would not be able to order the new series on an 'as needed' basis as was the normal procedure. Instead they would be sent an amount the powers to be deemed sufficient. Plus the department would not accept any returns and they would not be issued any other stamps until they had run out the new series. This caused much complaining by the post office owners, complaints were coming in that these stamps were too big, being twice the size of current issue (this was done to accommodate the expansive designs).

The Post Office display space at the World's Fair

The post offices need not have worried. The stamps proved to be immensely popular. So much so that Post Offices refused to sell the higher values for fear of running out. The price of these skyrocketed as a result. Companies instructed their offices to use the higher values on internal parcels so they could benefit from their sale when delivered to their branch offices. US travellers in Europe were accosted for them, they were even traded on bourses.

And then like all bubbles, it collapsed. Before you knew it the $5 stamps were being sold at a steep discount. Being totally useless for letters, and with a world glut the price dropped like a stone, at one point stamp dealers would only offer 30% of the face value for them.