See below for details
$2 Dark blue
Printing Method: FLATE PLATE
Subject: James Madison
Number issued: 305,380
Perforations: 10
Watermark: Unwatermarked
Scott #: 479
Issued: March 22nd,1917
Used
$15 - $35
No postmark with gum (MH)
$110 - $145
Full perfect gum, no postmark
no trace of stamp hinge mark (MNH)
$250 - $375
The $2 Madison comes in two versions, 10 and 12 perforations. The 1902 12 perforation (#312) is fester more valuable. Click here to read more
Earliest known use of #479, April 6, 1917
James Madison's portrait by Gilbert Stuart
Early in 1917 there was a sudden demand for high value postage stamps. This country was sending numerous shipments of machine parts to Russia by Parcel Post and valuable shipments of Liberty Bonds also required large amounts of postage. The demand was unexpected and the Bureau had no time to prepare new designs so the series of 1902 master dies were used to prepare new plates, as the original plates and transfer rolls had been destroyed. These new plates were of 200 subjects, cut vertically into panes of 100 leaving the horizontal row blocks intact.
These stamps were replaced by a new issue about a year and a half later, but the Bureau delivered the two dollar stamps as late as the fiscal year of 1920 and the five dollar stamp up to 1924. Having been used in quantities on individual shipments used blocks are quite common, the lower value being more desirable as the five dollar was usually used in larger blocks.
#479 was issued with the following plate #
Number Only
8015
The American Bank Note company's engraving of James Madison, used as the vignette for this stamp