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EXTREMELY FINE APPEARING EXAMPLE OF THE RARE 10-CENT "I.R." EMERGENCY PROVISIONAL OVERPRINT.
To meet the increased demands for federal revenue during the Spanish-American War, on June 13, 1898, Congress approved the War Revenue Law of 1898. The law was to become effective on July 1, 1898, leaving only seventeen days before the new stamps were needed. The Bureau of Engraving and Printing had already started work on the dies, rolls and plates in anticipation of its passage, but they were still unable to issue stamps when the law went into effect.
A large quantity of 1c and 2c stamps were printed with an "I.R." overprint (Scott R153, R154, R155 and R155A). Additionally, small quantities were produced in the 8c, 10c and 15c denominations. These issues mark the first time that the United States had to resort to surcharging. According to Sloane's Column (Jul. 31, 1948), the Michigan Mutual Life Insurance Co. handstamped copies of the 8c, 10c and 15c regular issues over a period of five days in July 1898. Sloane states these provisional revenues were brought to the philatelic market by J. E. Scott, a collector and employee of the company. J. E. Scott reported that the company used 41 copies of the 8c, 66 of the 10c and 28 of the 15c. The Scott Retail values support this relative mix of supply.
With 1991 P.F. certificate (Image)
FINE CENTERING. AN EXTREMELY RARE UNUSED EXAMPLE OF THE 2-CENT PROPRIETARY INVERT ON GREEN PAPER. ONLY NINE OF THE FOURTEEN RECORDED EXAMPLES ARE UNUSED.
In the privately published census by Larry Lyons, he records 13 copies of the 2c Proprietary Invert on green paper. One additional example has come to light since his census, offered in our Sale 1037. Of the total recorded, nine appear to be unused, and all but one have at least one fault. (Image)