The story of stamp currency
Wars sometimes have very surprising consequences.
The tremendous upheaval they cause within state structures and the changes they evoke for the daily lives of the people themselves often foster cunning, resourcefulness, and inventiveness.
One frequent problem, from a strictly monetary perspective, is the lack of available cash resulting from hoarding and/or the scarcity of metals.
Twice in our history, we have therefore been forced to seek out an alternative means of payment. Our forefathers used their imagination and came up with a very surprising solution: stamp currency.
I – GAULT WITHOUT MILLAU
The first occurrence was in the mid-19th century during the American Civil War.
In 1862, the government authorized the use of postage stamps as a valid means of payment, provided it was for a sum of less than $5. The main issue was that stamp paper is very fragile and deteriorates quickly.
John Gault, an entrepreneur, thus invented and patented an ingenious creation known as the "encased postage stamp". He advertised his solution in a local newspaper and its use soon began widespread.
As stamps were increasingly being used for other pecuniary purposes, it eventually became difficult to frank mail.
In 1863, the US Government issued paper coins called “shinplasters” or fractional currency, which effectively compensated for the lack of cash, with the result that the use of stamps as a means of currency gradually waned.
Eventually, people began to retrieve the stamps from their metal cases and use them to send mail. Of the approximately 750,000 stamp coins produced, it is estimated that only around 5,000 have survived, making them extremely rare today.
II – GREAT WAR AND LITTLE MONEY
The second time that we were delivered (get it?) from the official currency and switched over to the postage stamp format was in 1920, in the aftermath of World War I.
The war had completely eroded national metal reserves, especially those of copper and brass, leaving wallets and purses devoid of small coins. The State was not minting new coins, and people were in need of a means to pay for their bread.
The concept of stamp currency resurfaced. While the State did not encourage or support its usage, nor did it prohibit it.
In France, stamps were initially used stored carefully in plastic pockets sealed with a label. However, the whole ensemble was very fragile and not particularly practical...
Time for a rethink (but of course!).
As in the first instance, it was an entrepreneur, Édouard Bouchaud-Praceiq, who came up with the solution and filed a patent under the pretty name of Fallait-Y-Penser (FYP).
It was thus only logical for the manufacturer FYP to dive into the production of the “new version” stamp currency: a stamp on the obverse side protected by a transparent capsule and an advertisement on the reverse.
The backing, around the stamp, is found in a variety of colors.
Chambers of commerce, municipalities, businesses – everyone got in on the act. Credit Lyonnais and other banks, newspapers, hotels, big brands such as Waterman and Pink pills, even – of course – small businesses. In total, around 250 companies made use of the system.
Moneta Francia
Porte-Plume, Waterman, Kirby, 5 Centimes, Timbre-Monnaie, SPL-
Combining the useful and the appealing, the object became a unique advertising medium.
From that point on, you could pay for your beer, chocolate, or even your chicory with a postage stamp.
Moneta Francia
Confiserie Socobas Biarritz, 5 Centimes, Timbre-Monnaie, SPL-
Collectors distinguish between two types manufactured by FYP:
Tin tokens with painted advertising
Aluminum tokens with embossed advertising
The stamps on the obverse side are of the semeuse (sower) type, with either a lignée (lined background) or camée (solid background) design.
The value of the stamps is the face value of the stamp, i.e., 5, 10, or 25 centimes.
Moneta Francia
Crédit Lyonnais, 25 Centimes, Timbre-Monnaie, BB, Alluminio
Around 1923-24, history repeated itself once more. Cash was being issued in sufficient quantities, peoples’ wallets filled up, and stamp currency was abandoned for a second time.
Rare and original in every way, it remains a true highlight...for collectors at least.
Addendum: It should be noted that several other countries were also using stamps as a form of currency at that time. In Russia, there were even stamps printed on the reverse to attest to their value as common currency.
Translation: Michael Wright
Illustrations :
- “Marie Brizard & Roger” (advertisement) by Rappini (19th century)(CC)
- “General Kearney’s gallant charge” by Augustus Tholey (public domain)
- “Encased postage stamp currency” – National Numismatic Collection at the Smithsonian Institution (CC)
- “Women operators” by George Agnew Reid (1919)(CC)
- Advertisement for the French liqueur Apry from Marie Brizard – Your Pal Dave (CC)
Sources :
