J. Gault, New York N.Y., 24c Violet, Plain Frame (EP99). Stamp with rich color, mica beautifully intact, case in excellent condition

EXTREMELY FINE. A CHOICE EXAMPLE OF THE 24-CENT GAULT ENCASED POSTAGE STAMP.

During the Civil War, in response to speculation and hoarding, all forms of coins — silver, gold and even copper-nickel — disappeared from circulation, making transactions of one or two dollars difficult. Postage stamps, with a face value good for a government service, helped fill the void, but the use of stamps as currency was impractical, because the paper and gum made handling difficult. Postage envelopes were printed to hold stamps, but these paper envelopes were also problematic. John Gault, seeing opportunity, filed his patent for a “Postage Stamp Case” on July 24, 1862. A few weeks later, on August 12, he was granted patent No. 1627. Gault’s “New Metallic Currency” was promoted through Horace Greeley’s Tribune and other newspapers, and they soon became not only a form of currency, but an advertising medium for merchants, hotels and other businesses.

With 2000 A.N.A. certificate

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