Golden Oak Online Auctions LLC

Auction 21

Lot 499

Adams & Co.'s Express, 1854, 25¢ black on pink (Scott 1L3), cardboard with all margins well clear of the design, Very Fine to Extremely Fine.
Scott $30.
Estimate $20 - 30

Probably the earliest instances of postage stamps being made to serve as currency are the local stamps issued by Adams & Co.'s Express of California in 1854. The issued several stamps, all in denominations of 25¢, and as small coins were rare on the Pacific Coast in the gold rush era, these stamps were frequently used for currency. The 25¢ black stamp, Scott's #1L3 was purposely printed on a think, pink cardboard for this reason, and many thousands of them were sold and employed solely as currency. This stamp also found widespread usage as a poker chip. The company realized a large profit from their sales and comparatively few were ever presented for redemption. The California branch of the Adams Co. went into bankruptcy in October 1855 as a result of financial crisis in the West.

Realized $45

Prior Lot

Next Lot

Current Chapter

Table of Contents