1998 32c Celebrate the Century,1920s: Stock Market
# 3184o - 1998 32c Celebrate the Century - 1920s: Stock Market
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3184o - 1998 32c Celebrate the Century - 1920s: Stock Market
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US #3184o
1998 Stock Market Crash 1929 – Celebrate the Century (1920s)
• Part of the third sheet in the Celebrate the Century stamp series issued from 1998-2000
• Recalls the infamous stock market crash of 1929
• Includes text on the back with historical details
Stamp Category: Commemorative
Series: Celebrate the Century
Value: 32¢ First Class Mail Rate
First Day of Issue: May 28, 1998
First Day City: Chicago, Illinois
Quantity Issued: 188,000,000
Printed by: Ashton Potter (USA) Ltd.
Printing Method: Offset, Intaglio
Format: Panes of 15
Perforations: 11.6
Tagging: Block Tagging
Why the stamp was issued: To mark the devastating stock market crash of 1929 and the end of the prosperity of the Roaring Twenties.
About the stamp design: Pictures a montage of images by Tom Mann. Includes the following text on the back “Stock market price plummeted on Black Thursday, October 24, 1929, and collapsed on October 29. Banks and businesses closed and the Great Depression soon followed.”
First Day City: The First Day of Issue Ceremony was held at Chicago’s Celebrate on State Street festival.
About the Celebrate the Century series: The USPS launched the Celebrate the Century series in 1998 to mark the end of the 20th century and herald the arrival of the 21st. The series includes 10 sheets of 15 stamps (150 in total), with each honoring important moments from a different decade (1900s, 10s, 20s, 30s, 40s, 50s, 60s, 70s, 80s, and 90s). At the time of completion, it was the longest and most ambitious commemorative stamp series in US history.
History the stamp represents: By the early 1920s, America was in an age of economic prosperity. Industry was booming, and Americans wanted to be a part of this economic surge. To accomplish this, they bought common stock on the open market, often borrowing money to do so. The average cost of each share more than doubled between 1925 and 1929, and market speculation increased. People purchased stock in hopes of future price increases.
The first clue that the market was overloaded came on October 24, 1929, now known as Black Thursday. Prices began to enter a slump, and investors became suspicious of a panic. Prices held Friday and Saturday but fell again Monday. On Tuesday, October 29th, the day fo the stock market crash, more than 16 million shares changed hands. Investors sold stock at far less than they had paid. Some witnesses said that shares might have even been given away.
It was almost impossible to add up all the losses, as stunned brokers watched stock prices plummet. In fact, stocks were traded so fast that by the time the final bell sounded at three o’clock, the ticker was four hours behind. By the end of the day, trading had stabilized, but not in time to save billions of dollars. Stock values continued to fall steadily for the next three years, though the Great Depression would last much longer.
US #3184o
1998 Stock Market Crash 1929 – Celebrate the Century (1920s)
• Part of the third sheet in the Celebrate the Century stamp series issued from 1998-2000
• Recalls the infamous stock market crash of 1929
• Includes text on the back with historical details
Stamp Category: Commemorative
Series: Celebrate the Century
Value: 32¢ First Class Mail Rate
First Day of Issue: May 28, 1998
First Day City: Chicago, Illinois
Quantity Issued: 188,000,000
Printed by: Ashton Potter (USA) Ltd.
Printing Method: Offset, Intaglio
Format: Panes of 15
Perforations: 11.6
Tagging: Block Tagging
Why the stamp was issued: To mark the devastating stock market crash of 1929 and the end of the prosperity of the Roaring Twenties.
About the stamp design: Pictures a montage of images by Tom Mann. Includes the following text on the back “Stock market price plummeted on Black Thursday, October 24, 1929, and collapsed on October 29. Banks and businesses closed and the Great Depression soon followed.”
First Day City: The First Day of Issue Ceremony was held at Chicago’s Celebrate on State Street festival.
About the Celebrate the Century series: The USPS launched the Celebrate the Century series in 1998 to mark the end of the 20th century and herald the arrival of the 21st. The series includes 10 sheets of 15 stamps (150 in total), with each honoring important moments from a different decade (1900s, 10s, 20s, 30s, 40s, 50s, 60s, 70s, 80s, and 90s). At the time of completion, it was the longest and most ambitious commemorative stamp series in US history.
History the stamp represents: By the early 1920s, America was in an age of economic prosperity. Industry was booming, and Americans wanted to be a part of this economic surge. To accomplish this, they bought common stock on the open market, often borrowing money to do so. The average cost of each share more than doubled between 1925 and 1929, and market speculation increased. People purchased stock in hopes of future price increases.
The first clue that the market was overloaded came on October 24, 1929, now known as Black Thursday. Prices began to enter a slump, and investors became suspicious of a panic. Prices held Friday and Saturday but fell again Monday. On Tuesday, October 29th, the day fo the stock market crash, more than 16 million shares changed hands. Investors sold stock at far less than they had paid. Some witnesses said that shares might have even been given away.
It was almost impossible to add up all the losses, as stunned brokers watched stock prices plummet. In fact, stocks were traded so fast that by the time the final bell sounded at three o’clock, the ticker was four hours behind. By the end of the day, trading had stabilized, but not in time to save billions of dollars. Stock values continued to fall steadily for the next three years, though the Great Depression would last much longer.