Overlooked by Many Collectors, High Value Stock Transfer Stamp Can Be Yours Today
New tax rates in 1940 put an end to Documentary overprints and gave Stock Transfer stamps their own designs. From 1940 to 1952, the issues featured portraits of US secretaries of the treasury. The lower denominations pictured older secretaries, while higher denominations were more recent.
The 1940-1952 Stock Transfer stamps were all issued in bright green with a black "Series" overprint and the year. Stamps continued to be canceled by punching or cutting holes into them.
From 1940 to 1952, high value Stock Transfer stamps ($30-$10,000) were issued in booklet panes of four. In 1940, the $30 to $1,000 stamps featured a "Series 1940" overprint, were perforated 12, and had a serial number.
In 1940, the $60 Stock Transfer stamp featured 22nd US Secretary of Treasury Howell Cobb. Cobb was a member of the House of Representatives for five terms and served as speaker of the House from 1849 to 1851. he was the governor of Georgia from 1851 to 1853, and was appointed secretary of the treasury by President James Buchanan in 1857. As a well-known Southern Democrat, Cobb was also a founding member of the Confederate States of America.