#RG110 – 1944 3c Silver Tax, gray

Condition
Price
Qty
- Mint Stamp(s)
Ships in 1-2 business days.i$6.95
$6.95
- Used Single Stamp(s)
Usually ships within 30 days.i$1.95
$1.95
- Unused Stamp(s) (small flaws)
Ships in 1-2 business days.i$5.95
$5.95
Silver tax stamps were authorized by Congress on June 19, 1934, pursuant to the Silver Purchase Act of 1934. As a measure to stabilize the US economy and to prevent runs on banks, in the aftermath of the Great Depression, the Gold Standard was abolished in 1933, and all gold bullion and gold coins in private hands were recalled.  The government then feared that people would start hoarding silver bullion, causing further runs on US banks.

In order to curb the hoarding of silver bullion, the Silver Purchase Act of 1934 established the Silver Standard, called for the government to establish silver reserves to backup the silver certificate banknotes in circulation, and called for the cessation of the minting of silver dollar coins.  The act also imposed a 50% tax on the profit realized on any transfer of silver bullion occurring after May 15, 1934 and provided for the use of silver tax stamps.

The new silver tax stamps were attached to transfer memorandums, indicating the payment of the federal silver tax.  From 1934 to 1940, documentary revenue stamps were overprinted "SILVER TAX".  New silver tax stamps were first produced in 1941.
Read More - Click Here


  • 2021 First-Class Forever Stamps - Garden Beauty 2021 First Class Forever Stamps - Garden Beauty

    In 2021, the United States Postal Service anticipated the arrival of spring with a new set of 10 Forever stamps honoring Garden Beauty.  Order yours today!

    $10.95- $64.95
    BUY NOW
  • Pre 1900 Fancy Cancels  May Include Targets, Stars, Numbers, or Grids. Set of 5 with small imperfections Pre 1900 Fancy Cancels
    Since they first appeared in the 19th century, fancy cancels have been extremely sought-after by collectors.  Act now to add five of these to your collection.  Stamps may vary, but that's half the fun!
    $12.95
    BUY NOW
  • 1950s First Day Covers, Collection of 100 1950s First Day Covers, Collection of 100
    Some of the stamps I saw in my set of 100 covers honored the American flag, Alexander Hamilton, Religious Freedom, Overland Mail, NATO, and more.  This money saving offer saves you over $90!  Order your set today.
    $89.95
    BUY NOW

Silver tax stamps were authorized by Congress on June 19, 1934, pursuant to the Silver Purchase Act of 1934.

As a measure to stabilize the US economy and to prevent runs on banks, in the aftermath of the Great Depression, the Gold Standard was abolished in 1933, and all gold bullion and gold coins in private hands were recalled.  The government then feared that people would start hoarding silver bullion, causing further runs on US banks.

In order to curb the hoarding of silver bullion, the Silver Purchase Act of 1934 established the Silver Standard, called for the government to establish silver reserves to backup the silver certificate banknotes in circulation, and called for the cessation of the minting of silver dollar coins.  The act also imposed a 50% tax on the profit realized on any transfer of silver bullion occurring after May 15, 1934 and provided for the use of silver tax stamps.

The new silver tax stamps were attached to transfer memorandums, indicating the payment of the federal silver tax.  From 1934 to 1940, documentary revenue stamps were overprinted "SILVER TAX".  New silver tax stamps were first produced in 1941.