#RG49 – 1940 $1 Silver Tax, green, perf 11

Condition
Price
Qty
- Mint Stamp(s)
Usually ships within 30 days.i$265.00
$265.00
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 - Star Wars Droids 2021 55c Star Wars Droids

    In 2021, the United States Postal Service released 10 new Forever stamps picturing Star Wars droids. The stamps were created to honor these characters and the positive influence they've had on people.  Order your set today.

    $10.95- $64.95
    BUY NOW
  • Major League Baseball In Stamps, Mint, Set of 5 Sheets, Grenada Major League Baseball Stamp Set
    Includes four mint stamp sheets. Each stamp features a portrait of the featured player, plus an action shot and team logo. Fun to own… and a terrific way to recall your memories of these baseball giants.  Act now and save $30.
    $19.95
    BUY NOW
  • 2001-11 Symbols of America, collection of 16 stamps 2001-11 Symbols of America, collection of 16 stamps
    Filling the gaps in your collection is easy with Mystic’s 2001-11 Symbols of America Set.  You’ll get 16 desirable stamps in one convenient step – saving you time and money. 
    $5.25- $17.50
    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.