1942 $1 War Savings stamp, gray black, unwatermarked

War Savings stamps were issued by the Treasury Department.  Several organizations, including the U.S. Post Office, sold War Savings stamps to help fund World Wars I (1917-18) and II (1942-45).  The success of the programs reflect determination of average Americans to support the war efforts.

War Savings stamps issued during World War I were available in 25¢ and $5 denominations.  The $5 War Savings stamp cost $4.12 when issued and increased one cent each month until maturity.  The Boy Scouts of America alone sold $53 million War Savings stamps during World War I.

Children were encouraged to purchase the 25¢ stamps and provided with a special card to paste 20 stamps.  Completed cards could be exchanged for a $5 War Savings stamp by paying the difference between their $4 value and the current price of the $5 stamp.

Denominations of 10¢, 50¢, and $1 were added during World War II.  The War Savings stamps of World War II were redeemable in the form of U.S. Treasury War Certificates, Defense Bonds, or War Bonds.