1870 National Bank Note Issues (Grilled, 1-90 Cent): America's First Federal Stamp Series

The stamps of the early 1870s occupy a special place in American philately: they were produced during a period of rapid change in printing technology and postal policy, they include some of the scarcest legitimate rarities in the entire US catalog, and they document the faces of American statesmanship in a format that has survived 150 years of handling, glue, and postal machinery.

The 1870 National Bank Note Company issues (Scott catalog numbers 134-166, with grilled varieties) represent one of the most studied and collected series in classic US philately.

Background: The National Bank Note Company Contract

After the Civil War, the United States federal government consolidated its stamp printing contracts. The National Bank Note Company, which had produced stamps during the war era, won a new contract in 1870 and produced stamps through approximately 1873.

The 1870 series covered the full range of postal rates then in use: 1 cent (for carrier service), 2 cents (the common letter rate for a time), 3 cents (the standard domestic letter rate), 6 cents, 7 cents, 10 cents, 12 cents, 15 cents, 24 cents, 30 cents, and 90 cents. The designs featured portraits of American presidents and founding figures.

The grill, for which collectors watch carefully, was a pattern of small points embossed into some stamp issues of the 1860s and early 1870s. The grill's purpose was to break the paper fibers and allow the cancellation ink to penetrate more deeply, making stamps harder to wash and reuse fraudulently. Grilled varieties of the 1870 issue exist but are considerably scarcer than the non-grilled stamps.

The Grill Question

Collectors and dealers make an important distinction:

Scott 134-144: The 1870 issue with no grill (the main series) Scott 112-122: The "G" grill varieties of slightly earlier printings Scott 123-133: The "H" and "I" grill varieties

For the 1870 National Bank Note issues specifically, the grilled varieties (when they exist) are generally more valuable and more scarce than the non-grilled printings. Some denominations in grilled form are genuinely rare philatelic items.

Key Denominations and Values

Values shown are for fine-to-very-fine examples with original gum:

Scott #	Denomination	Subject	Non-Grilled	Grilled
134	1 cent	Benjamin Franklin	$50 - $150	$300 - $800
135	2 cents	Andrew Jackson	$100 - $300	$500 - $1,500
136	3 cents	George Washington	$30 - $100	$200 - $600
137	6 cents	Abraham Lincoln	$400 - $1,000	$2,000 - $5,000
138	7 cents	Edwin Stanton	$800 - $2,000	$3,000 - $8,000+
139	10 cents	Thomas Jefferson	$700 - $1,800	$3,000 - $7,000
140	12 cents	Henry Clay	$1,500 - $4,000	Very rare
141	15 cents	Daniel Webster	$2,000 - $5,000	Extremely rare
142	24 cents	Gen. Winfield Scott	$2,000+	Extremely rare
143	30 cents	Alexander Hamilton	$2,500+	Extremely rare
144	90 cents	Oliver Perry	$4,000+	Major rarity

The 90-cent denomination (Scott 144) in any condition commands serious money. In used fine-very fine condition, it starts around $1,000; mint examples with original gum are prized by major collections and sell at $4,000 or considerably more. Grilled 90-cent stamps, if they exist in authenticated form, are major philatelic rarities.

Condition Grading in 19th-Century US Stamps

Condition is paramount in classic US philately, and the language differs somewhat from modern collectibles grading:

Superb (90-100): Perfectly centered, full original gum (OG), brilliant color, no faults. Commands multiples of catalogue value.

Extremely Fine (80-85): Well-centered, full OG or at least NH (never hinged), excellent color. Strong premiums.

Very Fine (75-80): Standard centering for the issue (which was often poor), good color, no faults. This is the baseline "good" grade.

Fine-Very Fine (70-75): Slightly uneven centering but still pleasant. Catalog values typically correspond to this grade.

Fine (60-70): Clearly off-center on one side. Still collectable. Often 50-75% of catalog value.

Very Good (50-60): Obviously off-center, possibly with minor faults. 30-50% of catalog.

Good and below: Heavy centering problems, faults. For specialists only.

Gum categories: OG NH (never hinged) is the premium state. OG HR (hinge remnant) is acceptable and much more common for 1870s material. No gum (NG) copies are significantly discounted.

Perforations and Varieties

The 1870 National Bank Note issues were perforated 12, which was the standard US perforation of the era. Poorly separated perforations and short perf teeth are common and are factored into grading.

Secret marks exist on several denominations, introduced to help identify the printing firm's work and to discourage counterfeiting. The Scott catalog documents these marks, and their presence (or absence on fake stamps) is an authentication tool for specialists.

Buying and Selling

For stamps of this age and value, certification by a recognized expertization service is strongly recommended:

• PSE (Philatelic Stamp Experts) — the leading grading service in US philately

• PF (Philatelic Foundation) — the traditional certification body for classic US material

• APEX (American Philatelic Expertizing Service) — affiliated with the American Philatelic Society

For denominations worth $500 or more, the cost of a certificate (typically $20-$100 depending on value) is worthwhile insurance against forgeries and repaired faults.

Major stamps of this era can be found at H.R. Harmer, Robert A. Siegel Auction Galleries, Cherrystone Auctions, and direct from specialized philatelic dealers who focus on classic US.

The 1870 National Bank Notes are a window into the immediate post-Civil War United States — the faces on the stamps are figures who shaped the republic's first century, and the stamps themselves were handled by hands that had lived through that history. For collectors of classic US material, assembling a fine-to-very-fine set represents a serious but achievable project in one of philately's most storied chapters.

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