1847 US 5-Cent Franklin Stamp Value & Price Guide

On June 26, 1847, a printer in New York City sent word to the Postmaster General that a small parcel was ready for pickup. Inside were 600,000 tiny pieces of paper that would change American mail forever. Five days later, on July 1, the first general-issue United States postage stamps went on sale at the New York City post office. The five-cent denomination featured Benjamin Franklin. It was the birth of American philately, and the stamps that survived are now among the most sought-after in the world.

Quick Value Summary

Item: 1847 United States 5-Cent Benjamin Franklin (Scott #1) Year: 1847 Category: Stamps Printer: Rawdon, Wright, Hatch & Edson Quantity Printed: Approximately 3,712,200 Perforation: Imperforate

Condition Range:

• Used, pen cancel, cut to shape: $150 - $300

• Used, red grid cancel, four margins: $350 - $800

• Used, four large margins, Very Fine: $800 - $1,500

• Unused, no gum: $4,000 - $6,000

• Unused, original gum: $13,000 - $23,000

• On cover, single franking: $500 - $5,000+

• On cover, unused (uncanceled): $25,000 - $50,000+

Record Sale: An exceptional unused pair on original cover has sold for over $100,000 at major auction. Rarity: Uncommon (unused with gum is Rare; on cover with full margins is Very Rare)

The Story

Before 1847, paying for a letter in America was a confusing mess. Rates depended on distance and the number of sheets. Payment could happen at either end. Some postmasters in cities like New York and Providence issued their own stamps, known today as "postmaster provisionals." Congress finally stepped in on March 3, 1847, authorizing the Postmaster General to prepare national stamps.

Postmaster General Cave Johnson turned to Rawdon, Wright, Hatch & Edson, a New York banknote engraving firm whose regular clients were banks. The firm proposed printing in two colors at twenty-five cents per thousand stamps, but Johnson chose the cheaper one-color option at twenty cents per thousand. He selected Benjamin Franklin for the five-cent stamp and George Washington for the ten-cent.

Franklin was a deliberate choice. He had served as the first Postmaster General of the United States under the Continental Congress, appointed in 1775. Putting his portrait on the country's first stamp was a nod to postal history itself.

The engravers pulled stock dies from their banknote inventory rather than creating new ones from scratch. Trial color proofs were submitted, and Johnson chose brown for the five-cent and black for the ten-cent. On June 29, a special agent named John Marron arrived in New York to collect the finished stamps. By noon on July 1, the New York post office had 60,000 five-cent stamps ready for sale. The earliest known cover bearing the stamp is postmarked July 2, 1847, though stamps were almost certainly sold on the first day.

Marron then traveled to Boston (arriving July 2), Philadelphia (July 7), and back to Washington, distributing the stamps to post offices along the way. The stamps remained valid until July 30, 1851, when new lower rates made them obsolete. Customers could exchange unused examples for the new three-cent stamps through September 29, 1851. On December 12, 1851, officials witnessed the destruction of the printing plates.

How to Identify It

The 1847 five-cent Franklin is an imperforate stamp printed on thin, bluish wove paper. Here are the key markers:

• Design: A left-facing bust portrait of Benjamin Franklin within an oval frame. The words "POST OFFICE" appear across the top, with "FIVE CENTS" at the bottom.

• Color: The standard shade is red-brown, but the stamp exists in several recognized color varieties. Scott lists dark brown (1a), orange brown (1b), red orange (1c), and brown orange (1d). Additional shades exist but are not individually cataloged.

• Paper: Thin, slightly bluish wove paper with no watermark.

• Size: Approximately 20mm x 25mm for the design itself. Because the stamp is imperforate, margins vary based on how the stamp was cut from the sheet of 200.

• Cancellation: Most used examples bear either a red or blue grid cancel, a pen cancel, or a circular date stamp. Red cancels are most common and generally preferred by collectors.

Common Variations

• Color varieties: The dark brown shade (Scott 1a) commands a premium, typically 50-100% above the standard red-brown.

• Dot in "S" variety: Some stamps show a small dot within the letter "S" in "CENTS," caused by a plate flaw. This minor variety does not significantly affect value.

• Double transfer: Some impressions show evidence of doubled lines from the transfer roll, particularly around the frame. These can add modest premiums.

Watch Out For

• 1875 Reproductions (Scott 3): The government issued official reproductions in 1875 for the Centennial celebration. These are slightly different in color and impression quality. The reproduction tends to have a cleaner, sharper impression than originals. Scott catalog value for the reproduction is around $750 in unused condition.

• Modern forgeries: The imperforate format makes this stamp relatively easy to forge. Look for correct paper type (thin, bluish wove), proper impression depth, and consistent ink color. Professional authentication is strongly recommended for any example valued over $500.

Value by Condition

Used with Pen Cancel, Cut to Shape ($150 - $300)

The most common form you will encounter. Cut to shape means the stamp was trimmed along or inside the design border, removing any margins. Pen cancels, where a postmaster simply drew an "X" or lines across the stamp with ink, are less desirable than grid or handstamp cancels. These stamps are still 178 years old and represent the very first US postal issue.

Used with Grid Cancel, Four Margins ($350 - $1,500)

This is where most collector-grade examples fall. Four margins means clear space visible on all four sides beyond the design. Wider margins command higher prices. A red grid cancel is the most common and generally adds character without obscuring the design. Blue and orange-red cancels exist and can carry premiums. A stamp with four generous margins and a light cancel in Very Fine condition regularly brings $800 to $1,500 at auction.

Unused, No Gum ($4,000 - $6,000)

An unused example that has lost its original gum (or had it removed). Collectors accept this condition since many early stamps were stored in ways that damaged or removed adhesive. The stamp itself should be clean and well-centered.

Unused, Original Gum ($13,000 - $23,000)

This is the premium tier. Original gum means the adhesive applied at the time of manufacture is still present on the back. It does not need to be pristine. Lightly hinged examples (where a small paper hinge was once attached) are typical and expected at this age. Never-hinged examples are extraordinarily rare and would command significant premiums above catalog.

On Cover ($500 - $50,000+)

A stamp still attached to its original envelope or folded letter is called "on cover." This is where values get interesting. A basic used single on a domestic cover might bring $500 to $2,000. Covers with clear postmarks, legible addresses, and interesting destinations command more. Covers to foreign destinations are particularly prized. An unused stamp on cover, meaning the letter was somehow never mailed or the stamp escaped cancellation, can bring $25,000 to $50,000 or more depending on provenance. Pairs and strips on cover are museum-grade pieces.

Known Errors and Variations

The 1847 issue does not have the dramatic error varieties found in later stamps (no inverts or color errors). However, several collectible varieties exist:

• Pre-printing paper folds: Occasionally, the paper folded before printing, creating a blank area when unfolded. These are scarce and valued by specialists.

• Plate cracks and scratches: Wear on the printing plate over its production life created various minor plate varieties that specialists catalog extensively.

• Bisects: In rare cases, stamps were cut in half and each piece used as a 2.5-cent stamp. Genuine bisects on cover are very scarce and highly valued, typically $10,000 and up. However, many bisects are fabrications, so authentication is essential.

Authentication and Fakes

Fakes of the 1847 five-cent Franklin have existed almost as long as the stamp itself. The imperforate format and simple one-color design make it an attractive target for forgers.

Common fake indicators:

• Wrong paper type (too thick, too white, wrong texture)

• Ink color that does not match known shades

• Cancel applied over stamp damage to disguise faults

• Margins that have been added or widened by painting

• Reprints and reproductions (Scott 3, 3a) misrepresented as originals

Professional authentication is recommended for any example. The Philatelic Foundation (PF) and Professional Stamp Experts (PSE) are the two primary expertizing services for US stamps. Certificates from either organization significantly enhance resale value and buyer confidence. Authentication fees typically run $25 to $50 for stamps in this value range, though high-value items incur higher fees.

For unused examples or stamps on cover, certification is essentially mandatory. No serious buyer will pay four- or five-figure prices without a current expert certificate.

Where to Sell

The 1847 five-cent Franklin has a strong, established market with consistent demand.

• Major auction houses: Robert A. Siegel Auction Galleries, Daniel F. Kelleher Auctions, and H.R. Harmer specialize in classic US stamps. Consignment fees typically run 15-20% of the hammer price. For high-value items (unused, on cover), auction is almost always the best route.

• Stamp dealers: Established dealers will make outright purchase offers, typically at 40-60% of retail value depending on the item. Faster than auction but lower returns.

• Online marketplaces: eBay has an active market for used examples under $1,000. For higher-value stamps, the dedicated philatelic auction houses generally achieve better results.

• Grading costs: PSE grading for stamps in this value range runs approximately $25-$50 per stamp, with turnaround times of several weeks. Philatelic Foundation certificates are in a similar range.

• Insurance and shipping: For stamps valued at $1,000 or more, registered mail with full insurance is standard. Expect $20-$50 for insured shipping domestically.

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