1847 US 5¢ and 10¢ First Issue Stamps Value & Price Guide

On July 1, 1847, the United States Post Office put stamps on sale for the first time. There were only two: a 5-cent stamp featuring Benjamin Franklin and a 10-cent stamp featuring George Washington. You could buy them at the New York City post office starting that morning. By the end of the day, the way Americans sent mail had changed forever.

Before 1847, postage was usually paid by the recipient, not the sender. The amount depended on how far the letter traveled and how many sheets of paper it contained. Postmasters calculated fees on the spot. It was slow, inconsistent, and expensive. The new stamps simplified everything. Stick a 5-cent Franklin on your letter and it would travel up to 300 miles. Need to go farther? Use the 10-cent Washington.

Quick Value Summary

Item: 1847 US First Issue Postage Stamps
Year: 1847
Printer: Rawdon, Wright, Hatch & Edson (New York)
Category: Stamps

5-cent Benjamin Franklin (Scott #1):
  Used, average condition: $400 - $600
  Used, fine condition: $600 - $1,000
  Used, very fine: $1,000 - $1,500
  Unused (mint): $2,500+
  On original cover: $500 - $5,000+ (depending on use)

10-cent George Washington (Scott #2):
  Used, average condition: $750 - $1,000
  Used, fine condition: $1,000 - $2,000
  Used, very fine: $2,000 - $3,500
  Unused (mint): $10,000+
  On original cover: $1,000 - $10,000+

Rarity: Uncommon (5¢) to Rare (10¢, especially unused)

The Story

The idea wasn't new. Great Britain had introduced the Penny Black in 1840, seven years before America's first stamps. Brazil followed in 1843. By 1847, the US was actually behind the curve. But American politics moved slowly. Congress had been debating postal reform since the early 1840s, and it took an act signed on March 3, 1847, to finally authorize the Postmaster General to "prepare postage stamps."

Postmaster General Cave Johnson contracted with the New York engraving firm of Rawdon, Wright, Hatch & Edson to produce the stamps. Johnson chose the subjects himself: Benjamin Franklin, the first Postmaster General (appointed by the Continental Congress in 1775), for the 5-cent denomination, and George Washington for the 10-cent.

The firm used existing portraits. Franklin's image was based on a painting, and Washington's was adapted from a Gilbert Stuart portrait. The stamps were printed in sheets of 200 (two panes of 100) using flat-plate engraving on thin, bluish wove paper. They were imperforate, meaning post office clerks had to cut them apart with scissors or a knife.

The 5-cent stamp paid the letter rate for distances up to 300 miles (for a half-ounce letter). The 10-cent stamp covered distances over 300 miles. These rates had been set by the Act of 1845, which had dramatically reduced postal charges from the previous distance-based system.

Production numbers:

• 5-cent Franklin: Approximately 3,712,200 stamps were printed between 1847 and 1851.

• 10-cent Washington: Approximately 891,000 stamps were printed.

The stamps remained in use until July 1, 1851, when a new series replaced them. Unused remainders were exchangeable for the new stamps, and many were turned in, making unused examples (especially of the 10-cent) quite scarce today.

How to Identify Them

5-cent Franklin (Scott #1):

• Color: Red-brown (ranging from light red-brown to dark brown)

• Design: Portrait of Franklin facing left in an oval frame

• Text: "POST OFFICE" at top, "FIVE CENTS" at bottom

• Paper: Thin, slightly bluish wove paper

• Imperforate (no perforations; margins should show where stamps were cut apart)

• Size: Approximately 20mm x 25mm

10-cent Washington (Scott #2):

• Color: Black

• Design: Portrait of Washington facing left in an oval frame

• Text: "POST OFFICE" at top, "TEN CENTS" at bottom (note: later US stamps say "POSTAGE" instead of "POST OFFICE")

• Same paper and size specifications as the 5-cent

Key identification detail: The 1847 stamps say "POST OFFICE" at top. The 1851 and later stamps say "U.S. POSTAGE" or just "POSTAGE." This is the quickest way to distinguish the first issue from later stamps.

1875 Reproductions: In 1875, the Post Office created reprints of both stamps as souvenirs for the US Centennial celebration. These reproductions are collectible in their own right:

• 5-cent reproduction: $750 mint

• 10-cent reproduction: $900 mint The reproductions were printed from new plates that closely copy the originals but have minor differences that specialists can identify. The paper is whiter and slightly thicker than the originals.

Value by Condition

5-cent Franklin (Scott #1)

Used, average condition: $400 - $600 Visible cancel, margins cut close or into the design on one or more sides. Some toning or soiling. This is the most affordable way to own America's first stamp. Most examples at this level have heavy pen cancels or smudged handstamps.

Used, fine condition: $600 - $1,000 Clear margins on at least three sides, readable cancel that doesn't obscure the design. Good color. Clean paper without significant staining.

Used, very fine: $1,000 - $1,500 Four clear margins, light cancel, excellent color and paper condition. Well-centered within whatever margins exist (centering is a significant factor for imperforate stamps).

Unused (mint): $2,500+ Original gum (if present) adds value. Most "unused" 1847 stamps have lost their gum over 175+ years. An unused 5-cent with original gum in fine condition: $3,000-$5,000.

On original cover: $500 - $5,000+ A stamp still attached to its original envelope ("cover" in philatelic terms) is often worth more than a stamp alone, especially if the postmark, destination, and other markings add historical interest. Covers to unusual destinations, with multiple stamps, or with rare postmarks can be worth $5,000-$20,000+.

10-cent Washington (Scott #2)

Used, average condition: $750 - $1,000 The 10-cent is scarcer than the 5-cent due to lower printing quantities. Average used examples start higher.

Used, fine condition: $1,000 - $2,000 Good margins, readable markings, clean appearance.

Used, very fine: $2,000 - $3,500 Four margins, light cancel, strong black color (some examples have faded to gray).

Unused (mint): $10,000+ Genuinely rare. Fewer than a few hundred unused examples are believed to survive. With original gum: $15,000+.

On original cover: $1,000 - $10,000+ The 10-cent paid the over-300-mile rate, so covers tend to show long-distance routing, which adds historical interest.

Condition Factors for Stamps

Stamp grading differs from coin or comic book grading. Key factors:

• Margins: Since 1847 stamps were imperforate, the margins (space between the stamp design and the cut edge) are critical. Four even, wide margins dramatically increase value. Cut-into designs reduce value substantially.

• Centering: The design should be centered within the margins. Off-center stamps are less valuable.

• Color: Fresh, strong color is preferred. The 5-cent should be a clear red-brown. The 10-cent should be deep black.

• Cancel type: Light cancels are preferred. Heavy pen cancels reduce value. Red cancels (which complement the stamp color) are actually valued for 5-cent examples.

• Paper condition: No thins (areas where paper has been scraped away), tears, or creases. Some toning is expected for 175-year-old stamps.

Authentication and Fakes

Reproductions vs. originals: The 1875 reproductions are clearly identified as such by experts but can fool casual collectors. Key differences are in the paper quality and subtle design details.

Cut-down stamps: Some stamps that appear to have four margins may actually have been trimmed from a pair or block, with added margins. Expert examination under magnification can reveal this.

Repaired stamps: Tears, thins, and margin additions can be repaired and are sometimes difficult to detect without expert examination.

Color changelings: Stamps whose color has been chemically altered to resemble rarer varieties.

Professional certification through the Philatelic Foundation or American Philatelic Expertizing Service is recommended for any 1847 stamp, especially for values above $500. Expert certificates typically cost $30-$75.

Where to Sell

Auction houses: Robert A. Siegel Auction Galleries is the premier US stamp auctioneer. Heritage Auctions also handles stamps. For better examples, auction competition drives prices.

Dealers: American Stamp Dealers Association (ASDA) member dealers buy quality US classics. Expect 60-80% of retail for a quick sale.

Online: eBay has an active stamp market, though buyer skepticism for high-value stamps without expertization certificates can suppress prices. HipStamp is a specialist platform.

Selling costs: Philatelic Foundation certificate: $30-$75. Auction house commission: 10-20%. Insured shipping: $10-$30.

Not sure what you have? Upload a photo to Curio Comp for a preliminary evaluation.

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