1908 US $1 Washington (Scott #342): The Key Value of the 1908 Series

The 1908-09 Washington-Franklin series was the workhorse of US postage in the early 20th century, and among its highest-denomination stamps, Scott #342 (the $1 value from the 1908 series, violet-brown on double-line USPS watermark paper) stands as a particularly collectible and sometimes challenging stamp to find in top condition.

The Washington-Franklin Series: Background

The Washington-Franklin definitive series is one of the most extensively studied and collected sets in US philately. Running from 1908 through 1922 in various denominations, watermark types, perforations, and printings, the series offers hundreds of major and minor varieties that can sustain a lifetime of collecting focus.

The 1908 first issue was the inaugural installment, distinguished by the double-line "USPS" watermark visible when held to light. Subsequent printings used different watermarks (single-line USPS, then no watermark), and perforations varied between flat plate and coil stamps.

The $1 denomination (Scott #342) was required for heavy mail and high-value registered packages. As a practical postage item, it was used but not casually, meaning surviving used copies with clean cancellations exist but are less common than lower denominations.

Identifying Scott #342

Key characteristics:

• Color: Violet-brown (sometimes described as deep violet-brown in well-preserved copies)

• Watermark: Double-line "USPS" watermark (requires holding to strong backlight to see)

• Perforation: Perf 12

• Design: Profile portrait of George Washington, large-format stamp

The double-line watermark is the definitive variety identifier. Without watermark identification, the stamp could be confused with later issues.

Condition Grades and Value

Note: Never-hinged (NH) premiums are very substantial for this era. Most surviving unused copies were stored with hinges, making true NH examples significantly scarcer and more valuable.

Centering Challenges

Like most stamps of this era printed on flat plate presses, the $1 Washington frequently shows shifted perforations. The stamp was printed in large sheets and then perforated in a separate operation; any misalignment creates off-center copies.

Well-centered examples with equal margins on all four sides in VF or better grade are genuinely scarce and command premiums over catalog value. XF (extra fine) centered copies in NH condition represent the top of the market for this stamp.

Gum Conditions

Gum assessment is critical for Washington-Franklin era stamps:

OG NH (Original gum, never hinged): Highest value. Rarest condition for this era.

OG lightly hinged (LH): Original gum present with only a light hinge remnant. Desirable.

OG (OG, hinged): Original gum with hinge remnant. Standard for the era.

No gum (NG): Original gum removed. Significant discount from OG values.

Regummed: Replacement gum applied post-issue. Detected by specialists; treated as no-gum for value purposes.

Used Copies

Used examples of Scott #342 with clear, non-manuscript cancellations (CDS preferred, flag cancel acceptable, socked-on-the-nose cancels the most desirable) are collectable in their own right. Well-centered used copies in Fine or better condition with attractive cancellations are desirable to postal history collectors as well as stamp collectors.

Building a Washington-Franklin Collection

The $1 value represents the upper denomination challenge in building a complete 1908 issue set. Most collectors pursue the complete set in matched condition grades, making the $1 the key acquisition. Collecting the full series in NH condition is an extremely ambitious (and expensive) goal; building in lightly hinged or original gum condition is more accessible while still maintaining significant philatelic merit.

Browse all Stamps ->

Related Items