What Is A Circiut Book?

While looking through an online auction this topic comes up "RETIRED APS CIRCUIT BOOKS", so what is it?

There is a pdf file that describes Circuit books. They seem to be part of an approval system, where the book is passed on from person to person, each removing the stamps they are interested in, marking it with their stamp, and passing it along to the next person in line.

http://www.stamps.org/services/imag...gselling.pdf

They are books that collectors place stamps & covers in to be sold via the APS sales area. Basically there is a list of members and whomever receives the book goes thru it, takes out the stamps they want to purchase, places their initials in the now empty space, sends payment to the aps, and then forwards the book to the next person insured. It just continues on until the end of the list and then it goes back to APS. I hope that helps.

In the past, local clubs also used circuit books. When I was in school, we would send around circuit books. As mentioned, for stamps we removed, we would initial that spot. If we had any stamps for sale, we would hinge them into the book. Whoever had the book when our next meeting was scheduled would bring in the book at which time we would "pay our bill" and "receive" what was due us. Then we would start all over again.