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Okay, so now I have to ask (because my stamp collecting friend mentioned it)... how common is it to find one of these cancelled? Does this happen often or is it rare? (I don't mean like valuable-rare... I recognize that increasing the value of a stamp sheet by cutting it up is probably not a thing, but I mean like, "Huh, that's interesting," rare.)
As Revcollector stated, used examples are very common. As a rule, US stamps printed in the modern era (post 1940) are very common and have little value - even unused. In fact, mint stamps from this time period are readily available for less than face value. If you start buying kiloware (or whatever your collecting interest might be) online, you will almost certainly encounter sellers who use this type of postage on the mailings they send you simply because it's cheaper (and more colorful) to use older stamps (check out
ebay some time for listings of usused postage stamps available for ~50% of face value).
Brian