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Examples Of Redeemed Rev Stamped Paper?

 
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Posted 01/19/2019   5:58 pm  Show Profile Bookmark this topic Add GregAlex to your friends list Get a Link to this Message
I've posted this elsewhere, regarding the reimbursed RN-U1 on this stock certificate, but I still find it intriguing. I've never seen any similar imprints of "Revenue Stamp Presented for Redemption" (along the right border) and "Stamp Redeemed" on the stamp itself.

It makes sense that once the tax was lifted the C&SW Rwy would want their money back for the unused revenue imprints. But with so much revenue stamped paper it seems very likely that similar securities or checks would exist from other banks and businesses. Are there more examples out there?





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Edited by GregAlex - 01/19/2019 6:02 pm

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Posted 01/20/2019   08:57 am  Show Profile Bookmark this reply Add m and m to your friends list  Get a Link to this Reply
while not exactly common these thingds show up from time to time. I have seen them mostly on checks. it is a nice document and thanks for showing it.
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Posted 01/22/2019   10:14 am  Show Profile Bookmark this reply Add GregAlex to your friends list  Get a Link to this Reply
I'd be interested in seeing any checks with similar imprints. Can anybody post an example?
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Posted 01/22/2019   11:48 am  Show Profile Bookmark this reply Add revcollector to your friends list  Get a Link to this Reply
There are several here, they are not especially scarce.

https://www.ericjackson.com/rSearch...Group=&cond=
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Posted 01/22/2019   11:54 am  Show Profile Check ericjackson's eBay Listings Bookmark this reply Add ericjackson to your friends list  Get a Link to this Reply
You will find the same handstamps on two other stock certificates of this railroad, the brown certificate for 50 shares and the blue certificate that is blank for writing in the number of shares.

I have 75 different stamped paper items on my website with various forms of Stamp Redeemed, either handstamps, printed, or in the case of type X, a drilled hole.

Eric
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Posted 01/22/2019   3:56 pm  Show Profile Bookmark this reply Add John Becker to your friends list  Get a Link to this Reply
Interpretations of this item:

One: Twice punched "B" to redeem the revenue when the bank closes (or changes names or whatever), then the 2 cent battleship needs to be added in order to use the check while the tax was still ongoing.

or Two: Raub gets the check which he signs over to the Box Co on the same day and pays a second tax - note *his* initials on the battleship, and not those of the original check writer. Is a second tax payment due?

or Three: ?

Comments?



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Edited by John Becker - 01/22/2019 4:23 pm
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Posted 01/22/2019   7:37 pm  Show Profile Bookmark this reply Add revenuermd to your friends list  Get a Link to this Reply
John Becker - I do not believe that the B punches have anything to do with redemption of the 2 imprint. Redemption only begins in 1902 when the tax is eliminated. This is an example of the second transaction being properly taxed.
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Ron Lesher
Edited by revenuermd - 01/23/2019 05:30 am
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Posted 01/23/2019   10:14 am  Show Profile Bookmark this reply Add revinmn to your friends list  Get a Link to this Reply
Actually, redemption of the Spanish American War imprints began after June 30, 1901. You won't see any examples with the redeemed circular punch dated in 1901, though, as the IRS did not have the authorization to send redeemed checks back to the owners. They were piled up in the IRS offices until 1902 when permission to return them with appropriate "marking" to prevent their re-submission was granted.

The punch holes on that check are some sort of bank cancellation.

I'd say that the battleship revenue is on the check because the payee thought it was needed due to the check being endorsed over to another party. Since one can find many examples of checks endorsed one or more times, I think the payee was mistaken.

The IRS decisions for 1898, 1899, 1900, and so on are available online, and I can't find anything in them pointing out that an endorsement is considered a taxable transaction. One would think that something so basic would be covered if large amounts of tax revenue were being lost through un-taxed endorsements.
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Posted 01/23/2019   4:35 pm  Show Profile Bookmark this reply Add GregAlex to your friends list  Get a Link to this Reply

Quote:
I have 75 different stamped paper items on my website with various forms of Stamp Redeemed, either handstamps, printed, or in the case of type X, a drilled hole.


Thanks for your post, Eric, and that's a very interesting collection on your site. So redeemed imprints are fairly common, especially on checks. I will be on the lookout now.

One example on your site is a surprise. This check from July 1873 has a redeemed imprint, but wasn't the tax still in effect at that time?

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Edited by GregAlex - 01/23/2019 4:35 pm
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Posted 01/23/2019   8:09 pm  Show Profile Bookmark this reply Add revinmn to your friends list  Get a Link to this Reply
The certificate of deposit tax was repealed as of October 1, 1872.

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Posted 01/24/2019   7:18 pm  Show Profile Bookmark this reply Add GregAlex to your friends list  Get a Link to this Reply
Thanks, revinmn -- I should have looked more closely at that item; not every check is really a check.

Is there a list somewhere of when the various taxes ended, related to revenue stamped paper?
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Posted 01/24/2019   7:38 pm  Show Profile Bookmark this reply Add revinmn to your friends list  Get a Link to this Reply
When in doubt, I go to Mike Mahler's United States Civil War Revenue Stamp Taxes for the Civil War material. I have downloaded all of the 1898, 1899, 1900, 1901 and 1902 decisions of the IRS for the Spanish American War dates and more.

Basically, the taxes on receipts were ended as of October 1, 1870, but there were no special redemptions available. One can see companies using up their stamped paper receipts well into the next few years - cheaper to swallow the unused tax than send in the receipts for the tax money and not get them back.

Certificates of deposit and most other documentary taxes ended as of October 1, 1872. Certificates could be redeemed and there was still eleven years of taxes on checks and drafts payable at sight for the owners to use those up,

All of the Civil War documentary taxes were repealed as of July 1, 1883. You will see stamp redeemed on a lot of Type G stamped paper. And that was done quickly - I have a documented use of a redeemed check in August, if memory serves.

Taxes on most documents for the Spanish American War ended as of July 1, 1901. For checks and drafts not payable at sight and some other documents they continued until July 1, 1902.
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