It's an unusual - and some might say late use - but if the communication was official such as to an honorary degree recipient as one example - a wax seal would seem appropriate.
The seal says TREASURER as well. My guess is that it contained a financial instrument such as a check and the seal was a simple security measure to ensure it was not opened until it arrived in the addressee's hands. I do not think it would be especially uncommon if the purpose was to ensure it was not opened. I have seen such seals from different companies and organizations on registered mail as well, again to ensure against the letter or parcel from being opened.
When was the last time I saw a wax seal on an envelope?
I actually have a few sticks of sealing wax and a Mickey Mouse (!) seal that I got when I was a kid, back in the early 1970s. There's a store near me that still sells sealing wax and seals, as well as antique-style stationery and knickknacks. They even have a quill sharpening service!
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