VERY FINE. A RARE EXAMPLE OF THE PROPOSED COLORS FOR THE 1890 ISSUE, SUBMITTED BY AMERICAN BANK NOTE COMPANY TO THE POST OFFICE DEPARTMENT WITH THEIR BID FOR THE CONTRACT FOR THE NEW STAMP SERIES.
The existence of these overprinted stamps was a mystery to early collectors, who first encountered them unattached to any document. In a December 31, 1896, article in The Daily Stamp Item (reprinted in Essay-Proof Journal No. 83), Hiram Deats wrote about the "discovery" of this proposal. The proposal for the 1890 Issue specified bids for stamps of present size (as shown here) and for stamps of smaller size (-3/4 inch by -7/8 inch). The 8c is not included, as this value was not issued until 1893. The 6c was later changed to a darker shade, so as not to be confused with the 90c. We are aware of two others attached to proposal notes, including one with some pairs instead of strips of five.
Scott Retail as singles ($3,750.00) does not in any way reflect the significance of the proposal notes.