FREE: US Scott Catalog R67c 1862-1871 FIRST ISSUE - INTERNAL REVENUE $1 ENTRY OF GOODS - HAS HOLE AND THIN

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Revenue stamps feature the rich detail and historical importance of classic U.S. stamps for prices lower than the postal issues of the same years. Acquiring a collection of these seldom-seen stamps can be affordable.
When the Civil War erupted in 1861, the country was on the verge of bankruptcy. A plan was developed to generate internal revenue – money collected from taxes placed on many different items . Stamps were provided as proof of payment. Examining used U.S. Revenue stamps offers a window into the past – the government required several unusual cancellation techniques such as private cancels, manuscript initials and perforated initials. The Revenue Act of 1862, initially helped finance the Civil War, although the practice of using stamps to collect taxes persisted long after the conflict was over. [Then the US budget was balanced-think they will ever do it again?]Documentary Revenue Stamps were designed to be affixed to documents such as promissory notes, receipts, powers of attorney, and life-insurance policies etc.
The same legislation that created these stamps also created the Internal Revenue Service (IRS) and the Bureau of Engraving and Printing (BEP).
Revenue stamps were required for many taxable items – leading to a wealth of interesting stamps for collectors.