Check Collecting - By: Don Woodworth

Check Collecting

There is a strong market for old checks – yes, the same kind that you are used to writing every day. In fact, there are really two closely related and highly complementary markets that open up two very different worlds for collectors.

The first market is that for just plain used checks that are perhaps 25 or so years old and which bear an interesting design, logo, illustration, or perhaps even the signature of a noted personality.

The second market is for checks that are even older and which date from the time of the American Civil War through the period following World War I and which bear adhesive revenue stamps or, in the case of late and post-Civil War and Spanish American War periods, revenue stamp designs which were actually printed on the check itself in addition to any interesting design which the check might also bear.

Many checks in either category can be bought from $1-15 dollars, but can range considerably higher depending on the design of the check itself, the type of stamp affixed or printed on it, and the signature of the person making the check.

Checks can be collected in many different ways. Since the area is so vast, collectors are almost forced to decide what they want to collect and how they want to collect it. Most collectors of checks in the United States collect those of their own country but there is absolutely no reason not to collect the checks of other countries as well. Whether or not checks bear revenue stamps, they can be collected in many ways:

1. Noted Personalities. As the title implies, one can collect the names of famous people from any period in history during which checks were issued – either those of the United States or of other countries. Look for actors, celebrities, military figures, politicians, sports figure, etc. Be aware that sellers of checks also look for these things and expect to pay more for a check bearing the name of someone famous. On the other hand, if one has intimate knowledge of their particular field of interest, it is sometimes possible to find “sleeper” material and come up with a good deal because it is impossible for the dealers or anyone else to know everything about everything.
2. Thematic – Industry and Commerce. Railroads are always a popular area. Ships are another, as are manufacturing, mining, banking, insurance, farming, weapons, etc. Many such checks bear wonderful scenes (usually referred to as “vignettes” by collectors). Such checks invariably command premiums over their plainer brethren.
3. Vignette. Vignettes are mentioned above. They greatly enhance the eye appeal of a check. Rather than trying to collect all checks associated with a specific industry, some collectors concentrate on just those checks bearing attractive vignettes of a topic that appeals to them. Animals and birds are popular themes, as are people and allegorical figures.
4. State or Town. Many people like to specialize in checks issued in their state or even their home town. The span of time involved can range from when checks were first issued to the present, or can be circumscribed in time – such as concentrating only on the four year period of Spanish American War taxation. Checks from some states, ex. New York and Pennsylvania, are fairly common. Those from other states, ex. Arkansas, are not particularly common and present challenges of their own.
5. Family Association. If one comes from a large extended family that has lived in a given area over a long period of time, the acquisition of related checks could become a rewarding combination of collecting and genealogy.
6. Type of Stamp. Many checks were taxed by the government of the United States to help raise revenue to fight the various wars of the country. The same principle was applied in many other countries as well. Addressing just the United States, checks were generally assessed a fee of two cents during and after the Civil War; during the Spanish American War, and during the period of World War I. It is thus possible to find checks bearing revenue stamps (used specifically to pay a tax and not valid for postage) or with the revenue stamp printed on the check (referred to as revenue stamped paper {RSP}).

This is a cross-over area that can be enjoyed by those who just wish to collect checks, those who just wish to collect stamps, or for those that enjoy the combination of both. If one intends to collect in this area, they need to become familiar (for United States checks) with the Scott Specialized Catalog of United Stamps and Covers (issued annually) and the Castenholz and Sons Field Guide to Revenue Stamped Paper. The Castenholz guides break out RSP by state and by type (as described in the Scott catalog) within each state. Castenholz prices are now outdated but do give an idea of relative worth.

If interested in checks, the best place to look for information on getting started is the American Society of Check Collectors (ASCC). The ASCC is a non-profit-organization of collectors of checks and other financial documents. It unites those interested in this collecting area and assists them with sources of information on collecting and research.

The Society has appeal not only for the check collector, but also those interested in revenue stamps and revenue stamped paper, vignettes and engravings used on fiscal documents, history, security printers, and stock and bond certificates. The ASCC offers a superb resource for revenue stamp collectors wishing to learn more about the laws governing usage of these stamps on checks and revenue stamped paper, and the history of many of the firms that used these taxed checks.

Readers wishing to learn more about the ASCC and its resources, equally available to stamp collectors as well as check collectors, should visit the ASCC web site at: http://asccinfo.com. Membership is only $15.00 a year and includes a subscription to The Check Collector – issued quarterly.

Those interested in stamps as well as checks would profit from membership in The American Revenue Association (ARA). Membership is $21.00 a year, including a subscription to The American Revenuer – issued 10 times a year. The ARA website is at http://www.revenuer.org.

Discussion of collecting cancelled checks, cancelled checks bearing revenue stamps, and cancelled checks printed on revenue stamped paper.