Jay Smith & Associates: Iceland: Revenues: Vacation Savings Stamps

Welcome to the Scandinavian Philatelic Headquarters

Home > Price Lists > Iceland > Revenues:

1 2 3 4 5 6 7

Iceland: Revenues: Vacation Savings Stamps - Orlof Overprints

Thor Thorsteins has written (summarized here): A law dated February 26, 1943, required employers to pay temporary wage earners 4% vacation pay, to be paid in Vacation Stamps at the time of payment of wages. The post office was to issue Vacation Stamps and Vacation Books for the stamps. Both full post offices and the smaller letter collecting stations were to distribute the books free of charge but only full post offices were to sell Vacation Stamps and redeem books for vacation funds. Stamp sales began August 1, 1943. (Vacation pay was initially 4%; 6% from 1957; rising in 1964 to 7% and to 8 1/3% in 1971.) Due to insufficient time to prepare special Vacation Stamps, for the vacation year 1943-44, postage stamps overprinted with the word “Orlof” and values of 10, 20 and 50 aurar; 1, 2, 5, and 10 krónur, were used. It was required that postal clerks sell these stamps to whoever desired them. These overprinted stamps were savings stamps for the next summer vacation period starting May 15, 1944 until May 14, 1945. The wages recipient was to glue the received stamps into his/her book and before going on vacation during the vacation period to present it with accompanying certification for payment at a post office. Overprinting of stamps was performed by State Printer Gutenberg during the period May 16, 1943 to April 13, 1944. Starting in 1944, purpose-designed Vacation Stamps were printed and used up into the 1970s (they are available from Jay Smith and Associates).

Twelve regular postage stamps and seven official stamps were overprinted. They were sold for only about nine months and were then withdrawn. Though printed in quantities of ranging from 19,700 to 158,500, most were printed in quantities of less than 50,000. Quantities withdrawn and destroyed seem not to have been recorded, thus only the original print quantities are known; some stamps may exist in much smaller quantities than the original print numbers suggest. Stamp collectors in Iceland at that time seem to have paid little attention to these stamps; collectors outside of Iceland seem to have been virtually unaware of them until many years later. Because they were not considered to be postage stamps, they got less respect at the time. Furthermore, economic conditions in Iceland during the war years were extremely difficult for many people and thus little money was spent on stamps like these. It seems that no Icelandic stamp dealers stocked them or offered them to overseas buyers. It must also be remembered that the stamps had to be redeemed to get the money for a vacation and that the post office normally destroyed the redeemed stamps. The only mint-with-gum stamps extant were likely purchased by collectors, plus perhaps the odd few found in the desk drawers of small employers. Used examples are rare.

Of all 19 stamps, only three low values (Fish) are seen with any frequency. The vast majority of the stamps are extremely scarce or rare. The Facit Catalog started listing and pricing these stamps in 2007, however, I have absolutely no idea how the Facit editors arrived at the pricing they are using. For the most common three stamps, the pricing is perhaps a little low, but in the right neighborhood. However, beyond those three stamps, the prices make no sense to me. If I have not had nor been able to buy -- and I do try to find these kinds of things -- more than one example of a stamp in 38 years (as of 3/2011), a catalog value of $75 is simply absurdly low. Despite the presence of the Facit listings causing demand to increase significantly -- with no change in supply -- the Facit prices appear to remain unchanged. The Facit values may be a guide to relative rarity, however, they do not reflect the true market value of these stamps.

See the article in the Resources section for more information and images of all the pages in a complete Orlof savings book.

Though the listings below of available items may not include all that you are seeking, please send your want list so that you will be on the waiting list when I can next offer the scarcer stamps.

I am interested in buying these overprints and all Icelandic revenue material.

Vacation Savings Stamps - Orlof Overprints

Top

Item #

Quality & Description

IMAGES: Hover mouse pointer over image to determine if ACTUAL image of item OR a REPRESENTATIVE sample image of item.
Click for more information

US$

235998

Orlof Book: Complete 1943-44 ORLOFSBÓK, serial numbered "No 09860". Contains 19 OVERPRINTED STAMPS: 10x 1 krona on 60 aur Gulfoss Waterfall; 4x 10 aur on 10 aur Fish (green); 4x 20 aur on 25 aur Fish (red); and 1x 50 aur on 25 aur Christian X (red). The outer cover of the book is worn and with an ink stain, but the interior pages are all in excellent condition. The stamps are mostly VF with a couple F-VF; under magnification I do NOT see any defects on the stamps. The total of the individual selling prices of the stamps is approximately $3400!!!! The pages of the book include 9 pages of Orlof law and regulations (it would be great if somebody would volunteer to translate this). My understanding is that THIS 1943-44 BOOK IS THE ONLY BOOK IN WHICH THE OVERPRINTED STAMPS WERE USED. In 38 years I do not recall ever seeing another example of a complete book containing any overprinted stamps. The book is rare and contains $3400 in intrinsic value of the stamps (which could be removed and easily sold); it should sell for much more than $3400, however, to keep the book intact I offer it for less than the value of the stamps.

2950.00

234949

Orlof 10 kr Overprint on Scott #44 (Facit #73) [1 kr Christian IX] Mint Superb, looks LH, but is probably NH with natural gum skips. As of 3/2011, the only example I have in 38 years.

Reference
For reference only. NOT for sale.
Send your want list.

234950

Orlof 10 kr Overprint on Scott #83 (Facit #88) [1 kr Two Kings] NH VF. As of 3/2011, the only example I have had in 38 years.

Reference
For reference only. NOT for sale.
Send your want list.

234951

Orlof 2 kr Overprint on Scott #84 (Facit #89) [2 kr Two Kings] NH F-VF. As of 3/2011, only the second example I have had in 38 years.

Reference
For reference only. NOT for sale.
Send your want list.

235987

Orlof 2 kr Overprint on Scott #84 (Facit #89) [2 kr Two Kings] NH F-VF. As of 2/2012, one of only five mint with-gum examples I have had in 38 years.

175.00

235988

Orlof 2 kr Overprint on Scott #84 (Facit #89) [2 kr Two Kings] NH F-VF. As of 2/2012, one of only five mint with-gum examples I have had in 38 years.

175.00

235989

Orlof 2 kr Overprint on Scott #84 (Facit #89) [2 kr Two Kings] Mint VF, no gum horizontal THREE-STRIP. As of 2/2012, the only other mint examples I have had in 38 years are five with-gum stamps. Multiples of the most of the Orlof overprints are very scarce.

240.00

235990

Orlof 2 kr Overprint on Scott #84 (Facit #89) [2 kr Two Kings] Used VF. As of 2/2012, only one of three used examples I have had in 38 years. Extremely scarce; used is not priced in any catalog.

210.00

235992

Orlof 2 kr Overprint on Scott #84 (Facit #89) [2 kr Two Kings] Used F-VF. As of 2/2012, only one of three used examples I have had in 38 years. Extremely scarce; used is not priced in any catalog.

170.00

234952

Orlof 5 kr Overprint on Scott #85 (Facit #90) [5 kr Two Kings] NH Fine. As of 3/2011, only the second example I have had in 38 years.

650.00

Vacation Savings Stamps - Orlof Overprints continued ...

Top

Item #

Quality & Description

IMAGES: Hover mouse pointer over image to determine if ACTUAL image of item OR a REPRESENTATIVE sample image of item.
Click for more information

US$

234953

Orlof 5 kr Overprint on Scott #98 (Facit #120) [5 kr Frederik VIII] Used Damaged (scuffed, stain, pinhole). As of 3/2011, the only example I have had (in any condition) in 38 years and I have only had a report of one other example (though others certainly must exist). I believe this to be the rarest overprinted Orlof stamp.

200.00

234954

Orlof 50 aur Overprint on Scott #104 (Facit #96) [10 aur Two Kings, crosses watermark] NH F-VF right marginal example, creased. As of 3/2011, only the third example I have had in 38 years. This overprint had the lowest printing quantity.

120.00

234955

Orlof 50 aur Overprint on Scott #121 (Facit #137) [25 aur red Christian X] NH F-VF. As of 3/2011, only the third (one of which was used) example I have had in 38 years.

Reference
For reference only. NOT for sale.
Send your want list.

235980

Orlof 50 aur Overprint on Scott #121 (Facit #137) [25 aur red Christian X] Used VF. As of 2/2012, only one of three -- and by far the best -- examples I have had in 38 years. Extremely scarce; used is not priced in any catalog.

225.00

235981

Orlof 50 aur Overprint on Scott #121 (Facit #137) [25 aur red Christian X] Used Just Fine. As of 2/2012, only one of three used examples I have had in 38 years. Extremely scarce; used is not priced in any catalog.

145.00

234956

Orlof 1 kr Overprint on Scott #173 (Facit #197) [60 aur Gulfoss Waterfall] NH VF. As of 3/2011, the only example I have had in 38 years.

Reference
For reference only. NOT for sale.
Send your want list.

235979

Orlof 1 kr Overprint on Scott #173 (Facit #197) [60 aur Gulfoss Waterfall] Used VF with neat cancel. As of 2/2012, only the second used single example I have had in 38 years (I have also had a savings book containing 8 used examples, but that is a rarity). Extremely scarce; used is not priced in any catalog.

225.00

234957

Orlof 10 aur Overprint on Scott #221 (Facit #245C2) [10 aur green Fish, comb perf 14x14 thin tooth at top] NH Superb. This is the most commonly found Orlof overprinted stamp, however, well centered examples are scarce. The underlying stamp exists with three perforation types, logically however, the only overprinted version recorded is the last one printed. Theoretically other perforations could exist.

40.00

234971

Orlof 10 aur Overprint on Scott #221 (Facit #245C2) [10 aur green Fish, comb perf 14x14 thin tooth at top] NH F-VF. This is the most commonly found Orlof overprinted stamp, however, well centered examples are scarce. The underlying stamp exists with three perforation types, logically however, the only overprinted version recorded is the last one printed. Theoretically other perforations could exist.

24.00

234969

Orlof 10 aur Overprint on Scott #221 (Facit #245C2) [10 aur green Fish, comb perf 14x14 thin tooth at top] Mint Superb. This is the most commonly found Orlof overprinted stamp, however, well centered examples are scarce. The underlying stamp exists with three perforation types, logically however, the only overprinted version recorded is the last one printed. Theoretically other perforations could exist.

28.00

Vacation Savings Stamps - Orlof Overprints continued ...

Top

Item #

Quality & Description

IMAGES: Hover mouse pointer over image to determine if ACTUAL image of item OR a REPRESENTATIVE sample image of item.
Click for more information

US$

234970

28.00

234972

Orlof 10 aur Overprint on Scott #221 (Facit #245C2) [10 aur green Fish, comb perf 14x14 thin tooth at top] Mint F-VF, but with crease (not obvious from front). This is the most commonly found Orlof overprinted stamp, however, well centered examples are scarce. The underlying stamp exists with three perforation types, logically however, the only overprinted version recorded is the last one printed. Theoretically other perforations could exist.

8.00

235985

Orlof 10 aur Overprint on Scott #221 (Facit #245C2) [10 aur green Fish, comb perf 14x14 thin tooth at top] Used F-VF. As of 2/2012, only one of two used examples I have had in 38 years. Extremely scarce; used is not priced in any catalog.

130.00

234958

Orlof 10 aur Overprint on Scott #223 (Facit #247) [12 aur Fish] NH VF right margin example.

Reference
For reference only. NOT for sale.
Send your want list.

234959

Orlof 20 aur Overprint on Scott #224 (Facit #248C2) [25 aur red Fish, comb perf 14x14 thin tooth at top] NH Superb. The underlying stamp exists with three perforation types, logically however, the only overprinted version recorded is the last one printed. Theoretically other perforations could exist.

Reference
For reference only. NOT for sale.
Send your want list.

235993

Orlof 20 aur Overprint on Scott #224 (Facit #248C2) [25 aur red Fish, comb perf 14x14 thin tooth at top] Used F-VF with handstamped and dated manuscript cancellations. A dated cancellation on any Orlof Overprint is extremely scarce; I have only had two or three such dated Orlofs in 38 years! As of 2/2012, only one of five used examples I have had in 38 years. Extremely scarce; used is not priced in any catalog.

140.00

235994

Orlof 20 aur Overprint on Scott #224 (Facit #248C2) [25 aur red Fish, comb perf 14x14 thin tooth at top] Used Superb. As of 2/2012, only one of five used examples I have had in 38 years. Extremely scarce; used is not priced in any catalog.

110.00

235995

Orlof 20 aur Overprint on Scott #224 (Facit #248C2) [25 aur red Fish, comb perf 14x14 thin tooth at top] Used VF. As of 2/2012, only one of five used examples I have had in 38 years. Extremely scarce; used is not priced in any catalog.

95.00

235996

95.00

235997

Orlof 20 aur Overprint on Scott #224 (Facit #248C2) [25 aur red Fish, comb perf 14x14 thin tooth at top] Used Fine. As of 2/2012, only one of five used examples I have had in 38 years. Extremely scarce; used is not priced in any catalog.

65.00

Vacation Savings Stamps - Orlof Overprints continued ...

Top

Item #

Quality & Description

IMAGES: Hover mouse pointer over image to determine if ACTUAL image of item OR a REPRESENTATIVE sample image of item.
Click for more information

US$

234960

Orlof 20 aur Overprint on Scott #226 (Facit #250C2) [35 aur red Fish, comb perf 14x14 thin tooth at top] NH Superb. Though the underlying stamp exists with two perforation types, the second type was printed after the Orlof overprinting and thus cannot exist with overprint. As of 3/2011, I have had less than 8 examples in 38 years.

Reference
For reference only. NOT for sale.
Send your want list.

235986

Orlof 20 aur Overprint on Scott #226 (Facit #250C2) [35 aur red Fish, comb perf 14x14 thin tooth at top] NH VF. Though the underlying stamp exists with two perforation types, the second type was printed after the Orlof overprinting and thus cannot exist with overprint. As of 2/2012, I have had less than 10 examples in 38 years.

75.00

234961

Orlof 10 kr Overprint on Scott #O16 (Facit #TJ29) [Official 10 aur Christian IX] NH Superb. As of 3/2011, the only example I have had in 38 years.

Reference
For reference only. NOT for sale.
Send your want list.

234962

Orlof 5 kr Overprint on Scott #O19 (Facit #TJ32) [Official 50 aur Christian IX] NH Fine+. As of 3/2011, the only example I have had in 38 years.

Reference
For reference only. NOT for sale.
Send your want list.

234963

Orlof 10 kr Overprint on Scott #O34 (Facit #TJ36) [Official 10 aur Two Kings] NH Superb. As of 3/2011, only the second example I have had in 38 years. This overprint had the second-lowest printing quantity.

Reference
For reference only. NOT for sale.
Send your want list.

234964

Orlof 10 kr Overprint on Scott #O36 (Facit #TJ38) [Official 16 aur Two Kings] NH F-VF+. As of 3/2011, the only example I have had in 38 years.

Reference
For reference only. NOT for sale.
Send your want list.

234965

Orlof 10 kr Overprint on Scott #O38 (Facit #TJ40) [Official 50 aur Two Kings] NH VF. As of 3/2011, the only example I have had in 38 years.

Reference
For reference only. NOT for sale.
Send your want list.

234966

Orlof 2 kr Overprint on Scott #O48 (Facit #TJ51) [Official 2 kr Christian X] NH VF. As of 3/2011, the only example I have had in 38 years.

Reference
For reference only. NOT for sale.
Send your want list.

235983

Orlof 2 kr Overprint on Scott #O48 (Facit #TJ51) [Official 2 kr Christian X] Used VF. As of 2/2012, only one of two used and one NH examples I have had in 38 years. Extremely scarce; used is not priced in any catalog.

240.00

235984

240.00

Vacation Savings Stamps - Orlof Overprints continued ...

Top

Item #

Quality & Description

IMAGES: Hover mouse pointer over image to determine if ACTUAL image of item OR a REPRESENTATIVE sample image of item.
Click for more information

US$

234967

Orlof 5 kr Overprint on Scott #O49 (Facit #TJ52) [Official 5 kr Christian X] NH F-VF. As of 3/2011, only the second example I have had in 38 years.

Reference
For reference only. NOT for sale.
Send your want list.

Home > Price Lists > Iceland > Revenues:

1 2 3 4 5 6 7

© 2001-2011, 2012 Jay Smith & Associates   webmaster@JaySmith.com
I respect your privacy: Privacy Policy.
Jay Smith & Associates   P.O. Box 650   Snow Camp, NC 27349-0650   USA
Toll-Free Phone (US & Canada): 1-800-447-8267   Phone: 336-376-9991   Fax: 336-376-6750   Email: js@JaySmith.com