Thursday, March 27, 2014
The war savings stamps introduced during World War II were released in five different denominations – 10 cents, 25 cents, 50 cents, one dollar, and five dollars, all featuring a Minuteman statue. These stamps were purchased at face value and earned no interest. Individuals accumulated their war savings stamps in various collection booklets provided with the purchase of a stamp. Filled collection booklets could later be used to purchase Series E war bonds. For example, a full 25-cent booklet contained 75 stamps and was worth $18.75, which was the initial price of a $25 war bond. Thus, a full 25-cent booklet would be exchanged for a $25 war bond with a time to maturity of ten years.
War Stamp Sales – war stamps were sold in many stores in Minot during WWII. In July of 1942, the merchants in Minot conducted a “retailers for Victory” campaign. Selling the most stamps in various stores netted the seller prizes. The girls at Woolworth’s who sold the most stamps received a day off. Other prizes available at other participating retail stores such as SS Kresge and JC Penny.