What we collect!

 

Stamporama Discussion Board Logo
For People Who Love To Talk About Stamps
Discussion - Member to Member Sales - Research Center
Stamporama Discussion Board Logo
For People Who Love To Talk About Stamps
Discussion - Member to Member Sales - Research Center
Stamporama Discussion Board Logo
For People Who Love To Talk About Stamps



What we collect!
What we collect!


Canada/Other : Post Office Savings Bank

 

Author
Postings
2010ccg

29 Jan 2022
05:34:28pm
Yesterday I received an old Post office Savings Bank deposit and savings booklet. It is from 1950 and is similar to the Bank books used before the digital age.
Can anyone explain how this worked and the reasons behind the savings plan ? Any information is appreciated .
Cheryl
Like
Login to Like
this post
musicman
Members Picture


APS #213005

30 Jan 2022
09:26:57am
re: Post Office Savings Bank

Cheryl,

Here is what the Scott US Specialized says regarding savings stamps;

""Savings Stamps" is a general category that includes 4 slightly different types of stamps issued at different times by either the US Post Office Department or the US Treasury Dept.
Their common feature was that they all effectively acted as a means for ordinary citizens to save and/or invest incrementally, a little bit at a time.
At the same time, the investments effectively were loans to the federal government.
The 4 types are Postal Savings Stamps (issued from 1911-41) and Savings Stamps (1954-1961),
both issued by the POD; and War Savings Stamps (1917-45) and a Treasury Savings Stamp (1920), both issued by the Treasury Dept.
Postal Savings Stamps were issued in 10¢ to $5.00 denominations and were redeemable in the form of credits to postal savings accounts. The 1911 10¢ stamps were available either as stamps or as a stamp imprint on a card, to which other stamps could be added.
The postal savings system was discontinued March 28, 1966.

Savings Stamps, also issued in 10¢ to $5.00 denominations, are the savings stamps most familiar to older philatelists. These collectors may remember buying these stamps at school and placing them in booklets. When full, the booklets were redeemable in the form of US savings bonds. Sale of Savings Stamps was discontinued June 30, 1970.
War Savings Stamps were issued in 25¢ and $5 denominations (1917-20) and 10¢ to $5 denominations (1942-45).
They were redeemable in the form of US treasury war certificates, defense bonds or war bonds.
One Treasury Savings Stamp with a $1.00 denomination was issued in 1920. These stamps were redeemable in the form of either war savings stamps or treasury savings certificates"




This is from the 2018 edition of the Scott US Specialized.


Now, all this being said, maybe you are not even referring to US here...???

Like
Login to Like
this post
2010ccg

30 Jan 2022
11:43:32am
re: Post Office Savings Bank

I tried to upload a photo but it is too large It is actually a passbook from 1950 ..a passbook like a bank account book
Research tells me that the post office in Canada acted like a bank . Just would like to know a bit more of the time line.

Like
Login to Like
this post
musicman
Members Picture


APS #213005

30 Jan 2022
12:37:17pm
re: Post Office Savings Bank

Okay, I'll try again;


this may help -

https://www.historymuseum.ca/cmc/exhibitions/cpm/chrono/ch1868be.html



(sorry about the earlier misunderstanding!)

Like
Login to Like
this post
musicman
Members Picture


APS #213005

30 Jan 2022
12:40:04pm
re: Post Office Savings Bank

Does it look something like this??

Image Not Found

Like
Login to Like
this post
2010ccg

30 Jan 2022
01:21:45pm
re: Post Office Savings Bank

yes it does quite similar... the one I purchased from Roy is from the 50s ,,,,thankyou My image was too large and I didn`t know how to reduce the image



Like
Login to Like
this post
roy
Members Picture


BuckaCover.com - 80,000 covers priced 60c to $1.50 - Easy browsing 500 categories

30 Jan 2022
07:01:46pm
re: Post Office Savings Bank

I just happen to have those pictures Cheryl!

Image Not Found
Image Not Found
Image Not Found
Image Not Found

Roy

Like 
1 Member
likes this post.
Login to Like.

"BuckaCover.com - Since 2003 - Over One million covers sold - What have you been missing? Over 10,000 new covers added June 20!"

www.Buckacover.com
2010ccg

31 Jan 2022
11:46:37am
re: Post Office Savings Bank

Roy
My secret is no secret at all. That is my purchase !lolI Don't Want To See
Now was it a way for folks to save a bit of money ? Do you know anything about the time frame?
Cheryl

Like
Login to Like
this post
roy
Members Picture


BuckaCover.com - 80,000 covers priced 60c to $1.50 - Easy browsing 500 categories

31 Jan 2022
12:16:47pm
re: Post Office Savings Bank

It wasn't difficult, since you bought it from me!

It was an actual savings bank. I don't have specific details. I am sure some digging via Google will return some historical information.

In the past few years, the notion of reviving it has come up in Post Office / Postal Workers Union negotiations as a way to revive the finances of Canada Post.

Roy

Like 
1 Member
likes this post.
Login to Like.

"BuckaCover.com - Since 2003 - Over One million covers sold - What have you been missing? Over 10,000 new covers added June 20!"

www.Buckacover.com
cdj1122
Members Picture


Silence in the face of adversity is the father of complicity and collusion, the first cousins of conspiracy..

07 Feb 2022
07:27:20am
re: Post Office Savings Bank

When looking at the deposits, keep in mind that in 1956
my pay at my first job was $0.40 or $0.45 an hour and
during that time frame the US and Canadian dollars were
usually traded on an equal or near equal basis; 1 for 1.
Gas in the UJS was $0.11/9 a gallon and a MacDonalds or
Wetsons Greaseburger was $0.19 each.

Like 
1 Member
likes this post.
Login to Like.

".... You may think you understood what you thought I said, but I'm not sure you realize that what you think you heard is not what I thought I meant. .... "
        

 

Author/Postings
2010ccg

29 Jan 2022
05:34:28pm

Yesterday I received an old Post office Savings Bank deposit and savings booklet. It is from 1950 and is similar to the Bank books used before the digital age.
Can anyone explain how this worked and the reasons behind the savings plan ? Any information is appreciated .
Cheryl

Like
Login to Like
this post
Members Picture
musicman

APS #213005
30 Jan 2022
09:26:57am

re: Post Office Savings Bank

Cheryl,

Here is what the Scott US Specialized says regarding savings stamps;

""Savings Stamps" is a general category that includes 4 slightly different types of stamps issued at different times by either the US Post Office Department or the US Treasury Dept.
Their common feature was that they all effectively acted as a means for ordinary citizens to save and/or invest incrementally, a little bit at a time.
At the same time, the investments effectively were loans to the federal government.
The 4 types are Postal Savings Stamps (issued from 1911-41) and Savings Stamps (1954-1961),
both issued by the POD; and War Savings Stamps (1917-45) and a Treasury Savings Stamp (1920), both issued by the Treasury Dept.
Postal Savings Stamps were issued in 10¢ to $5.00 denominations and were redeemable in the form of credits to postal savings accounts. The 1911 10¢ stamps were available either as stamps or as a stamp imprint on a card, to which other stamps could be added.
The postal savings system was discontinued March 28, 1966.

Savings Stamps, also issued in 10¢ to $5.00 denominations, are the savings stamps most familiar to older philatelists. These collectors may remember buying these stamps at school and placing them in booklets. When full, the booklets were redeemable in the form of US savings bonds. Sale of Savings Stamps was discontinued June 30, 1970.
War Savings Stamps were issued in 25¢ and $5 denominations (1917-20) and 10¢ to $5 denominations (1942-45).
They were redeemable in the form of US treasury war certificates, defense bonds or war bonds.
One Treasury Savings Stamp with a $1.00 denomination was issued in 1920. These stamps were redeemable in the form of either war savings stamps or treasury savings certificates"




This is from the 2018 edition of the Scott US Specialized.


Now, all this being said, maybe you are not even referring to US here...???

Like
Login to Like
this post
2010ccg

30 Jan 2022
11:43:32am

re: Post Office Savings Bank

I tried to upload a photo but it is too large It is actually a passbook from 1950 ..a passbook like a bank account book
Research tells me that the post office in Canada acted like a bank . Just would like to know a bit more of the time line.

Like
Login to Like
this post
Members Picture
musicman

APS #213005
30 Jan 2022
12:37:17pm

re: Post Office Savings Bank

Okay, I'll try again;


this may help -

https://www.historymuseum.ca/cmc/exhibitions/cpm/chrono/ch1868be.html



(sorry about the earlier misunderstanding!)

Like
Login to Like
this post
Members Picture
musicman

APS #213005
30 Jan 2022
12:40:04pm

re: Post Office Savings Bank

Does it look something like this??

Image Not Found

Like
Login to Like
this post
2010ccg

30 Jan 2022
01:21:45pm

re: Post Office Savings Bank

yes it does quite similar... the one I purchased from Roy is from the 50s ,,,,thankyou My image was too large and I didn`t know how to reduce the image



Like
Login to Like
this post

BuckaCover.com - 80,000 covers priced 60c to $1.50 - Easy browsing 500 categories
30 Jan 2022
07:01:46pm

re: Post Office Savings Bank

I just happen to have those pictures Cheryl!

Image Not Found
Image Not Found
Image Not Found
Image Not Found

Roy

Like 
1 Member
likes this post.
Login to Like.

"BuckaCover.com - Since 2003 - Over One million covers sold - What have you been missing? Over 10,000 new covers added June 20!"

www.Buckacover.com
2010ccg

31 Jan 2022
11:46:37am

re: Post Office Savings Bank

Roy
My secret is no secret at all. That is my purchase !lolI Don't Want To See
Now was it a way for folks to save a bit of money ? Do you know anything about the time frame?
Cheryl

Like
Login to Like
this post

BuckaCover.com - 80,000 covers priced 60c to $1.50 - Easy browsing 500 categories
31 Jan 2022
12:16:47pm

re: Post Office Savings Bank

It wasn't difficult, since you bought it from me!

It was an actual savings bank. I don't have specific details. I am sure some digging via Google will return some historical information.

In the past few years, the notion of reviving it has come up in Post Office / Postal Workers Union negotiations as a way to revive the finances of Canada Post.

Roy

Like 
1 Member
likes this post.
Login to Like.

"BuckaCover.com - Since 2003 - Over One million covers sold - What have you been missing? Over 10,000 new covers added June 20!"

www.Buckacover.com

Silence in the face of adversity is the father of complicity and collusion, the first cousins of conspiracy..
07 Feb 2022
07:27:20am

re: Post Office Savings Bank

When looking at the deposits, keep in mind that in 1956
my pay at my first job was $0.40 or $0.45 an hour and
during that time frame the US and Canadian dollars were
usually traded on an equal or near equal basis; 1 for 1.
Gas in the UJS was $0.11/9 a gallon and a MacDonalds or
Wetsons Greaseburger was $0.19 each.

Like 
1 Member
likes this post.
Login to Like.

".... You may think you understood what you thought I said, but I'm not sure you realize that what you think you heard is not what I thought I meant. .... "
        

Contact Webmaster | Visitors Online | Unsubscribe Emails | Facebook


User Agreement

Copyright © 2024 Stamporama.com