George washingtonengraving (reversed) modeled after a portrait by gilbert stuartelliott perry plated the 1847 issue 10-cent stamp. There are four double transfers and many well-known varieties printed from this plate. The us government demonetized the 1847 issue july 1, 1851 and replaced them with new issues and with new postal rates. The contract to print the new issue was not awarded to private company of rawdon, wright, hatch & edson, which retained ownership of the 1847 printing plates and dies. From that point onward, all printing contracts provided for government possession of all the plates and dies. It is assumed by historians that because the government did not have control over the printing plates they had cause to demonetize the 1847 issues. Date: 1 July 1847.
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