Surcharge

A surcharge is a type of overprint that specifically relates to the changes of the value or currency of the stamp.

In order to revalue a stamp a new inscription or value is printed over its face side and in general it depicts a change of value, currency or additional charge (tax) added. It usually happens in a case of high inflation or tariff changes in a country when it is necessary to make a fast adjustment of monetary value of stamps in a time insufficient for producing a new issue.

Apart from the changes in the postal rates, a cause for surcharging stamps can be shortage of certain denomination and/or utilization of a surplus of stamps. A change of currency in a country can also be the reason for surcharging stamps.

Also, stamps can be surcharged with additional charges added (semi-postal stamps) in an effort to raise money for a particular cause i.e. charity, for victims of natural disaster etc.

It should be also noted that surcharges, like all overprints, can have printing varieties and are prone to the printing errors which in some cases create rarities of the highest degree.

History of HSBC (Hong Kong & Shanghai Banking Corporation)

Hong Kong & Shanghai Banking Corporation HSBC is a banking institution established in 1865 in Hong Kong in order to facilitate and finance foreign trade between Europe and Asia. It is important to note HSBC’s remarkable role in the development of China’s infrastructure in the late 19th century and its consequent rise to becoming a largest and most prominent foreign bank in China in the 20^th century.

In its long history, the bank has successfully provided foreign exchange services even during the most turbulent times (wars and economic disruptions) earning a reputation for resilience. Furthermore, with continuous expansion by various acquisitions in the banking sector and investments globally, HSBC positioned itself as a true leader in the banking industry becoming one of the largest and most important financial institutions in the world.

HSBC’s rich history and long presence especially in Asia offers a plethora of different subjects and opportunities to philatelists.

HSBC perfin on 1891, 1 dollar surcharged 96 cent Queen Victoria Hong Kong stamp viewed from the back

Perfin

The peculiarity of 1891 Queen Victoria Hong Kong stamp presented on a photo above, is a HSBC’s perfin applied to it. Perfins are special perforations on stamps in a form of holes punched through the design area of the stamp, often in the shape of letters (initials) and/or certain geometric pattern in order to discourage theft or improper use.  

The name “perfin” comes from contraction of the words “perforated initials” or “perforated insignia” depending on source of information.

Main appeal of collecting stamps with perfins is the possibility of establishing a direct relation of a particular stamp with the company or institution on whose authorization perfin was made. In the case of a famous or in some other way interesting company the stamp can raise significant interest among collectors.

Considering the historical aspect of the overall role HSBC had, particularly in Asia, any item that can be regarded as an “exhibit” or a “piece of history” of such a remarkable enterprise will certainly be highly prized among collectors.