Bisect
Also: bisected stamp, split stamp, half stamp
A bisect is a stamp cut in half — usually diagonally, vertically or horizontally — and used to pay postage at half its face value, typically during a shortage of lower denominations.
Glossary Term
Face Value
Face value is the postage value printed on a stamp — the amount it is worth for paying postage — as opposed to its market or catalogue value to collectors.
Also known as: denomination, nominal value, FV
Face value is the monetary amount shown on a stamp — the value it carries for paying postage. A stamp printed “25c” has a face value of 25 cents regardless of whether a collector would pay 5 cents or 5,000 dollars for it. The term distinguishes a stamp’s postal worth from its market value or catalogue value.
Face Value Versus Collector Value
- Face value is fixed by the issuing postal authority.
- Catalogue value is the price listed in a catalogue such as Scott or Stanley Gibbons.
- Market value is what buyers actually pay, which may be well above or below catalogue.
For old and scarce stamps, market value typically far exceeds face value. For most modern mint stamps, the opposite is true: they trade at or below face because they were printed in huge numbers.
Discount Postage
Mint stamps that are still valid for postage are sometimes sold below face value and used on mail. This “discount postage” is common in the United States, where all stamps issued since 1860 remain valid. It is a practical way to use surplus mint stamps from inherited collections that are worth little to collectors.
Validity Rules Differ
Not every country keeps old stamps valid. Some demonetise issues after a currency change, independence, decimalisation or a change of regime. In the UK, non-barcoded definitive and special stamps ceased to be valid for postage in 2023, with a swap scheme for exchanging them. Before relying on old stamps to pay postage, check the current rules of the relevant postal service.
Non-Value Indicators
Many modern stamps show a service instead of a price — “1st” and “2nd” in Britain, “Forever” in the US, “International” in many countries. These non-value indicator (NVI) stamps remain valid for their stated service even after rates rise, so their effective face value changes over time.
Changes to Face Value
A postal authority can change a stamp’s face value by applying a surcharge — an overprint that revalues it. Cutting a stamp in half to use it at half value produces a bisect.
Frequently Asked Questions About Face Value
Can I still use old stamps for postage at face value?
It depends on the country. US stamps issued since 1860 remain valid for postage at face value. In the UK, stamps without barcodes were withdrawn from postal use in 2023, although they could be swapped for barcoded versions under a Royal Mail scheme. Check your postal service's current rules.
What does 'sold below face' mean?
Dealers often sell common mint stamps, especially modern ones, for less than their printed value because the supply greatly exceeds collector demand. Businesses buy such 'discount postage' to use on mail.
Do non-value indicator stamps have a face value?
Stamps marked with a service such as '1st', 'Forever' or 'Postcard' instead of a number are valid for that service at the current rate, so their effective face value rises when postage rates increase.