Stamp collecting stamp collecting began at the same time that stamps were first issued, and by 1860 thousands of collectors and stamp dealers were appearing around the world as this new study and hobby spread across Europe, European colonies, the United States and other parts of the world. The first postage stamp, the Penny Black, was issued by Britain in May 1840 and pictured a young Queen Victoria. It was produced without perforations (imperforate) and consequently had to be cut from the sheet with scissors in order to be used. While unused examples of the Penny Black are quite scarce, used examples
Postage stamp social and political realities of the time of their issue, they are often prized for their beauty and historical significance by stamp collectors whose study of their history and of mailing systems is called philately. Because collectors often buy stamps from an issuing agency with no intention to use them for postage, the revenues from such purchases and payments of postage can make them a source of net profit to that agency. Throughout modern history, numerous methods were used to indicate that postage had been paid on a mailed item, so several different men have received credit for inventing the