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 demonetization November 2000 are valid for postage. Irish stamps denominated in pounds were demonetized on 31 December 2002. Stamps issued since 2 August 2000 are valid for postage. In Malta, all stamps denominated in Maltese pounds were demonetized in 2008. All stamps issued since 29 December 2006 are valid for postage. Mail franked with older stamps is marked STAMP NOT VALID and postage due is charged. Stamps of the Netherlands denominated in guilders were demonetized on 1 November 2013. It is not possible to exchange guilder stamps for ones denominated in euros. Portuguese stamps denominated in escudos were demonetized in 2002.