Lot 1428
1973 United States ONE UNIT GASOLINE Ration Coupons. Original Uncut Sheet of 16 Coupons. Gem Crisp Uncirculated. Numismatic News writer Ed Rochette explained the significance of these coupons in a June 16, 1987 article stating "the potential need for gas ration coupons occurred in 1973 when most oil producing nations of the Middle East embargoed shipments of crude oil to the United States in retaliation for U.S. support of Israel during the Arab-Israeli war. Because the oil embargo led to an acute energy shortage, President Richard Nixon took steps to reduce fuel consumption."
As attempts at energy conservation failed to resolve the energy crisis, the Federal Energy Administration developed a plan to have a gasoline rationing system to reduce the burden of nationwide gas line, a system based on the use of ration coupons. Naturally, the U.S. entity that got the duty of producing this coupons was the Bureau of Engraving and Printing and with heavy funding forged ahead in the production of these sheets. Interestingly enough, while the size of the coupons was obviously smaller than the size of a regular U.S. dollar, George Washington's portrait was kept the same size even though printed on a smaller surface area.
The U.S. Department of Energy ordered the destruction of all coupons in 1984 and this destruction was to have been completed by June 26, 1984. Federal records show that the Smithsonian Institute and National Archives received one sixteen subject sheet each. Several addtional sheets went to the Federal Energy Administration. Since that period of time, individual coupons and partial sheets have surfaced and been offered for sale but this is only full sixteen subject sheet that to our knowledge is available to collectors of this sort of "numismatica". A very interesting item and one that might come in handy in our current geopolitical climate.
Estimated Value $1,000 - 1,250.
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