The 1-cent Franklin of the new Bank Note Issues was first used in July 1887. It was actually the last of the new designs created and released by American Bank Note Company. The previous Franklin issues, which had been designed and engraved by National Bank Note Company, had been in continuous use for seventeen years (1870-1887).
The first-class rate was reduced by one cent in 1883, from three cents to two cents per ounce. A single 1-cent stamp could have paid the postcard rate; two 1-cent stamps, the double-weight first-class domestic rate; or, in combination with other denominations, larger rates. Approximately 1,325,000,000 stamps of the 1-cent Franklin were printed by American Bank Note Company.