Since the major postage rate increases of 1978, the United States Postal Service has released non-denominated definitive stamps a few days before major rate increases. These stamps filled the gap until denominated definitive and commemorative stamps could be prepared and issued. A letter printed on the stamps indicated the new rate change. The 1978 rate change had the letter "A." Six rate changes later — in 1994, shortly before January 1, 1995 — postal rate changes went into effect, and the G-rate stamps were issued to the public.
The G-rate Old Glory stamps included four postal rates: the new thirty-two-cent first-class rate; the twenty-cent stamp for postcards; the new twenty-five-cent first-class presort rate; and the five-cent nonprofit presort rate.
The various color variations and printing formats — coils, booklets and sheet stamps — were produced by five entities — the Bureau of Engraving and Printing, the American Bank Note Co., Stamp Ventures, KCS Industries, and Avery-Denison.
Ronald Sharp of the Bureau of Engraving and Printing designed the G-Rate Old Glory stamp.