This 15-cent airmail stamp was revalued by overprinting stocks of the current 1-cent Gorgas regular stamp. Mount Hope Printing Press overprinted 100,000 stamps. Post offices could first purchase the stamps on April 1, 1929. At the time only airmail stamps were authorized for use on airmail letters, and it was originally intended for mail addressed to destinations along the west coast of South America and into Central America and the Caribbean. For example, on the first flight in May 1929 a single 15-cent stamp was required for service to Ecuador, a pair for Peru, and three to Chile. It was also used only a few days later on the first flight to Central America, where a single stamp was required for each half ounce.
It is believed that almost all of these stamps were used on mail, although to find it on a non-philatelic airmail letter is not an easy task. However, it is quite common even today on covers flown on the many first flights throughout the Americas. It was also used, primarily into the early 1930s, on mail to other locations as the postage rates and routes changed fairly frequently. The last remnants still in post office stock were destroyed by burning in 1932.