The 1-dollar Gaillard Cut stamp (Scott C14) was the last of the original stamps in the series first sold on November 18, 1931. Patrons used it as a 'make-up' rate stamp on heavier or very valuable packets. It is rare on cover in any non-philatelic usage. Because authorities anticipated its limited use, only 406,000 were printed.
Approximately 33,500—a fairly large percentage of the entire issue—of the 1-dollar Gaillard Cut stamps were overprinted between 1941 and 1952 for official use by federal offices located within the Canal Zone. Known as 'The Official Overprints,' they must have been intended for package mail as existing usages are often found this way.
First day covers of the 1-dollar Gaillard Cut stamp are quite rare, reflecting their cost relative to wages. Those that do exist are almost always found as part of an entire and colorful set on one envelope.