This refers to the postage value given on a stamp such as 20p or £1.12. Sometimes stamps are issued with non-value indicators (NVIs) such as “1st class”. However, NVI values are periodically reviewed. When all the postage values on one cover are added together, that gives the face value of the cover. For example, the Woodland Animals cover illustrated here has a face value of £1.40 (5 first class stamps worth 28p each).
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