H.E. Pierce started up a small match company in Chicago in 1867. He took one delivery of his private die stamps in March of that year, 52,500 copies on old paper. A balance of 206,700 were destroyed as obsolete. The founder said that there was no money to be made in the company, so it was closed.

There are fewer than 25 of the Pierce stamps known, and some 75% of these are faulty.