I'm a novice, so I can't ID it, but I notice the g in the word “Postage” in top block of text doesn't match the two g's present in the bottom block of text.

Maybe two different faces?

The closest you'll get to this look is Excelsior but make sure you set it with letterspacing like the original.

In my opinion there are closer matches. There is soon to be a release of the typeface "Ronaldson" by Canada Type (advance copy of the font courtesy of Patrick Griffin). This will be at MyFonts soon. I also think that a number of the Caslons that are available would be better matches than Excelsior. The Caslons, being based on the work of an English designer are probably the closer matches, but I was familiar with Ronaldson as a new Serif Guide addition, and thought it worth showing.

- Mike Yanega

Hmm. That cap L smacks of Tiffany. Not so sure. See, this is Excelsior:

It could be roughened up with some Photoshop noise if that's what was wanted.

Hmm. That cap L smacks of Tiffany. Not so sure.

There's a good reason for that -- Tiffany was based partially on Ronaldson, which was a very widely imitated typeface. Ronaldson goes back to 1884, and Monotype had it as their 16th metal typeface. Remember, I'm not saying it is Ronaldson, only that I thought it seemed closer than Excelsior, which I still think is true.

- Mike Yanega

The sample shows an early version of what became, slightly cleaned-up, Monotype Old Style. Monotype Old Style was recut by Monotype in 1901 from a Stephenson Blake & Company version, which is likely the version sampled here. The design originated at the Miller and Richard foundry in 1860. To achieve the effect shown, you need to open up the letter-spacing for Old Style more, probably, than the client might want, but try it and see!

thank you all for such knowledgeable and interesting comments. :)