precancel1
/ˈpriːkansl/(also precancell) Philately (chiefly US )
noun
A postage stamp that has been cancelled prior to being used on an item of mail, often to facilitate bulk mailing.
Origin
Early 20th century. Apparently shortened from precancellation, probably originally as a graphic abbreviation.
precancel2
/priːˈkansl/Chiefly US
verb
1 [with object] Philately. To cancel (a postage stamp) by means of a frank ahead of its use, often to facilitate bulk mailing.
2 [with object] To cancel beforehand; to cancel giving prior notice.
Origin
Early 20th century; earliest use found in Conditions Use of Precanceled Postage Stamps. From pre- + cancel.