U.S. #1076 was released along with a souvenir sheet to commemorate the Fifth International Philatelic Exhibition (FIPEX) in New York City in 1956. The Exhibition was held in the New York Coliseum, shown on the stamp. The Coliseum was a convention hall completed just before the Exhibition, in April 1956. Also pictured on the stamp is the Columbus Monument, located in Barcelona, Spain.
In 1956, the fifth International Philatelic Exhibition (FIPEX) was held in the newly constructed New York Coliseum. More than 250,000 collectors attended the event. Ten years later, the International Philatelic Exhibition broke with tradition and began traveling to other cities in the United States.