The society was founded on 10 April 1869 at a meeting at 93 Great Russell Street in the rooms of the stamp dealer J.C. Wilson.
The first officers elected were the president, Sir Daniel Cooper, the vice-president, Frederick A. Philbrick, and the secretary, W. Dudley Atlee.
The committee comprised Edward Loines Pemberton, Charles W. Viner, Thomas F. Erskine, Joseph Speranza, and W. E. Hayns.
Queen Elizabeth was not known to be a philatelist herself, but the royal family has maintained and added to the collection passed down by Edward VII.
[1] The anniversary was marked by a visit from its patron, Queen Elizabeth II, on 26 November 2019 when she opened the Society's new Headquarters in Abchurch Lane, London EC4.