IPA: /ˈpriːˌkæn.səl/
KK: /priˈsæn.kəl/
A stamp or envelope that has been canceled before it is used, often to indicate that it has already been paid for.
I collected a rare precancel from the early 1900s that is highly valued by philatelists.
To cancel a postage stamp before it is used for mailing, making it invalid for future use.
She decided to precancel the stamps to avoid any issues at the post office.
Past: precanceled
Past Participle: precanceled
Precancelling is formed from "pre-" (meaning before) and "cancel" (from Latin "cancellare", meaning to cross out or annul). The word "precancel" means to cancel something before it occurs.
Think of doing something 'before' ('pre-') it is supposed to happen, which is what precancel means.