PANAMA, 1909, 1c Dark Green & Black, Center Inverted (197a). Rich colors, neat purple cancel, centered to top as are all known examples, vertical crease at left does not detract

FINE APPEARANCE. ONLY SEVEN USED AND ONE UNUSED EXAMPLE OF THIS GREAT RARITY ARE KNOWN.

The subject of this stamp, Vasco Nunez de Balboa, was a Spanish conquistador who was the first European to see the Pacific Ocean. This is the underlying stamp used for the Canal Zone series of 1909-10 (Scott 31-35) and was printed by the American Bank Note Company; the invert is also known with the "Canal Zone" overprint (Scott 31a, four known).

This is the first we have offered since keeping computerized records. With 2009 P.F. certificate

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