CANAL ZONE, 1904, 8c on 50c Bister Brown (15). With selvage at left including "Panama", tropicalized original gum, bright color, couple nibbed perfs at bottom not mentioned on certificate, appears Fine, only 450 were printed with "Panama" 13mm long, with 1969 A.P.S. certificate stating disturbed original gum, Scott Catalogue notes "On No. 15 with original gum, the gum is almost always disturbed. Unused stamps are valued thus."

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