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ECUADOR - 1907 - PROOF: 50c 'Espinoza' issue WATERLOW COLOUR TRIAL in black & purple perforated on ungummed paper with hole punch & 'Waterlow & Sons Ltd SPECIMEN' overprint in black. (SG 329) (ECU/4121)

ECUADOR 1907 PROOF

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50c 'Espinoza' issue WATERLOW COLOUR TRIAL in black & purple perforated on ungummed paper with hole punch & 'Waterlow & Sons Ltd SPECIMEN' overprint in black. (SG 329)