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PANAMA - Circa 1910 - REVENUE & PROOF: 1c orange 'Arms' REVENUE issue, 'Waterlow' COLOUR TRIAL in unissued colour, perforated with 'WATERLOW & SONS LTD SPECIMEN' overprint in black & small hole punch. (PAN/13018)

PANAMA 1910 REVENUE & PROOF

£30.00

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Circa 1910 1c orange 'Arms' REVENUE issue, 'Waterlow' COLOUR TRIAL in unissued colour, perforated with 'WATERLOW & SONS LTD SPECIMEN' overprint in black & small hole punch.