PANAMA 1940 REGISTRATION & CANCELLATION

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Registered airmail cover franked with 1939 5c blue and pair 10c violet plus 1c blue TAX issue on front and additional strip of three 5c blue on reverse (SG 360/361 & 356) tied by ADMON SUB DE CORREOS EL REAL cds's with boxed 'EL REAL' registration marking alongside. Addressed to USA with various transit & arrival marks on reverse.