This 1867 1 candarin stamp from the Treaty Port of Shanghai is part of the Small Dragon (Xiaolong) series, issued under the auspices of the Shanghai Local Post Office (L.P.O.). Printed in brown using letterpress by Nissen & Parker in London, the design prominently features a traditional Chinese dragon holding a pearl, a powerful symbol of imperial authority and prosperity. The stamp's compact format and vertical orientation underscore its early typographic style, with both Latin and Chinese inscriptions denoting local currency and usage. With a clean perforation of 15 and no watermark, it reflects the beginnings of modernized postal services in China’s foreign-controlled treaty ports. Cataloged as Michel CN-SH 32, Scott SH 46, Yvert et Tellier CN-SH 24, and Stanley Gibbons CN-SH 37. Condition VF, mint with original gum, lightly hinged (MH), fresh color and good centering. Estimate "$90 – 110".