Issued in 1888 under Qing Dynasty administration in Taiwan (Formosa), this pair of 20 cash dragon stamps features bold "FORMOSA" overprints and a rare 5 cent black overprint, known from the Taipei–Sikow route. The green stamp is used with a clear cancel and bears a partial overprint due to a surface tear, while the red stamp remains unused, mounted on paper with hinge marks. Printed typographically without watermark, these stamps display the iconic coiling dragon design with traditional Chinese inscriptions. Measuring approximately 25 mm x 30 mm, they are perforated and show signs of wear consistent with genuine postal use and storage. These issues are among the first stamps used in Taiwan, highlighting the island’s transition into a modern postal network during the Qing imperial period. A rare duo reflecting both early regional overprints and the complexities of local mail routes. Chan F25. Estimate "$180 – 230"