Issued on March 24, 1912, shortly after the fall of the Qing Dynasty, this 1 cent ochre stamp from the Republic of China’s first Coiling Dragon series marks a pivotal shift in Chinese history. Featuring an overprint in Sung characters, the stamp was printed by the Custom Statistical Department in Shanghai in collaboration with Waterlow & Sons Ltd. The design showcases the iconic coiling dragon, symbolizing imperial heritage during a time of national transition. Printed in ochre using gravure, it has variable perforations and no watermark. This 1 cent value was used primarily for low-rate local services and documents. Catalogued as Michel CN-IM 95I, Scott CN-IM 147, Stanley Gibbons CN-IM 193, it is a historically and philatelically important issue from the Republic's formative years. Condition is mint hinged with strong color and full original gum. Estimate "$20 – 25"