This overprinted stamp from French Indochina, issued in November 1912, repurposes the 15 centimes allegorical "Type Grasset" design by applying a large red "05" surcharge to indicate its new value of 5 centimes. The original image, engraved by Eugène Grasset and printed in reddish brown, depicts the figure of Liberty holding an olive branch and anchor—symbols of peace and maritime commerce. It was produced by the Imprimerie Nationale in Paris and printed on bluish paper without watermark, using typographic methods and perforation 14 x 13½. With a low total issue of only 386,400 stamps, this provisional surcharge is considered one of the scarcer minor revaluations from the colonial administration. The present example is used, with a lightly struck cancellation and faint reverse ink offset of the surcharge, showing prior hinge marks and some paper gum disturbance on the back. Catalogued as Yvert FR-IC 60, Michel FR-IC 60, Scott FR-IC 60, and SG FR-IC 70. Estimate "$120-180".