Issued on September 17, 1945, under the collaborationist Chinese National Government (CNC) led by Wang Ching-wei, this block of four mint never hinged stamps presents a triple surcharge: 25 cents on $50 on 1 cent. Overprinted in black and green on an orange base stamp, the issue was printed by the American Bank Note Company using gravure printing and is perforated 12½. It belongs to the Green CNC Surcharge Overprint series, released at the end of World War II amid currency reform and shifting allegiances. The design honors Wang Ching-wei, a controversial revolutionary and political figure who led the Japanese-backed regime from 1940 to 1945. Measuring 23 x 26.5 mm, the stamps are well-centered with full original gum and crisp perforations. This rare block exemplifies the political fragmentation and inflationary turbulence of post-war China. Scott 617. Estimate "$75 – 95"