Issued on September 17, 1945, during the final stages of World War II, this overprinted stamp originates from the Wang Ching-wei puppet regime in Japanese-occupied China. The base stamp, originally denominated at 1 Chinese cent and printed in orange using gravure methods, features a portrait of a uniformed Wang Ching-wei flanked by traditional motifs and a sun emblem. This issue is notable for its intricate triple overprint, with a green Chinese National Currency (CNC) surcharge, black boxed "200.00" dollar value, and additional characters signifying its use for official sales. The present example is a mint never hinged (MNH) block of four with full original gum and well-centered impressions. Measuring 23 x 26 mm and perforated 12½, it reflects the inflationary conditions of wartime China and the complex postal transitions of the era. Catalogued as Michel CN-IM 647, Scott CN-IM 619, Yvert CN-IM 526, Stanley Gibbons CN-IM 778, and China Stamp Society CN-IM 990, this philatelic item captures a rare intersection of propaganda, fiscal urgency, and aesthetic expression. Estimate "$120 – 180"