Issued on May 1, 1912, this 2 cent green stamp from the early Republic of China features a finely detailed coiling dragon design with a Kai-style overprint reading "Republic of China," symbolizing the transition from imperial to republican governance. Designed by R. A. deVillard and printed by Waterlow & Sons Ltd. in London, the stamp exemplifies the blend of Chinese iconography and Western printing precision. It was produced using gravure printing on unwatermarked paper with variable perforations. Part of the first definitive series under the new republic, this issue played a key role in legitimizing the emerging government's postal authority. The denomination of 2 cents was intended for domestic correspondence. It is listed as Michel CN-IM 111, Scott CN-IM 165, and Stanley Gibbons CN-IM 220. Condition: Mint hinged with clean gum and fresh color, well-centered example. Estimate "$30 – 40".