This engraved 3 cent stamp was released on May 1, 1912, shortly after the fall of the Qing dynasty. It features the Coiling Dragon design overprinted in red Kai-style script denoting “Republic of China” (中華民國). The deep gray-green base color and intricate dragon motif reflect the excellence of Waterlow & Sons Ltd’s printing. These stamps circulated widely across China in the Republic's early years, primarily used for letter postage. Despite wear, this used example offers historical and aesthetic value. It is listed in Michel CN-IM 112, Scott CN-IM 166, Yvert CN-IM 99A, Stanley Gibbons CN-IM 221, and CSS CN-IM 202a. Estimate "$50 – 75"