This 1912 half cent stamp from the Republic of China issue overprinted on the Coiling Dragon series carries a blue vertical Kai-script overprint (中華民國), identifying the nascent republic. The base stamp, printed in rich dark brown by Waterlow & Sons Ltd through engraved printing, features an imperial dragon encircled by the bilingual inscription "CHINESE IMPERIAL POST". As a low denomination definitive stamp, it was used for small domestic rates, especially postcards. This example is cancelled with a partial datestamp and shows signs of handling on the reverse. The stamp belongs to the Republic's first official series and is an artifact of China's transitional postal history. Catalogued as Michel CN-IM 109, Scott CN-IM 163, Yvert CN-IM 98, Gibbons CN-IM 218, and CSS CN-IM 199a. Estimate "$45 – 65"