Issued on May 1st, 1912, this Chinese 20 cent stamp features the iconic Coiling Dragon design with an overprint in Kai regular script (楷書) reading 中華民國 (“Republic of China”). Printed in deep carmine brown by Waterlow & Sons Ltd using engraved printing, the stamp displays fine detail with a vivid depiction of a carp leaping among waves – a classical Chinese symbol for perseverance and transformation. The surcharge reflects the transitional moment from the Qing Dynasty to the Republic, using overprinted imperial issues for the new government. The cancelation mark, originating from Shanghai (上海), enhances the historical authenticity and relevance. The stamp is imperforate and gummed, part of the daily-use definitive series. It is catalogued under Michel CN-IM 118, Scott CN-IM 172, Yvert et Tellier CN-IM 105, Stanley Gibbons CN-IM 227, and China Stamp Society CN-IM 208. Estimate "$70 – 100"