RC54 Dah Tung (Hong Kong) Sun Yat-sen perforated by Chung Hwa Book Company (watermark)

Issued sometime in January 1941, in Republic of China. Listed as SG #not listed Scott #not listed Chan #430-432. Price mint 550, used 650

Perforated by Chung Hwa after Japanese take over. Not officially issued without overprints

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Collected AM Catalogue Numbers Face Colour/Design Mint Used Sale
xx view Chan92:430 $1 sepia and brown, 200 250 none
xx view Chan92:431 $10 violet and green, 150 150 none
xx view Chan92:432 $20 blue and purple, 200 250 none