Panama, 1903-04, Registration, 20c red brown on blue with First Panama Overprint, rose handstamp, blue "8348" handstamp, used with Panama A.R. 5c on 10c blue, double surcharge variety (H10 var.), 5c blue, 10c orange 20c violet (2), 50c bister brown and 1p lake with rose First Panama overprint, all tied by "Panama, 7 Dic 1903" duplex on blue The World corner card cover front to New York City, red crayon "76"; light vertical fold at center, Very Fine and attractive franking. Scott No. Panama F6, H10, 59  Estimate $300 - 400. ONE OF THREE RECORDED FIRST DAY OF NEW RATE COVERS. On Monday December 7th 1903, Panama postage rates reverted to the pre-April 15th 1902 levels. Provisional registration stamps were surcharged "10" and the provisional A.R. stamp was surcharged "5". Note that in the case of this cover, the Registration stamp was not surcharged, but the A.R. stamp was with two strikes of the "5" surcharge. Out of the three first day covers, this is the only one with an unsurcharged stamp. $0 (Image)