PANAMA - 1950 OBLIGATORY TAX SPECIMENS Physical Culture set, Dated 1950 in non issued colours, 'WATERLOW & SONS - SPECIMEN' overprinted and punctured with a security hole. Never hinged - without & without gum. (5 Specimens) (Image1)

Est. £75-100

PANAMA - REVENUES TIMBRE PARA LOCORES IMPORTADOS (ALCOHOL TAX) 1919 20c olive-green IMPERF PLATE PROOFS printed on ungummed paper COMPLETE SHEET of 50 with a printer's note at upper right corner. Folded between stamps. (50 proofs) (Image1)

Est. £100-120