The Michael Ruggiero Collection of Japan

1875, Cherry Blossom, 1 sen brown, foreign wove paper, syllabic 8 ("chi"), with full, crackly o.g., a superb quality example of the ultra-rare syllabic, wonderfully fresh and well centered, a magnificent example of one of the rarest classic issues of Japan, Very Fine and choice. J.S.C.A. 42 6,500,000 yen (HK$ 503,880). Scott 41; $32,500 (HK$ 251,940).
Estimate HK$ 100,000 - 150,000.