The Michael Ruggiero Collection of Japan

1871, Dragon, 500 mon blue green, plate 1, laid paper, position 33 showing guide pinhole at lower left, without gum as issued, Post Office fresh with huge, even margins, Extremely Fine and choice. J.S.C.A. 4e 110,000 yen (HK$ 8,530). Scott 4; $650 (HK$ 5,040).
Estimate HK$ 2,500 - 3,500.