A superb unused imperf single of the 3c black Arms from the 1867 Papal Arms Issue, genuine example.
This is a genuine example, as evidenced by the appearance of the horizontal dividing lines, which are unbroken, where they meet the vertical ones. The reprints or forgeries show them broken at the junction points.
Scott values this at $240, so we estimate it at $300. The stamp offered here grades 96 as follows:
