KIAUCHAU
![Lot 3467](https://auktion.reinhardfischerauktionen.de/media/cache/lot_main/64/649869.jpg)
Auction 193 | Lot 3467
Opening bid
60
€
German Reich 50 penny Germania unwatermarked, used in Kiautschou, probably from field telegram, rare separate vertical pair with slight perforation limitation by one stamp
For lots of the clearance sale we accept underbids up to 30% starting price - if there is no higher bid!