FEDERATION
![Lot 3451](https://auktion.reinhardfischerauktionen.de/media/cache/lot_main/72/724667.jpg)
Auction e001 | Lot 3451
Opening bid
220
€
10 penny \"Europe CEPT\", variety \"unperforated\", with wide margins cut, mint never hinged, faultless condition, signed H. W. Winner, Michel undervalued, hardly ever offered!
For lots of the clearance sale we accept underbids up to 30% starting price - if there is no higher bid!