FEDERATION
![Lot 11246](https://auktion.reinhardfischerauktionen.de/media/cache/resolve/lot_main/no-photo.jpg)
Auction 160 | Lot 11246
Opening bid
120
€
1950 - 1970, very large, mostly neat cancelled stamp stock from posthorn with good early issues like Michel -no. 47 - 55, 160 - 63, 166 - 72, many further the 50 - he years including pages 2 etc., Michel 2.300.-
For lots of the clearance sale we accept underbids up to 30% starting price - if there is no higher bid!