This 1948 overprinted stamp from the Northeastern Provinces of China features a bold black surcharge revaluing the original $30 denomination to $500, reflecting the rapid inflation that characterized the collapsing economy of the late Republic era. The underlying design presents a formal gravure-printed portrait of Dr. Sun Yat-sen, a central figure in Chinese republicanism and revolutionary politics. The overprint “C.E.P.W.” signifies production by the Central Engraving & Printing Works and marks the issue’s role as part of emergency fiscal adjustments in the region. Measuring 23 x 27 mm, the stamp is printed in brown on unwatermarked paper, line perforated 14, and issued ungummed as was typical for Northeast regional issues. It is catalogued as Scott CN-IM-NE 41 and represents one of many local adaptations made to maintain postal function during China’s post-war monetary collapse. Condition Mint never hinged with full margins, clean surcharge, and strong color. Estimate "$28 – 36".