This engraved 2 cent stamp from the 1913 “Junk Issue” of the Republic of China features a traditional Chinese junk sailing across stylized waters, printed in green. The design reflects the early republic’s emphasis on maritime commerce and national identity. Produced by Waterlow & Sons Ltd. in London using intaglio (gravure) printing, the stamp has a comb perforation of 14 and is ungummed, in accordance with standard practice of the period. It bears a clear circular cancellation from Tientsin (天津), an important treaty port and center of political influence during the early Republican years. This issue is part of the first definitive stamp series under the new regime. It is listed in major catalogs as Michel CN-IM 150 I, Scott CN-IM 204, Yvert et Tellier CN-IM 147, Stanley Gibbons CN-IM 270, and China Stamp Society CN-IM 242. Estimate "$10 – 15"