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Sometime in 1923, the long established printing firm The Philippine Education Company began using stamps with perforated initials PE / CO. The perforation known to be applied only on the front and back of the stamp. The use of the stamps was discontinued in 1927. |
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Single Line Watermark PIPS |
Single Line Watermark PIPS |
 
Both Unlisted |
Unlisted |
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RARE BLOCKS OF 4 Stamps Without Frames Reproduced From Photocopy |
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