THIS IS A VERY NICE EXAMPLE OF A MISPERFORATED STAMP. THE TOP MARGIN AND THE RIGHT MARGIN ARE HUGE. THIS OCCURRED ON SCOTT #220, THE FOUR CENT KING GEORGE V STAMP OF THE PICTORIAL SERIES ISSUED IN 1935. THE STAMP IS IN VERY NICE CONDITION. IT IS A USED STAMP. FOR OTHER ITEMS OF PHILATELIC INTEREST ESPECIALLY ERROR STAMPS PLEASE VISIT MY OTHER ADS.