Yes, It is. I have a few of these. You don't run across them that often though. Or, at least I haven't. But then again, I normally get them as part of bulk lots. I do not go looking for them.
Really only very large city PO's would have used precanceled PP Dues. This one is a Chicago, Illinois type L-4, inverted. This precancel type is very common adds only .05 to the value in catalogues, no additional value to precancel collectors & even reduced discount value to general US collectors.
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