I'm inclined to say fake however if one were to fake something like this then why would they add a margin straight-edge? The watermark looks a bit hinkie though? Unsure?
Looks like a genuine Jamaica #4a(1860) in the Scott catalog to me. I would say it is a used stamp (looks like a washed cancel around top?) with a major fault.
As I mentioned in another one of your threads, it would be helpful if you would state right away in your first post -- why do you think it is a fake, rather than to leave us guessing.
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