I had to research this one a little in the Walsh NSSC catalog, here is what I found.
1. It is probably Scott/Unitrade # 32A from about 1871. We know this is the later Prince of Wales version from the 1869 stamp because it is Die II (American Bank Note changed slightly from the National Bank Note version. I can provide those details if you like). 2. Its color appears to be brown lilac, and my view it is perforated and someone just clipped with scissors the sides. There was a rouletted version but this is probably not that one (#37). You can check the perforation to see if is 12 to make sure. 3. There were imperforated color trial versions, but they all had no gum, and it appears that this stamp has gum on the back.
I suppose it might be possible that this was an imperforated color trial that someone perforated on two sides, and regummed...but it seems highly unlikely. If you really wanted to rule this out, you could ascertain the color to see if it was one of the color trials (there were 7 flavors)
The value is about $50 Mint VF. This is a Good stamp, IMHO. However, the apparent lack of a hinge, being NH could make it 6x more valuable. The imperforate color trial NG are worth $120 to $170 VF.
If these were printed by American Bank Note (ABN) and some U.S. stamps from the same time period were also printed by ABN then some of them may have one or two straight edges like some U.S. stamps have.
It is possible that this is imperforated on two sides, but my humble opinion is that it is not, based on (1) Walsh's 7th and 9th Edition of the Newfoundland Specialized Stamp Catalogue which does not mention it and references all as perforated or rouletted. There were color trials imperforate, but without gum. I also pulled out Boggs "The Postage Stamps and Postal History of Newfoundland", which is pretty definitive history book and it has nothing on this either. It does say "Printed in sheets of one hundred and also line perforated 12. Oddly it goes into some length on ABN's efforts to roulette the stamp.
However, I am not an expert just an avid Newfoundland collector and admit it is interesting enough. If I had the stamp, I would send it to Greene et al, to have them examine it, in the off chance that it was a lower right corner as Jogil and Puzzler suggest above.
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