Nice example of an offset. The for sharing. It's interesting to see the discrepancy between the centre and the frame, especially at the base and lower right-hand of the stamp. I can see why an inexperienced eye might see this as a re-entry.
By the by, Warwick and Warwick have a lovely auction of classic France coming up in the next couple of weeks. I went to a private viewing yesterday (Friday). Some of the Merson material is truly remarkable.
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