It's addressed to a long time collector; I have seen large parts of his collection within the last few years as an auction lot someplace. I suspect that the label is original to the cover, since there is no real reason to fake it.
From my poor memory, I believe this "Cancelled" rubber stamp was originally supplied to post offices for cancelling the World War II Savings stamps after they had been mounted in a book and turned into the post office for redemption in the form of a Savings Bond.
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