Jim,
I believe it is counterfeit. I've noticed several showing up in some lots off
ebay.
See this thread.
https://goscf.com/t/49962&SearchTerms=R358Apparently somebody is taking Series 1954 issues and overprinting them with the more scarce series. Though this particular item you have is minimal in catalog value, nevertheless it could be somebody trying to perfect their technique. Your $3 does not have a serial number to prove or disprove this theory on this stamp, but the R358 referenced in my earlier thread is proof of somebody trying to counterfeit the reds.
Tom