In the 2009 Scott catalog, this is Japan #558 (issued 1952). The stamp depicts the goddess Kannon; specifically the Nyoirin Kannon of Chuguji. This stamp is a redrawn design of an earlier stamp issued in 1951. In this stamp, the "00" in the denomination has been removed, so that it only says "50". It is a very common stamp and valued at the catalog mininum of 20c.

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