1859 Bahamas One Penny Stamp

Fugitive ink just means it is soluble in water, most are not, but some like Netherlands Indies, the stamp image completely disappears in water.
Your is probably fine, I just don't like to presume to others.

Sundry information on your stamp, and territory.
The Pineapple and the Conch Shell
"Interinsular" postage

Not my image:


Askphil :

Bahamas: island group of British West Indies, British Commonwealth Independent State; currency: 12 pence = 1 shilling;
20 shillings = 1 pound, 100 cents = 1 dollar (1966),
1760s: letters known,
1763: became a British colony,
1804: Bahamas straight line cancel used,
1841: "Crown Paid" handstamp initiated by Royal Mail Line,
1858-59, Apr.: stamps of Great Britain used,
1859, June 10: "Interinsular Postage" inter-island mail inscription for first stamps issued since external mails were under control of London until May 1860,
1860: No.1, 1 penny dull lake; first stamp,
1860, May: "Interinsular Postage" inscription removed from stamps,
1863: Bahamas inscription used,
1915-16: Bahamas stamps sold in Canada,
1916: first special delivery stamp, 1917, May 18: first semipostal stamp, 1918, Feb. 21: first War Tax stamp issued,
1964, Jan. 7: internal self-government,
1973, July 10: independence,
1974, April 24: joined UPU.
1983, Oct. 13: first air mail stamp issued.

Thank you. This project will take years!

If you have stamps from many countries, then get a copy of scott standard postage stamp catalogue for you local library. It comes in 6 volumes based on alphabetical order of the countries. This will be your best resource. For US Scott specialized catalogue for US works the best, also available from your local library. And remember that most stamps with catalogue value of $0.28 are usually worth a penny or two in a real world, with some exceptions.