This reads "EMPIRE". There are two types of this, depending on whether the hairline(s) indicated are two close lines often merging into one, or two clearly separated lines. The upper neck is more heavily shaded in the second also. This is the first type, so Scott 14, Yvert 13.

Grade is average. This has a strong stain spot showing through to the back. There may be some thin specks on the back. The type and any problems are hard to tell because your image is out of focus. This is then worth about a dollar or two.