I came across this in my inherited collection and I believe it is very rare? value anyone? I see the postmark is dated 1961 as well so is this correct?
No, you have the run-of-the-mill issue. The lettering under the Coat of Arms shows quite clearly University Golden Jubilee. You do not have the missing gold printing variety.
Don't assume you have the valuable varieties of the stamps in your inheritance. You will only be disappointed.
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