Help Identifying Symbol, Is It A Pre Cancel Or?

Hello everyone. I am a beginner collector that started from inheriting a stamp collection. I have this one stamp unlike the rest and I have no idea what its considered or what it means. Is it a precancel? Or am I far off on my guess? I've attached a photo of front and back of stamp incase it helps seeing the front to identify it. The symbol made by punching holes in it is what Im curious about mainly but I greatly appreciate any help or info anyone has. Thank you!

Such holes were often used as security device to prevent clerks selling stamps back to the post office. They are called 'perfins.'

PERFINS = PERForated INitials

I cannot locate your Perfin
Generally called a "Circle M"

One "circle M", is the Central Michigan College of Education
another is the State of Michigan in Lansing.

However the punctures do not match, the holes have to match count, and design
to identify the user.

Listed as pattern "M12" in my (very outdated) 1979 edition of the Catalog of U.S. Perfins, used by the state of Montana. Note the partial cancel from Helena, MT.

Your stamp would originally have been perforated on all four sides, but has been badly damaged by trimming. It still serves a nice educational purpose here.

Thank you all for your info. You've been very helpful. This definitely is one of the more damaged stamps but thought the M would have some sort of story or meaning. Now I know#128522;

Welcome to the Forum, Kacinicole17.
Glad you've joined us.

Thank you jleb1979. It seems like I finally found a decent place to join. Now maybe I can get somewhere or sell my collection to the right person#128522;