Watch List notes:

UNITED STATES:ND (1862) 5 cents encased postage, HB-64, EP-67, Choice VF, Red-Brown Jefferson 5 cents stamp in encasement advertising Brown's Bronchial Troches, stamp is bright and centered a bit high, mica has two small edge marks but no crazing, a bit of dirt between stamp and mica, case has just a trace of the original silvering between letters, R-4.

Estimate: 200- 250 USD