1936 Italy kingdom of Victor Emmanuel III, insurance stamp Lire 1,50 light blu perforated zig-zag valid for postal packages and registered letters two sections joined horizontally and perforated in the center, the one on the left “INSURANCE INSTITUTE. AND PREVID. POSTELEGRAPHIC” and the one on the right Savoy coat of arms crowned between two fasces. 1 value, perfect, mint and never hinged. Sassone catalog no. 17, Euro 375.00.