Lot
670 
Hong Kong, 1903 Hong Kong Registered to Hamburg. Registered letter from Kruse & Co., philatelically franked QV 2c, 4c, 5c, and 10c, and KE 1c, 4c, and 20c, cancelled "Registered GPO Hong Kong Sp 22 03", with Tsang type D registration label, about five examples seen, this earliest (recorded 10.03-11.04), two types of "Hamburg" back-stamp, 26 10 03, Very Fine. Estimate $200 - 300.
Realized: $450