This is Trengganu's (now called Terengganu) highest denomination stamp - $100 used both for postage and revenue purposes. It is unimaginable though, what kind of postage would cost $100 in 1921-1941. The stamp depicts Trengganu's Sultan Sulaiman Badrul Alam Shah (1920-1942). In Stanley Gibbons catalogue, this is SG47 and values at £6000 for mint stamp. In reality though, as always the case, the general market price is usually lower than that, and with this particular stamp, the hammer price is €3250, sold recently by a Spanish seller in an auction in March 22, 2010. Overall the stamp is beautifully preserved, well centered, with defect-free perforations. This is probably the "All-China-is-Red" of Trengganu, due to the fact that it is red and the most expensive of all Trengganu's stamps.