VERY FINE. A PARTICULARLY CHOICE AND RARE POSITION BLOCK OF FOUR OF THE 5-CENTAVO WITH DOUBLE OVERPRINT.
According to Canal Zone Stamps only two panes contained the error. One was from Setting I. The other was from Setting V. Most examples from Setting I were used on mail to the West Indies. Only two examples can exist with the missing "P" of "Panama" (one from each setting); therefore, this is the unique example from Setting I.
Scott Retail as normal block of four, with no premium for the varieties or for the multiple.