Hi James,

Thank you for contacting Mearto with your appraisal inquiry.
The very rare (and valuable) version of this stamp have 11 performations on the top and 11 perforations on the sides; yours has 12 on the side and 10-1/2 on the top. Also, the small loss from the lower edge is a flaw that keeps the value low.
Based on the photos and information provided, and subject to examination, this is:

An American 1929 Scott 632 Benjamin Franklin One-Cent Stamp
uneven margins, cancelled
1 by 7/8 inches
CONDITION: small edge losses, cancelled, ungraded
$3-5*
*represents a fair-market value for auction purposes; retail or asking price may vary.

Please let us know if you have additional items to appraise, and thank you again for using Mearto.