Issued by Romania, this 860 Lei definitive stamp features the right-facing portrait of King Michael I (Mihai I), one of the country’s most historically significant monarchs. Produced during the turbulent post-World War II monetary inflation period, high-value denominations like this became essential for everyday postal use. The simple engraved royal profile design reflects late-monarchy Romanian philatelic style before the abolition of the kingdom in 1947. Collectors value this issue as one of the final royal definitive series of Romania. A strong historical and political transition-era collectible.