Note: drawing in the frame line (see red ovals) can make this Type II, #32, catalog value $300, appear to be either a Type I, #31, or a Type IV, #34, with catalog values of $1,250 and $2,250 respectively.

In addition, removing the cancel makes the stamp appear unused, in which case the catalog value would rise from $2,500 to either $8,750 or $17,000, respectively.

Not bad for a stamp that the faker probably paid $30 for because of the pen cancel, which actually reduces the catalog value from $300 to $150 to begin with.