After carefully studying the United Cigar stamp, I decided to do some experimenting to justify my findings.
In one, I stamped the back of a T206 scrap twice with my name (only stamp I had). One side was put on over paper loss as seen on top and the other was stamped over the print and then I removed a thin layer of paper after, bottom side. The results and ink saturation were completely different from the Cigar print (please let's not beat that dead horse again). Look for the Kevin stamped T206 on the BST soon
Just from your pic, it would seem like the card was first stamped over the print and then the paper loss occurred. At least you know it was paid for.
- in-depth education on advanced card doctoring techniques & detection with detailed examples