This 2 cents stamp was issued for the Spanish Territories in the Gulf of Guinea (present-day Equatorial Guinea) in 1949. It depicts Bahía de San Carlos, a scenic coastal view with a canoe and rowers in the foreground. To the right, a portrait of General Francisco Franco, Spain’s head of state at the time, is framed in an oval medallion. Printed in sepia-brown by the Fábrica Nacional de Moneda y Timbre (FNMT), the design captures both local scenery and colonial authority. Stamps from this series were denominated in cents instead of pesetas to reflect colonial usage, making them highly interesting to collectors of Spanish colonial philately.