George Tallcot first concocted his Magic Cure around 1870. He used general issue proprietary stamps until 1877, when his four-cent black private die proprietaries were first issued. These were continued until September 1, 1882. 61,973 were printed on silk, pink and watermarked papers. The one above is on watermarked paper.
Henry Holcombe implies that the stamps were cancelled with a punch in the center, and those that were not so punched were remainders.
The two-cent red Tallcot stamp was issued from January of 1879 until June 5, 1883. 117,950 were printed, all on watermarked paper.
This copy is a remainder if a center punch does denote use.