Edward VIII was King of the United Kingdom and the Dominions of the British Commonwealth, and Emperor of India, from 20 January to 11 December 1936 but was never crowned. He abdicated as King in order to marry Wallis Simpson, an American divorcee.
Many people thought that stamps portraying the King would be valuable, because of the abdication and because they were only on sale for a relatively short time. This is not the case. It took a long time to produce the next set of stamps portraying George VI (who was Edward's successor). Edward VIII stamps were still being dispensed from stamp machines until the beginning of 1938 and were sold in larger numbers. After the abdication, many people made a point of keeping stamps, thinking that they would become valuable. Large numbers were kept in mint condition.
The stamp used for this illusion was published on September 14, 1936.