GB King George the Fifth Inverted Watermarks

The 1924 – 26 Block Cypher issue is renowned for inverted watermarks on all of its values (½d through to 1s).

On the low values (½d, 1d and 1½d), inverted watermarks (from booklet panes) are relatively common. On the higher values however, inverted watermarks are errors and are therefore much scarcer.

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