Public Auction 327 Thursday, October 6, 2016

5264 Trengganu: 1917-18 Red Cross opt 4c+2c orange, variety "SS inverted". Superb MLH. SG 20b cat £2000+. Extremely rare error as it was quickly corrected. Certificate can be obtained on request. (P) $2200 $3000

5265 Trengganu: 1917-18 Red Cross opt 4c+2c horiz left margin pr, error "CSOSS for CROSS" at left. VF fresh MUH. SG 20/20c cat £182 for M, should be at least £364 MUH, plus premium for pr (P) $275 $375

5266 Trengganu: 1917-18 "RED CROSS 2c" opt Sultan 4c orange, variety "CSOSS" for "CROSS", plus opt shifted & diag angled. VF fresh MLH. SG 20c(var), normal error cat £180 alone, while opt shift should be at least +50%, so £270+. (P) $200 $300

5267 Trengganu: 1917-18 Red Cross opt 4c+2c orange, error opt DOUBLE, the 2nd characteristically weaker. F-VF MLH. SG 20d cat £1300. Extremely rare as only 2 rows of 6 had the error (only 12 stamps). Certificate can be obtained on request. (P) $1000 $1500

5268 Trengganu: 1917-18 Red Cross opt 4c+2c orange, error opt shifted so 2c is at top. VF MUH. SG 20(var). (P) $80 $120

5269 Trengganu: 1917-18 Red Cross opt 4c+2c brown & green, vert error pr, lower stamp w/o opt. Superb fresh MLH. SG 21a cat £4750+ & undercatalogued. Great rarity as only 1 row of 6 existed. Certificate can be obtained on request. (P) $5000 $8000

5270 Trengganu: 1917-18 Red Cross opt 8c+2c blue se-tenant vert pr, bottom stamp variety "comma after 2c", plus opt shifted up. F-VF MUH. SG 22/22a. $30 $50

5271 Trengganu: 1917-18 "RED CROSS 2c" opt Sultan 8c ultramarine, se-tenant vert pr, bottom stamp variety "SS" in "CROSS" inverted. Superb MLH/MUH, variety stamp MUH. SG 22/22b cat £1000 for M, should be at least double, £2000 MUH, plus premium for pr. Certificate can be obtained on request. (P) $1500 $2500

5272 Trengganu: 1917 Red Cross opt 8c+2c blue horiz marginal pr with variety "CSOSS for CROSS" at left. VF fresh MUH. SG 22c cat £150, should be at least £300 MUH (P) $220 $300

5273 Trengganu: 1917-18 Red Cross opt 8c+2c horiz left margin pr, error "CSOSS for CROSS" at left. VF fresh MUH. SG 22/22c cat £151 for M, should be at least £302 MUH, plus premium for pr (P) $220 $300

5274 Trengganu: 1917-18 "RED CROSS 2c" opt Sultan 8c ultramarine, variety 'CSOSS" for "CROSS". VF MLH. SG 22c cat £150. (P) $120 $160

5275 Trengganu: 1917-18 "RED CROSS 2c" opt Sultan 8c ultramarine, error "RED CROSS" omitted at top of stamp, but at base below "2c" due to misplaced opt which shifts it to the stamp above. VF MUH, right marginal. SG 22d(var) cat £500 for normal omitted M, should be at least double, £1000 MUH. (P) $200 $300

5276 Trengganu: 1921-41 Sultan $1 purple & blue on blue & $3 green & red on emerald, wmk mult crown. VF fresh M. SG 23-24 cat £142. (2). (P) $110 $150

5277 Trengganu: 1921-41 Sultan $5 green & red on pale yellow, top marginal with partial plate no.1, wmk mult crown. Stamp superb fresh MUH. SG 25 cat £170 for M, should be at least double, £340 MUH. (P) $300 $450

5278 Trengganu: 1921-41 Sultan 1c-$3, wmk script. VF M/MLH. SG 26-43 cat £223. (18). (P) $130 $170

5279 Trengganu: 1921-41 Sultan set 5c-$5 wmk script, opt/perf SPECIMEN. VF fresh M/MLH. SG 26-44s cat £1000+ & under-catalogued. Very rare as a full set. (19). (P) $1100 $1500

5280 Trengganu: 1921-41 Sultan $50 green & yellow, opt SPECIMEN. Superb fresh MUH, pristine never hinged original gum. SG 46s cat £600 for M, should be at least double, £1200 MUH (normal cat £3250 for M). (P) $1000 $1500

5281 Trengganu: 1921-41 Sultan $100 green & scarlet, top value. Postally superb U, on piece, tied by correct bilingual "Trengganu" cds. SG 47 cat £11,000+ for loose used & such on piece should be worth +50% so £16,500+. Stunning example of this extremely rare top value, which seems greatly under-catalogued used vs mint as we could not find any other used examples offered anywhere in last 20 years! BPA photo-cert. (P) $15000 $25000

5282 Trengganu: 1921-41 Sultan $100 green & scarlet, top value, opt SPECIMEN. Superb fresh MUH, pristine never hinged original gum, beautiful bright colours. SG 47s cat £1100 for M, so should be at least double, £2200 MUH (normal cat £9500 for M). (P) $2000 $3000

5283 Trengganu: 1922 Malaya-Borneo opt set 2c-$5, the 4c, 5c & 20c with variety "raised stop after Exhibition". VF MLH. SG 48-58 cat £622. Rare, only 776 sets issued. (11). (P) $500 $700

5284 Trengganu: 1922 Malaya-Borneo opt Sultan 30c dull purple & black, UR cnr marginal horiz pr, left stamp variety "no stop". VF fresh MUH. SG 55/55f cat £139 as M singles, should be at least double, £278 MUH. (2). (P) $150 $250

5285 Trengganu: 1922 Malaya-Borneo opt $1 black & carmine on blue, variety small second "A" in "Malaya". VF fresh MUH. SG 56d cat £27 for M, should be at least double, £54 MUH. Only 3693 sold, so only 308 of this variety. (P) $40 $60

5286 Trengganu: 1922 Malaya-Borneo opt $3 green & red on green, variety oval last "O" in "Borneo". VF MUH. SG 57b cat £425 for M, should be at least double, £850 MUH. Only 899 printed, so only 75 of this variety. (P) $600 $900

5287 Trengganu: 1922 Malaya-Borneo opt $3 green & red on green, variety small second "A" in "Malaya". F-VF fresh MUH. SG 57d cat £425 for M, should be at least double, £850 MUH. Only 899 sold, so only 75 of this variety. (P) $450 $600

5288 Trengganu: 1922 Malaya-Borneo opt $5 green & dull purple, variety small second "A" in "Malaya". Superb fresh MUH, UR cnr marginal. SG 58d cat £600 for M, should be at least double, £1200 MUH. Only 776 printed, so only 153 with variety. Certificate can be obtained on request. (P) $900 $1300

5289 Trengganu: 1941 Sultan 2c yellow-orange, unissued due to Japanese occupation. F-VF MLH. SG footnote cat £325. (P) $200 $300

5290 Trengganu: 1941 Sultan 6c grey unissued due to Japanese occupation. F-VF MLH. SG footnote cat £325. (P) $200 $300

5291 Trengganu: 1941 Sultan 8c red unissued due to Japanese occupation. F-VF MLH. SG footnote cat £325. (P) $200 $300

5292 Malayan Postal Union: 1936-38 Postage Due set 1c-50c. VF MUH. SG D1-6 cat £160. (6). (P) $120 $160

5293 Malayan Postal Union: 1936-38 Postage Due set 1c-50c, blks of 4, wmk script. VF MUH, 8c darker gum. SG D1-6 cat £640 for singles, plus premium for blks. (6 blks of 4). (P) $250 $400

5294 Malayan Postal Union: 1936-38 Postage Due set 1c-50c, wmk script. VF MUH. SG D1-6 cat £160. (6). (P) $120 $160

MALAYA - JAPANESE OCCUPATION

5295 Penang: 1942 Dai Nippon opt KGVI 3c green, error opt DOUBLE, one inverted. VF fresh MLH. SG J79a cat £450. Only 1 sheet printed. 2014 Ceremuga photo cert. (P) $400 $600

5296 Penang: 1942 Dai Nippon opt KGVI 12c blue error opt DOUBLE -but only 1 "Penang", so from top row. VF MLH. SG J83b cat £475. Only 1 sheet printed so only 10 examples of this combination. 2014 Ceremuga photo cert. (P) $400 $600

5297 Penang: 1942 Dai Nippon opt KGVI 15c blue vert pr, error lower stamp missing "I" in Nippon, both opt INVERTED. Superb MLH, missing "I" MUH. SG J84a/b cat £850+++ for normal inverts, while missing I variety is x60 normal, so invert with variety would be at least x10, so est £4250, total est £4675++. Only 1 invert sheet recorded so a totally UNIQUE error combination. 2014 Ceremuga photo cert. (P) $1300 $2000

5298 Penang: 1942 Dai Nippon opt KGVI 15c blue, error opt INVERTED. Superb MLH. SG J84b cat £425. Only 1 sheet printed. 2014 Ceremuga photo cert. (P) $400 $600

5299 Penang: 1942 "Okugawa Akira" (4 characters) round red seal opt KGVI 2c orange, lower margin with control 1. Superb MUH. SG mentioned in footnote but unpriced, Tan GHT2, JSCA 2M16. Very rare stamp as only part of 1 sheet issued, & this is the only example with control recorded. 1960 BPA photo-cert for blk, plus 2015 Ceremuga photo-cert. (P) $800 $1200

5300 Penang: 1942 cover franked Okugawa seal h/s opt Straits KGVI 1c black (3), Itchiburi seal h/s opt KGVI 1c black (3), plus "Dai Nippon 2602 Penang" opts (2), all tied by commem violet cds for Emperor's 23rd birthday (pmk only in use for 1 day only), locally addressed. SG J56, J69 & J77 cat £565 as loose stamps, & "from x12" on cover. Correctly franked 8c & extremely rare usage of all 3 diff 1c opts! 2015 Ceremuga photo-cert. (P) $1000 $2000

5301 Penang: 1942 "Dai Nippon 2602 Penang" opt KGVI 2c green Postcard (stains) with "Postage Paid Malaya A 2 CTS" red cachet. Addressed & with proper message, but no pmk. Tan PP3 cat MR1000 UN or MR1600 U. Very rare. (P) $400 $600

5302 Penang: 1942 cover franked Okugawa seal h/s 1c, 2c, 3c, 5c & 10c, plus Itchiburi seal h/s KGVI 8c, tied by "In Commemoration Tencho-Setsu Dai Nippon Penang 29th April 17" cds on local cover. SG J56-59, 61 & 73 cat £288 as loose stamps, & "from x12" on cover. (P) $375 $500

5303 Trengganu: 1942 Dai Nippon opt Sultan 1c-30c. F-VFU. SG J119-31 cat £544. (13). (P) $300 $450

5304 General Issues - Straits: 1942 boxed red h/s KGVI 1c black, error h/s INVERTED. VF MUH. SG J146(var). Rare. (P) $100 $200

5305 General Issues - Straits: 1942 boxed red h/s KGVI 1c black, error h/s INVERTED. VF MUH. SG J146(var). Rare. (P) $100 $200

5306 General Issues - Straits: 1942 boxed red h/s KGVI 2c orange, error h/s INVERTED. SG J148(var). VF MUH. Rare. (P) $150 $250

5307 General Issues - Straits: 1942 boxed violet h/s KGVI 2c orange. VF MLH. SG J148b cat £250. Rare genuine. (P) $180 $250

5308 General Issues - Perak: 1942 Dai Nippon 2602 Malaya opt Sultan 2c-$5 (no $1). VF MUH. SG exJ246-53 cat £120. (7) (P) $100 $150

5309 General Issues - Perak: 1942 Dai Nippon opt Sultan 3c, vert blk of 16 being 2 columns from an error sheet that had the opt totally misplaced diag, resulting in 7 stamps with shifted diag opts & 9 stamps w/o opts, so 2 se-tenant vert prs with & w/o opts. VF MUH, tropicalised gum as always. SG J247(var) & J247(b) with the 2 prs w/ & w/o opt cat £1300, while diag opts unlisted & have to be estimated at least at £200 ea for the 4 extra stamps. So total est cat £2200++. A stunning error block for the specialist! 2011 Ceremuga photo-cert. (16). (P) $1200 $2000

5310 General Issues - Perak: 1942 Dai Nippon opt Sultan 8c scarlet, error opt DOUBLE, one INVERTED, on cover (bit tropicalised) tied by Kuala Lumpur cds, violet boxed censor chop on left. SG J248b cat £250 as loose stamp & "from x12" on cover, so £3000! Correctly franked & extremely rare. Certificate can be obtained on request. (P) $700 $1000

5311 General Issues - Selangor: 1942-44 Kanji opt Mosque 3c/5c blk of 6, variety "inverted s in cts" on centre top stamp. Superb MUH. SG 290/290a cat £37++, plus premium for blk. (P) $40 $60

5312 General Issues: 1942 "Dai Nippon 2602 Malaya 2cts" opt Negri Sembilan 2c orange Postcard opt. F-VF UN. Tan DP2. (P) $100 $150

5313 General Issues: 1943 cover franked Japan 1s & 7s, tied by red commem pmk for "1st Anniv of Fall of Singapore", probably for Kuala Lumpur. VF. Scarce franking. (P) $120 $200

5314 General Issues: 1943 Pictorial 2c & 4c blks of 4 from 1945 Singapore typo printing, with rouletting grossly shifted horiz & vertically, ea with Japanese "Syonan 2905 8 16" cds, on reverse of Occup 4c Postcard with same cds. Addressed locally, censor boxed. SG J298(var) & J300(var) mentioned in footnote. Spectacular & probably unique. (P) $400 $800

5315 General Issues - Pahang: 1942 Censored cover franked boxed black h/s Sultan 8c red, tied by "Kuala Lumpur 5 1 2602" cds, with resealing tape tied by boxed censor h/s. With original letter. SG J180 cat £8, & "from x6" on cover. $150 $250

5316 General Issues - Straits: 1942 censored cover franked Dai Nippon opt Straits KGVI 2c orange (4), tied by 2-ring Katakana "Penang 3 17 2602" cds. To Johore, with censor crimp & h/s. SG J224. $120 $200

5317 General Issues: 1943 cover franked Japan 2s & 6s, tied by red commem pmk for "1st Anniv of Fall of Singapore" probably for Kuala Lumpur PO. VF. Rare franking. (P) $100 $200

5318 General Issues: 1943 cover franked vertical Kanji opt Perak 2c/5c &Negri Sembilan 1c, plus Japan 5s, tied by large red Fall of Singapore Anniv pmk. From Kerling to Rasa. $65 $100

5319 General Issues-Perak: 1943 Kanji opt Sultan 2c orange Postcard with boxed "Malaya 2 cts Postage". VFU with "Batu Gajah 3 10 2603" cds, plus censor h/s. Message from Malayan Rubber Co. $180 $250

MALAYA - THAI OCCUPATION

5320 Trengganu: 1944 War Memorial set 1c-15c perf 12½, ex 8c perf 12½x11. VFU. SG TM1-6 cat £180. (6). (P) $150 $200

MALAYA - LABUAN

5321 1880 "8" in black on QV 12c carmine with "12" obliterated in red, variety "8" inverted. Superb fresh UN as always. SG 11a cat £2000. Very rare. Exp Champion plus BPA photo-cert. (P) $1300 $2000

5322 1885 '2 Cents' opt QV 8c carmine. VF fresh MLH. SG 23 cat £225. (P) $120 $180

5323 1892 "Two Cents" on QV 40c ochre. VF fresh M. SG 49 cat £170. (P) $130 $180

5324 1894 QV set 2c-40c, no wmk, h/s SPECIMEN. VF fresh M. SG 51-7s cat £130. (7). (P) $110 $150

5325 1894 Pictorial 1c Dyak Chief with local h/s SPECIMEN (17x3mm), plus normal printed SPECIMEN for comparison. M, sl flts. SG 62s(var). Extremely rare specialist item, only 2 examples of this type recorded! (2) (P) $150 $250

5326 1894-96 Pictorial 1c perf 14½-15, vert top marginal pr, error IMPERF between stamps & between margin. VF CTO. SG 62a(var) cat £650+. Very rare error only known CTO. 2007 BPA photo cert. (P) $550 $800

5327 1895 opt Arms set 4c-40c on $1. Postally VFU, all "Labuan" cds. SG 75-79 cat £120. (5). (P) $70 $100

5328 1896 "LABUAN" opt Arms 25c green, IMPERF horiz pr, with inverted impressions on back. Superb UN, 4 margins. SG 80b(var), normals cat £84. (P) $100 $200

5329 1896 "LABUAN" opt Arms 50c maroon, IMPERF horiz pr, with inverted impression on back. Superb UN, 4 margins. SG 81b(var) normals cat £84. (P) $100 $200

5330 1896 "LABUAN" opt Arms $1 blue, IMPERF horiz pr, with DOUBLE PRINTED impressions on back. Superb UN, 4 margins. SG 82b(var) normals cat £168. (P) $100 $200

5331 1896 Jubilee opt 2c black & blue marginal vertical pr, variety "imperf horiz". F-VF M/MUH. SG 84a cat £1500+. Ex "Bickly" & "Halfpenny". Extremely rare as only several recorded. (P) $1200 $1800

5332 1897-1901 Pictorial set 1c-24c, opt SPECIMEN. F-VFM. SG 89-97s cat £180. (9). (P) $110 $150

5333 1897-98 Pictorials set 12c-24c opt SPECIMEN. F-VF fresh MUH. SG 98-101s cat £70 for M, should be at least £140 MUH (3) (P) $120 $180

5334 1897-98 Pictorial set 12c-24c opt SPECIMEN. F-VF fresh M. SG 98-101s cat £70. (3). (P) $50 $70

5335 1899 Large "4 CENTS" opt Pictorial set 5c-$1. VFM. SG 102-10 cat £250. (9). (P) $150 $200

5336 1899 Large "4 CENTS" opt Pictorial set 5c-$1. F-VF fresh M/MLH. SG 102-10 cat £250. (9). (P) $150 $250

5337 1900-02 Pictorial set 2c-16c, opt SPECIMEN. VF fresh M. SG 111-16s cat £170. (6). (P) $130 $170

5338 1901-05 LABUAN opt Arms $2 dull green. Superb MLH, nice original gum, excellent centring & perfs. SG 140 cat £3500+. Extremely rare so nice. 2010 Behr photo-cert. (P) $3800 $5000

5339 1901 Postage Due vert opt Stag 2c black & green, perf 14, error opt DOUBLE. Superb fresh M. SG D1a cat £275+. (P) $250 $400

5340 1901 Postage Due opt Pictorial 4c error opt DOUBLE. VFU/CTO. SG D3a cat £850 & much underpriced. Very rare error which only exists CTO. (P) $800 $1200

5341 1901 Postage Due opt on Pictorial 8c black & vermilion, with error INVERTED frame/centre & inverted opt. Superb fresh VFU/CTO with bar cancel as always (does not exist mint), with bright colours. SG D6ba cat £8500+. Only 1 sheet believed printed & very few have survived, especially in such perfect condition. 2012 Behr AIEP photo cert. (P) $7000 $10000

5342 1901 Postage Due vert opt Crocodile 12c black & vermilion, error opt reading down. Superb U/CTO with barred pmk (does not exist mint). SG D7a cat £1300 & under-catalogued as extremely rare. Certificate can be obtained on request. (P) $1100 $1500

5343 1904 Small "4 cents" opt Pictorial set 5c-$1. VFM. SG 129-137 cat £170. (9). (P) $120 $160

5344 1905 "LABUAN" opt $5 bright purple. Superb fresh UN, perfect perfs & nice colour. SG 141 cat £6000+ as UN (as does not exist M). Beautiful genuine example of this high value rarity. 1998 BPA photo-cert. (P) $6000 $9000

MALAYA - NORTH BORNEO

5345 1883-86 Arms ½c - $2 blue-grey imperf composite proof sheetlet, on thin no wmk paper inc unissued 12c, 25c & $2. VF UN as made. Extremely rare & spectacular. (P) $1000 $1500

5346 1886 Arms 1c orange, IMPERF horiz pr. VFU, 4 margins. SG 9a cat £275. (P) $150 $200

5347 1886 "3 CENTS" opt Arms 4c pink, perf 14. VFU, barred oval pmk. SG 18 cat £150. (P) $100 $150

5348 1886-87 Arms ½c, 1c, 2c, 4c, 8c, 10c & 12c orange (12c unissued) inscribed POSTAGE imperf PROOFS, wove paper, from composite die proof sheetlet. VF UN, as made, all 4 margins. SG ex 21b-28(p). (7). (P) $300 $500

5349 1886 "Ten Cents Revenue" opt Arms 50c violet postal fiscal. VF fresh UN. SG F3 cat £225. (P) $80 $120

5350 1886 "Ten Cents Revenue" opt Arms 50c violet postal fiscal. VFU, barred pmk. SG F3 cat £250. (P) $130 $200

5351 1886 "Ten Cents Revenue" opt Arms 50c violet, postal fiscal, variety "no stop after Cents & stop after Revenue". F-VF fresh M. SG F3b cat £600. (P) $400 $600

5352 1886 "Ten Cents Revenue" opt Arms 50c violet postal fiscal, variety "No stop after "cents" & stop after "Revenue". F/C, small tear at left. SG F3b cat £650 for U. Rare variety. (P) $130 $200

5353 1886 "Ten Cents Revenue" opt Arms 50c violet, postal fiscal, variety "no stop after Cents & stop after Revenue". VF F/C, m/s date "10/86". SG F3b cat £650 for U. Rare variety. (P) $180 $250

5354 1888-92 Arms 4c rose-pink "Postage & Revenue", horiz pr, error, IMPERF vertically. F-VF CTO, barred pmk (the only way this error is found). SG 40a cat £250. (P) $150 $250

5355 1889 Arms $25 bistre revenue imperf DIE PROOF inscribed British North Borneo (issued colour blue), 119x142mm. VF UN, 4 margins. Bft 6(p). Probably unique. (P) $700 $1000

5356 1889 Arms $10 brown, variety "DOLLAPS for DOLLARS". Superb MLH. SG 50b cat £1500+ & undercatalogued. Very rare & desirable variety. Certificate can be obtained on request. (P) $1300 $2000

5357 1890 "Two Cents" opt Arms 25c indigo error surch INVERTED. Superb fresh M. SG 51a cat £450 & much under-catalogued (P) $375 $500

5358 1890 Two Cents opt Arms 25c indigo, error opt INVERTED. VFU, red Sandakan cds. SG 51a cat £450. Very rare. (P) $350 $500

5359 1891-92 Surch "6 cents" on Arms 8c green, POSTAGE inscription. Superb fresh UN as issued (stamp previously had some tone spots which have been professionally cleaned), nice colour & excellent centring. SG 54 cat £9000+. The rarest stamp of North Borneo & one of the major rarities of the Malaya region. 1938 RPSL & 2012 Behr AIEP photo certs. (P) $6000 $9000

5360 1891-92 "6 cents" opt Arms 8c green "Postage & Revenue", error inverted "c" in "cents". Postally VFU, oval barred pmk. SG 55b cat £750. 2003 RPSL photo cert. (P) $500 $700

5361 1891-92 "6 cents" opt Arms 8c green, Postage & revenue, variety Large "S" in cents. VF fresh UN as issued. SG 55d cat £250 (P) $150 $250

5362 1891-62 "6 cents" opt Arms 8c green Postage & Revenue, variety large "S" in cents. VFU appearance, small thin, diamond "dotted" pmk. SG 55d cat £200. (P) $70 $100

5363 1891-92 "6 cents" opt Arms 10c blue. VF UN as issued. SG 57 cat £225. (P) $120 $180

5364 1894 Dyak Chief 1c black & purple proof, perf 15. VF fresh M. SG 66(p). (P) $80 $120

5366 1894 Pictorial 6c black & green Arms colour trial PROOF with "Waterlow & Sons Ltd Specimen" opt in sheetlet of 9, ea with small security punch. Superb UN as made. SG 73(p). Rare & attractive. (P) $450 $700

5367 1894 Dhow 8c blue & brown colour trial PROOF (issued black & dull purple), perf 15. Superb UN. SG 74(p). Rare & attractive (P) $130 $200

5368 1894 Pictorial 12c black & blue trial proof with " Waterlow & Sons Ltd Specimen" opt in sheetlet of 9, ea with sm security punch. Stamps superb fresh MUH. SG 76(p). Rare & attractive. (P) $450 $700

5369 1894 Pictorial 18c black & violet colour trial PROOF with "Waterlow & Sons Ltd Specimen" opt in sheetlet of 9, ea with sm security punch. VF fresh UN as made. SG 78(p). Rare & attractive (P) $400 $600

5370 1894 Mt Kinabalu 18c black & dull purple colour trial PROOF, perf 15. Superb fresh MUH. SG 78(p). Rare & attractive. (P) $150 $250

5371 1894 Pictorial 18c black & lilac colour trial PROOF with "Waterlow & Sons Ltd Specimen" opt in sheetlet of 9, ea with sm security punch. Superb UN as made. SG 78(p). Rare & attractive. (P) $450 $700