£280
KGV Profile Heads M/UM/o.g. study of the Simple Cypher 4d & 5d issues. 4d incl range shades identified by the collector, and also seln varieties incl 'watermark reversed' UM, 'Break above O of FOUR' UM, 'cracked plate' M (example with variety is part of a block of 4), 5d also with range of shades, plus horizontal pair displaying variety 'watermark inverted and reversed', M, though with sharp horizontal crease. (L)
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