£500
KGV Profile Heads mint study of the 2½d wmk Simple Cypher value, broad range of shades noting 3 with RPS certs incl Royal blue, M (RPS cert 1981), and Dull Prussian blue, bottom marginal M (though with hinge remnant, and previously folded along margin perfs) (RPS cert 1976), also seln wmk varieties incl 'Watermark inverted' UM. (See photos) (L)
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