Great Britain 1915 2s6d very deep brown "Seahorses", watermark inverted, SG405var.
A very fine unmounted mint, with full original gum, left hand marginal example of this scarce De La Rue shade/watermark variety combination.
Particularly scarce to find these variety combinations in a top condition grade example.
GB Specialised Catalogue No: N64(11)f.
SG Catalogue Value: £3,500.
