Great Britain 1921 1d Die Proof variety, SG357var.
A fine stage 5 uncleared example printed in red on white gummed multiple cypher watermarked paper (watermark inverted), numbered "275" at top.
Offered with original Royal Mint envelope endorsed "Water Marked Paper".
A unique King George V specialised philatelic piece.
Stanley Gibbons catalogue value: £8,500.
Stage 5 shows white lines all round, crossed at the corners and stepped at left opposite the King's nose.
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