Illustrated below are the two varieties of the 1900 and 1901 1 Penny "Llandovery Falls" postage stamp. Originally issued in red the stamp was re-printed in 1901 in two colours of red and black. Both issues have some sub-varieties of paper, imperforate and watermark. The two examples shown here are both sub-varieties, the watermark normally (sideways) has the "CC" to the right of the crown (as seen from the back of the stamp) here the "CC" is to the left of the crown.
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