Lot 121 Morocco Agencies - British Currency SG#74 5/- Scarlet King George V and Britannia, 1934-1936 Overprinted Waterlow Re-Engraved Sea Horse High Value Issue, A VFNH Example

A VFNH example of the 5/- scarlet King George V and Britannia from the 1934-1936 Overprinted Waterlow Re-Engraved Sea Horse High Value Issue. Although not listed by Gibbons these issues will exist with the same range of shades that are found on the unoverprinted Great Britain stamps, as existing stocks of whichever printing was current would have been used for overprinting at the time the requesition was received by the printer from the Crown Agents.

Gibbons values this at 56 pounds = approximately $95.76, based on an assumed premium of 100% for NH, which is fairly standard for stamps of this period. Our estimate of the net value is $44.8. The stamp offered here grades 80 as follows:

Centering/Margins: 50/70

Paper Freshness: 5/5

Colour: 5/5

Impression: 5/5

Absence of Visible Paper Flaws: 5/5

Perforations: 10/10