Lot 48 Cook Islands SG#127/130, 1938-1940 King George VI Pictorial Issue and Surcharges Watermarked Single Star and NZ, Fine NH and VFNH Examples of the 1/- and 2/-, Plus the 3d on 1.5d Surcharge, SG Cat. 31.75 GBP = $54.61

Fine NH and VFNH examples of the 1/- and 2/- King George VI pictorial definitives from the 1938 issue, with single NZ and star watermark, plus the 1940 3d on 1.5d surcharge. There is very light gum disturbance on the surcharged stamp, but its value in relation to the other two stamps is minimal.
Gibbons cat for NH is 31.75 pounds, which translates to $54.61 CDN. Est. net is $15.