AUSTRALIA / TASMANIA
1902 1d red Mt. Wellington Pictorial, perf. 12½, V crown watermark, with the variety ‘Volcano flaw’ [sheet position = 1/1] in four progressive states, used – no thins, tears or bends.
The late states with the extensive deterioration of the retouch are quite rare.
BW(ACSC) Cat. # T10da
SG Cat. # 240