Single watermark. Unmounted mint.
At top left is VII/31, ACSC-listed 77(4)f “wattle line”. Beside it is VII/32, 77(4)g “nick near top of left frame.” Bottom left is VII/37, 77(4)h “flaw under neck."
If planning to buy more than one item from me, please use “Add to Cart” not “Buy it Now” or you won’t be able to combine postage.