Australia KGV 1923, 2d Red, Single Watermark, Variety 15L37, Second State, (linear flaw above last A of AUSTRALIA, small notch in bottom frame 1.5mm from bottom right corner, CRACKED ELECTRO in Right Value Shield through base of 2 to right border of shield) in Fine Used condition with a couple of blunted perforations at left. Off-Centre to the left and slightly low with a Circular Datestamp cancellation (SA, 1923) well clear of the first indicator and partly obscuring the second indicator. The third indictator, which defines the Second State, is expressed here as a small developing flaw at the right of the tail of the 2 in the Right Value Shield, suggesting htis is an early expression of the developing crack.
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