North Borneo

Covers and stamps / North Borneo / Elephant / Specimens / Waterlow & Sons

North Borneo 1909 Waterlow & Sons Ltd perforated proof for the 5c. elephant value in unissued colours, a sheetlet of 9 with each stamp overprinted with small punch hole. One of the two sheets found in the Waterlow stock of line perforated with imperf horizontally between stamps. The central stamp also shows extra shading below elephant’s head. Very fine unused without gum.

1909 Waterlow & Sons Ltd perforated proof for the 5c. elephant value in unissued colours, a sheetlet of 9 with each stamp overprinted with small punch hole. One of the two sheets found in the Waterlow stock of line perforated with imperf horizontally between stamps. The central stamp also shows extra shading below elephant’s head. Very fine unused without gum.

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