I have finally been able to answer the riddle of the so-called 1E5 watermark I thought I had found on the 25c: it is the 1L6 also found for the 2 pesos! Here is a comparison of this watermark with the 1E2 and 1E4 watermarks. I also show the 1E2 transverse, a rare stamp. Because of how the watermark cylinders were constructed, the 1E2 transverse, or 1E2t, is really a separate watermark.
![](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_sROLOebq0LET20zsZYNmEgxJAQ812gZCCZ4QDdi2yRriIT66tUa80aQkGmY_lKZZoRi1Z4RutOSgmt-Olb2wyRjZoG9RcJNzZcvbY8nzish_LO3R2tAjT_JPjkLr3_tUAzfEIT1lv72gWBSOiMtoW2YW1YV1VxUQwBnzx2YKX-CqtZZA=s0-d)
1E2
![](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_vWwn4jtBZHE72xaOSmY29I4bMeDbMD_eQLXXBeNzgYHYYpo0qf-vt-yvszzq-95z2y_HrYaXyxagAKzAXALGAhxoRQQZ2XPSk3S9Z1GSfHFheOhplfruhkLtpz_VRWl7RhU6awLnV1gVQadSlFklo0dGjcvbtFRHpIojDw=s0-d)
1E2t (rare)
![](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_tO_9PUQc166aTE31-5N8_yiybNOgwinwYeLQY9hxY5kpQ5L_6zmmq_7_d0Aw-cqGVM6fpyClXgb5P5gt-q6mxyzKCq54F0J_Zpi-pscHI6phvuLZKt2Q0lZOgD_5tUHm6W31RtD2Bw8bCt55c_9zMMNyJ6RHOFll0hZMuomw=s0-d)
1E4
![](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_u4eAiLFPreEH-dEV_jvrmdhYZiEYq9S6_EepBgJAlhHPc2Rq_xj772MbT47tfTuQ9mv92DQPk2EKwYIpGr0o5F9-R98932TCaoIy_8juawSAqpojlv8zFrw7GlLqTs6-yl3ETHoGERVwp_ojcGUfcAAnWitdv8Kuvp9w=s0-d)
1L6