Lot
123 
Federated Malay States, 1928, "Malay Elephants", $25 green & orange, watermarked Multiple Script CA, top margin single, o.g., lightly hinged (internal gum wrinkle), well centered within wide margins, strong bright colors, Very Fine. Scott Nos. 76. SG Nos. 82 £1,800 ($2,910).
Realized: $1,250