1854 1c Penny Red Mis Perf (British-Queen Victoria)

Hi There

I am hoping one of you can assist in giving me your input on this stamp. I can't seem to find anything that looks like ours (mis-perf). The stamp also appears to have a watermark, but I can't be certain, however when I hold it up to a light there appears to be a distinctive outline - any thoughts would be deepely appreciated!

I believe this ones is our type

http://imagesoftheworld.org/stamps/sg21a.htm

Here are pics of ours

I'm not a "penny red" expert, but here are some possibilities...
Check the perforation- 14 or 16? Looks like a 16 perf to me.
Is the paper bluish or white? Could be bluish.
You are right in that it would have a watermark. Small crown would be wmk 18. Large crown would be wmk 20.
If the perf is 16, the paper is bluish, and the wmk is small crown, then "could" be 1854-55 Scott 8 1p red brown. ( best guess)
There are 5 or so other possibilities if the above conditions do not hold.
Jim Jackson

Thanks for the information. Does anyone know if it's valuable due to this error? I am still researching it online and not having much luck.

Generally poor centering reduces the value of a stamp. If the perfs were running down the centre of the image, then you might have something, but this is just an unfortunate shift.
I do think it's interesting though that the image is not lined up with the top of the stamp next to it. Having worked as a production artist, especially working back in pre-computer days, I can tell you that that's just plain sloppy.