Quote:
Have you heard of this happening on South American stamps before?
I have not heard anything like double watermark in these Argentine stamps.
The so-called Dandy Roll is a cylinder with the watermark design made of thin metal wires affixed to the cylinder :

The still wet reel of paper goes under the Dandy Roll which then imprint by pressure on the paper the watermark design :

There are 4 main kinds of paper with watermark for your stamp (1c. Sarmiento) :
1) Imported uncoated paper. Wmk.90. RA always vertical. Litho.
Printed in 1935, 1939, 1941 and 1945.
2) Imported uncoated paper. Wmk.288 (straight rays). RA always horizontal. Litho
Printed in 1948
3) Imported coated (chalky) paper. Wmk.90. RA always vertical. Typogr.
Printed in 1939, 1941 and 1952
4) National uncoated paper. Wmk.90. Litho
Printed : 1953 (RA horizontal) and 1957 (RA vertical)
Here's the Wtm.288 (straight rays), horizontal RA:
With red arrows I show what appear to be other circle (Sun), but don't have RA
Here's Wtm.90, with vertical RA. The blue circles show what appear to be circles of watermark, but aren't. They are the spaces between the SUN+RA :

Your stamp :

The watermark : RA horizontal. I think it is Wtm.288
And the watermark is right (not double) because don't have new RA.
I think the new circles are the spaces between SUN+RA
