Bumping this topic. I just picked up a Scott 39 (SG 83), the Plate 3 version ... small letters in corner. The watermark variety is described as Emblems, with normally one printed in each corner. Mine has no known added value, but I thought I would show it as best I could. The preface in my SG catalog says, "Fortuitous absence of watermark from a single stamp, or its gross displacement, would not normally be listed."
Here is the normal Emblem watermark.

I could not get it to scan correctly, so I took the above image and cut/paste so that it shows how mine actually appears. The watermark was grossly displaced such that all of the emblems are in the bottom half of the stamp.

Here is the actual stamp. Enjoy!
