Shermack, Help To ID ?

I came across this one and thought I would ask for help with an ID and your opinions!

Is the watermark single-line or double-line? Either way, this stamp is fairly common, either Scott #344 or #384 with Schermack perforations; and this particular copy has a lot of damage in the UR corner, so value would be minimal. The variety to look out for is the position having the evidence of a transfer of the One Cent Franklin.

I often wonder if it's possible that a #485, the five cent carmine error, will ever show up as a Schermack coil. Only 50 sheets of stamps, each having 3 errors, were found at the P.O. IIRC; could any have been shipped to Mailometer prior to the discovery? Another question - if the imperforate 5-cent error was never discovered, and the 50 sheets went to Mailometer to be coiled instead, what would the chances be that any survived?

Schermack Type III to be exact.

Thank you both very much for your help.

I will keep my eyes open for those error stamps!