George,
The paper is backlit and you view it from the front.
Michel: Die Papierstreifung wird, im Gegensatz zum Wz., von der Bildseite gegen das Licht gehalten gesehen.
Michel in English: The paper stripes are seen from the image side of the stamp toward the light (in contrast to a watermark).
You have a nice stamp with a lot of selvedge to see the marking. It's a pain on some issues.
Dan
