Per the Michel catalog there are sheets of stamps where the watermark is faint or not visible at all. This is due to excessive wear of the dandy roll (device that impresses the watermark into the wet paper mass). Does not affect the catalog value. However, in my opinion, it is collectable.
Thank you. By the way, I have been thinking of reducing my world collection to just collecting Germania. My kids want nothing to do with stamps, the cowards!
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