It should have a "2" as a watermark even though it is a 1d. The colors represent the values. Orange paid 1/2d, blue paid 1d and carmine paid 2d. The 1d and the 2d were watermarked with their intended values (i.e., a "1" watermark and a "2" watermark); however, the islands' postal administrators changed things up and issued the "2" watermarked blue stamp as a 1d, and vice versa. Check that and you will know.
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