1905 Yacht Issue Watermarked Proofs
In approximately 1905, proof printings of the 1900/1901 Yacht Issues were printed on paper with a lozenge watermark. The watermarked proofs vary slightly from the subsequent 1914/1918 Yacht Issues on the same paper. All differ slightly in color. The 3 Pfennig proof has normal gum as opposed to the later glossy gum. The 5 Pfennig, 10 Pfennig, and 5 Mark proofs feature the three-word ‘DEUTSCH-NEU-GUINEA’, as opposed to the later two-word ‘DEUTSCH-NEUGUINEA’.