This second set of the “Straw Hat” official issues came into use in 1929.
MiNr. 123 is found with vertical or horizontal waffle watermarks, while MiNr. 124 is found only with a vertical waffle watermark.
The 1929 Straw Hat Issues are similar in appearance to the 1927/1928, 1930, 1931/1932, and 1933 versions.