Ron, I've often wondered about these Trams--specifically, why on many of these it looks like the lion on the rev has a big hole in the center of his body. On yours, you can see that it isn't a perfect circle, but rather has at least a partly scalloped or crenulated edge (see below).
Any thoughts on whether this is a countermark of some sort or just part of the design?

"If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz