Malta stamps with the portrait of King Edward VII first appeared in 1903. King Edward VII actually ascended to the throne in 1901, but new designs with his portrait took time to develop and manufacture. Thus, the later issues of Queen Victoria remained in use during the early part of his reign.
Poor prince Albert Edward! Due to the length of his mother's reign, he was very near the end of his own life, by the time he ascended to the throne. As a result, there are not an awful lot of Malta stamps with his portrait. Even paper and production varieties, common for 19th and early 20th Century stamp manufacturing, are minimal for this reign.
The seven bi-colored definitive postage stamps for King Edward VII, shown above, were issued between 1903 and 1904. These stamps were typographed, perforated 14, and they were printed on paper with WMK 2 - the Crown and CA watermark.
1/2 P. (1903 - Scott #21) - Dark Green.
1 P. (1903 - Scott #22) - Carmine and Black.
2 P. (1903 - Scott #23) - Gray and Red Violet.
2 1/2 P. (1903 - Scott #24) - Ultramarine and Brown Violet.
3 P. (1903 - Scott #25) - Red Violet and Gray.
4 P. (1904 - Scott #26) - Brown and Black.
1 S. (1903 - Scott #27) - Violet and Gray.
The King Edward VII definitive stamps of 1903-1904 and the low-denomination pictorial definitive stamps of 1899-1901 were re-issued between 1904 and 1911. These re-issued stamps are printed on paper with WMK 3 - the Multiple Crown and CA watermark.
1 F. (1905 - Scott #28) - Red Brown.
1 F. (1910 - Scott #29) - Dark Brown.
1/2 P. (1904 - Scott #30) - Green.
1 P. (1905 - Scott #31) - Carmine and Black.
1 P. (1907 - Scott #32) - Carmine.
2 P. (1905 - Scott #33) - Gray and Red Violet.
2 P. (1911 - Scott #34) - Gray.
2 1/2 P. (1904 - Scott #35) - Ultramarine and Brown Violet.
2 1/2 P. (1911 - Scott #36) - Ultramarine.
4 P. (1906 - Scott #37) - Brown and Black.
4 P. (1905 - Scott #38) - Scarlet and Black on Yellow.
4 1/2 P. (1903 - Scott #42) - Black Brown.
4 1/2 P. (1911 - Scott #43) - Orange.
5 P. (1904 - Scott #44) - Red.
5 P. (1910 - Scott #45) - Olive Green.
1 S. (1904 - Scott #39) - Violet and Gray.
1 S. (1911 - Scott #40) - Black on Green.
5 S. (1910 - Scott #41) - Scarlet and Green on Yellow.
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