(read how to identify your stamp below)
This is the 11¢ Hayes from the years 1922-31.
The first variety (#563) was issued in 1922 and has a perforation guage of 11 all the way around. This stamp can be found by clicking here. The second variety (#692) was issued in 1931 and has a perforation guage 11 at the sides and perf guage 10½ on the top and bottom. This stamp can be found by clicking here.
If you do not possess a stamp guage and are lucky to have another stamp from this same series there is another method of indentifing the number of perforations on each side. If you lay one stamp face up in front of you, on a flat surface, place the other stamp's left side next to your stamps bottom side to see if it has an exact match up of the perforations all the way down the side of that stamp. If by pointing the tips of the perforations, of each stamp, together they will touch all the way down, the perforations on that side of the stamp are perforation guage 11. If, however, the perforations do not match identically and there is a slight mismatch, then that side is a perforation 10 1/2.
To determine the difference the two varieties of the 11¢ Hayes one needs to look at the perforations. You will need a copy of the very common 1932 3¢ Washington (#720). A picture of which is shown below. Follow the instructions below