Nelson in (historically inaccurate, should be blue) naval uniform with Lady Hamilton in a garden; ships of the line.  1920s (white background) 1930s (cream background).  A rare version has Nelson in a yellow coat.

This explanation from Stacey about the differences in colour in Nelson's coat:
"Nelson often gets mistaken for Napoleon where most of this collection was advertised as. The yellow jacket came about from the production line. When they realised his jacket should have been Navy and not red (Napoleon) they stopped production immediately. This caused the paint production to stop when they where through he glazing of colour as yellow to get to red that's how they got the yellow 'rare' jacket"