I've never seen a sign like this before either. I'd never heard of Cwm either, but a quick search reveals it was on the Newport to Ebbw Vale line. This was originally part of a small operation called The Monmouthshire Railway and Canal Co.
It's possible that the sign dates back to those early days before it became part of the Great Western Railway in 1875. I doubt that the sign was a GWR addition to the station. If it was I'd assume signs of a similar design from other stations would be more commonly seen at auction, bearing in mind that the GWR was a far larger operation
One problem with this theory. If it was meant to be back lit, would there be a suitably bright light source to make it effective back in the day's before electric light
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I used to be a complete idiot, now, unfortunately, some parts are missing
KEN
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