This is an unfinished example known in the ring manufacturing trade as being made of raw gilding metal w/deep brass luster over brass metal. Unlike the finished rings issued in the 1930s w/enameling and silver color plating, this ring has an adjustable band, not a solid band, and there is no trademark of the maker Uncas on the interior surface. We believe this unfinished ring, probably used to proof the die, was produced as part of the process that resulted in the 1990s authorized limited edition reproduction of this ring. Ring is precisely detailed and one of only three known to us. We offer it to document its existence in the hobby and to make it available to collectors interested in variations of the classic premium ring design. Top half of ring has deep luster w/much less on lower bands but we believe essentially Mint as made. See previous item and The Shadow #1228.