This 1.75" jugate from 1908 is one of the most desirable buttons in the political hobby. This example has 3 defects. The most noticeable thing is that the narrow red rim edge has lost some of its color intensity from about 5 o'clock at the lower right to about 1 o'clock at the upper right. Also, just barely showing in reflected light is a very shallow 1/8" hairline break in the cello surface just above Sherman's forehead at left. This shows only in certain angles of reflected light and there is no stain in this area or anywhere else on the face of the button. The piece does not have any backpaper. On the positive side, the coloration of the center illustration is extremely bright and fresh and the entire front has nice all over gloss. Centering is perfect. The Hake 2004 Revised Price value on this jugate is $4,500.00. We think our opening bid more than accounts for the condition.