For decades, we knew of only one example of this 1.25" c. 1900-1912. We offered that in Auction #188 and with the premium, it realized over $2,300. This example has very light surface wear largely just visible under magnification. The only exception is on the extreme bottom edge of the button where, at the left, there is a 1/16" circle where the brown color is a little lighter than the rest and beneath the word "Smokeless" there is the very slightest loss of a little sepia color but barely noticeable at all. Reverse has the W&H paper although it is tanned and with 5 darker spots around its outer perimeter. Overall we would grade this extremely Fine although for practical purposes it really still displays a solid N. Mint with perfect centering and high gloss. Like the Colt button #506, this is one rarely offered.