This 1.25" has a small flaw but remains gorgeous and sales for excellent examples have exceeded $1,500.00. On this button, at the lower right, a small piece of the celluloid covering is missing. The size of the missing piece is .5" long along the edge and going inward no more than 3/16". The area involved is at the bottom right point of the star. The paper which carries the design does not appear damaged although the area without the celluloid covering is just a little whiter in tone than the surrounding area. Reverse does not have a backpaper but we don't know if it ever did. The piece still displays VF. A rare Parker.