1.75” button-like celluloid mounted to a metal frame which squeezes open and closed to clip papers. Top of the metal frame includes the word “Spencerian.” Very tiny surface wear marks on the celluloid showing only in reflected light although the slightest hint of a dent and couple of near microscopic pinpoint rub dots on extreme upper edge at 11 o’clock. Celluloid still displays essentially Mint. Minor oxidation on the metal parts. See rare service award for this railroad #694.