As with most examples of this 1" celluloid, the cream background has areas of darkening but much less in quantity and not as dark as on most of the eight or so we've seen. Importantly, after exposure to light this one glows with a deep intensity, superior to most, and clearly shows at its center the black silhouetted Shadow in hat and cape with his gun leveled. The button was issued in 1939 and came with a membership card titled "The Secret Pledge Of The Shadow." The card pledge was to: "Stamp Out The Forces Of Evil In This Land. I Shall Recognize Other Members Of The SHADOW SOCIETY By This Card And By The Magic Button Which Only Member's May Possess." Although not marked as such, we believe this was a blue coal premium. Our last similar condition example realized over $600.00.