1.25". Reverse has Bastian paper first used 1907, although small loss on the left edge due to insects. About 95% of the text remains. Front shows close up Santa holding a wrapped gift in his red mitten. In reflected light there are numerous but very tiny and exceedingly light surface scratches. While there are many of these their visual impact is very minimal. Button displays Mint with normal viewing. About our third in five decades and our last exceeded $300.00.