2.25x7" glued long ago to thin tan paper. This is Sullivan & Fischer AL-24, which they note as similar to Douglas SD-9. Full text is: "The/Rail Splitter/Of/1830./The President, U.S./1861." Color tones vary due to both old glue and show through of the tan backing paper. Top to bottom condition issues are: tiny bit of selvage off top edge, slight crease and .5" hairline horizontal split below "Rail" but barely shows. At center across his shoulder is another crease with hairline 1" split and .5" below that another .5" split. Short tan hairlines show in these two areas. Below another 1" hairline split left of 1861 date and below date a full near hairline split. All splits lay flat due to the mounting. The reverse paper has 3 archival tape repairs where the paper had a small piece missing at top and small split and wear dot at the midpoint. Ribbon edges curve slightly to the left as mounted. Very little backing paper shows. A quite rare ribbon for which we can find no previous auction offerings. A modest opening bid to reflect the condition, but not the rarity. Don & Mildred Wright Collection.