Hake #4. 1.75” without back paper. This button with its exceptional design and color has only two very minor defects. The first is a shallow 1/16” dent on the reverse metal collet. The other is a short 1/8” hairline scratch just below the red bow accent on Miss Liberty’s dress at the left. This tiny mark shows in certain reflected light angles but under most circumstances does not reveal itself at all and the rest of the celluloid surface is remarkably free of even the smallest surface marks. The button is enhanced by perfect centering and very high gloss. The Hake 2004 guide value is $4,350 although we feel that may prove to be conservative. A very reasonable opening on a very rare and highly desirable button.