1.25” button is tanned all over with a bit darker aging on the extreme rim edge. In addition, bottom curl is missing a celluloid sliver about 1/16” wide and 1” long which allows the celluloid surface to slightly elevate at the front lower left although hardly showing from the front view. Rim text reads “Philadelphia Welcomes National Negro Business League 1920.” Reverse has backpaper which appears to be by Shaw although some lettering is worn off. Overall just Good condition but still has full gloss and the only example we’ve seen of this rarity.