This rare 7/8” button is from the 1930s. The first 3 known examples were all purchased from the 1996 estate sale of Shadow author Walter Gibson. The buttons were discovered wrapped in a paper in his desk at the time of the sale. The original purchaser of the buttons sold one privately, consigned one to Hake’s which realized $2455 in 1998 and consigned the third for our first auction of 2007 where it realized just over $5,000 plus the premium. This is the 4th example known to us. On the right side edge between the words “Shadow” and “Club” there is a light tan mark on the very edge to a depth on the button's front of just 1/16” with a length along the rim edge about 3/16”. Over 95% of the button is unaffected and with virtually no wear and with a mirror-like gloss. No backpaper as issued. Rare.