Although we don't use the grade EF-48, it sure seems appropriate here. A few trivial hairlines and abrasions with mostly light silver surfaces and faint traces of iridescent toning at the borders. This is an attractive example and among the top quality coins of this variety. Only a handful of finer specimens are known, and this appears to be near the top of the list for late die state coins. A rare die marriage, this variety was recently lowered from Rarity-5 to R-4+, however, the late die state remains R-5.

This is seventh finest among those coins reported to Russ Logan for the JRCS Census. Don Parsley lists five examples ranging from MS-63 to AU-55. Steve Herrman notes one MS-63, four AU-50, and three EF-45 for the prime die state, along with a single EF-45 example for the O-116a die state.

The obverse has a light die crack through the upper two points of star 2 to Liberty's neck. Perfect reverse.