A tough Semi Key date in this grade range, considered along with its 1925-S "paddock-mate" to be the worst made coins in the series. This is very well struck for the date and original, and scarce as such. It is my opinion that if submitted for certification, this would likely come back EF-40, based upon typical grading of the series. As I cannot absolutely guarantee that, sold on the basis of my cost, and you can make up your own mind about the matter. Either way, certainly suitable as a high grade circulated example for an album set.