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If that grades at VG, I think it's worth a bit more than $200.
It won't grade VG. That opinion is a details grade based merely on "how many letters of LIBERTY are visible." I think it would net grade FA-2.
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I had an 1886 that looked liked that. I got $50 for it. Leave it alone and someone (or you) will use as a hole filler.
Sounds about right. This 1885 might get $100