Yes, looks like NH1 to me.
I find these near impossible to distinguish with the Charleton's suggestion about looking at the laurel leaves going into the legend or not. This is false information from what I can gather.
The lips are the best marker I have seen. You only have to look back and forth at the pages showing NH1 and NH2 in the Charleton about a hundred times (every time you try) to decipher which is which! The difference is so subtle its hard to distinguish on most of the existing 1898 50 NL coins. The one above is still in good enough grade to see the difference.
The NH1 Small W is apparently extremely rare in any condition.