I believe it is S-39 as the die chip is on the obverse. The letter positions are not a perfect match, but there is some variation and error to be had with early coinage.
The letter R is of most concern to me. It appears the upright is just left of center of the dentil above when it should be just right of center. LIB and E look right. There is some speculation that there are two Marred Field obverses with the S-40 being different. But I can't tell on good examples. But there does seem to be something wacky with the Large Marr going from developed to less developed and the Little Marr coming and going rather than a simple progression. But those might be from striking differences. But the upright of both Rs appear to be in the same location. At this point. I'm leaning toward strike (double?) or PMD to explain the difference.
There are two sprawling Ribbon Reverses. N used on the S-39 and P used on the NC-2. Each have only one pairing. N, among other things, has the 1 and second 0 close to being directly over dentils and the middle 0 between dentils. P, has the 1 over a dentil and both 0s between dentils. Since the "crack" I was looking for was weak and not quite where it should be, I relied on the second 0 being over a dentil. It's either the S-39 or a new pairing with a new marred field obverse die. I'm nor willing to go that far with weakness at the upright of R where the obverse doesn't quite look right. But is a new one is found that confirms a new Obverse, then this could support such a claim. Having two or three obverses that match that closely and with marred fields seems unlikely.
What is your opinion on value? PCGS says F-15 is $30000 but a VF-25 sold for $32900 and a VF-30 sold for only $16500 three years later. I've never been able to buy Liberty Caps. Too hard on the wallet, but when the time comes, I'll make sure to buy a good variety.
Honestly, with the corrosion and uneven wear, I would expect no better than G6 details and a net AG3. But I could see lower. The two lowest prices I've seen are $660 last year and $1440 last month for AG details. A VG8 tooled Details sold for $2040 earlier this year. The first two are also basically dateless so I'm thinking in the $1500 range. But his is about to fall from R6 to almost R5+ with the discovery of several low grade specimens the last few years. Almost all the specimens of this variety have significant reductions from the details grade to the net grade.
S-293 Obverse 2 is usually identified by the closeness of the star right of 3. It's easier for me to look at the top of the 1 and see a gap to the top of 3 because the second 1 is not rotated clockwise as on S-292. Reverse B has the point of the leaf well past the right edge of (E)S. It may be die states 2cBc with worn dies causing the peripheral detail to pull toward the rims or it could just be plain wear.
No wonder I couldn't see a difference. The S-38 obverse is the odd ball, not the S-40. See commentary:https://coins.ha.com/itm/large-cent...0-2041.s?ic4=ListView-ShortDescription-071515
S-292, and the rotation of the second 1 I thought I saw earlier must have been an illusion. There is no evidence on other Comps. I also thought for a bit that the second star from the bottom on the left was pointing at the dentil from Noyes, but it must have been an illusion from the rotation of the photos. Close ups from Heritage Auctions indicate the it is between dentils as yours is. The Reverse is clearly A from the leaf at (E)S at the right side and not far to the right.