Alright, so I had some extra time today so I busted out the good camera and took some more pictures of my 1871 Indian.... What are your thoughts? I thought it was a Bold N but after I seen an ebay listing with a shallow N that didn't look shallow, got me thinking if mine could be... What do you think the grade would be?
That would be a bold N you own. The "N" in ONE will be in very low relief on the bottom right side. It's very noticeable.
Here's a reference for what the shallow N would look like. Again, view your attention to the bottom right.
I'd say this is borderline AU/MS, but I'd feel an AU grade is where it would land. I'm thinking the discolorations around the rim would earn it a details rating as well. Based on Kookoox's pic, I'd agree with bold N.
If I had to guess, given location and pattern, I'd say natural verdigris-style buildup from moist climate or other environmental factor.