This beautiful Division I glass button may have been accepted as a “lacy” in competitions of the past.
However, the “fine stippling,” a signature surface design characteristic of a “lacy,” is nowhere to be found on this button, which means that it is not a lacy button. It has low relief flowing Art Nouveau design, so it is a “Victorian” (in terms of its design characteristics.)
Note it is a “large” by NBS official button measure.
The above is based on the National Button Society's Classification System.
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