I can't tell you the grade either; but all examples I've seen had the grade noted on the barrel lug, which this example does not have. I can tell you that the number of wreaths stamped on the barrel flats indicated barrel steel quality; the more wreaths stamped, the higher the gun grade. This example has 5 wreaths, and I believe recalling engraver Geoffry Gournet telling me that the highest quality Ideals had 7 wreaths. This is obviously a higher grade than my #4 with 3 wreaths; but I'm guessing not quite the highest grade.