Raimey--Thanks for your comments. Bob and I were discussing my Grade 40 16ga on another forum. I was comparing mine to the 3 Grade 45's currently on Steve Barnett's list. Then I was reviewing what Jeff Stephens wrote in part IV of his series on Sauers ("A Primer on the Scalloped Boxlocks"), Double Gun Journal, Summer 2004. Stephens indicated that the Daly catalog said the 45's had gold inlays, but he then states there are known examples without the inlays. Stephens also includes a photo of a 45 without inlays but with wedges of engraving on the barrels, which he states "will be found on the North American export Grade 45" (and shows clearly in his photo). However, none of the 45's on Barnett's list have either gold inlays or the engraving on the barrels. Nor dp they have the special Krupp steel barrels. I read the same thing about the steel (Fluid Steel, Krupp-Essen) that I find on my Grade 40. In fact, other than minor differences in engraving, I can't spot any significant differences between Barnett's 45's (especially the 20 and the first of the 2 12's he shows) and my 40.
Stephens also writes that in Grade 40 he knows of only 2 16's and 3 20's. I have no idea how many others are out there. Maybe I really do own one of only 2 16's!
