Exceedingly scarce pin from the 1896-97 Whitehead & Hoag set, commonly known as "Cameo Pepsin" due to the advertisement sometimes present on the reverse of the pins (though the pins are often found with or without Cameo Pepsin advertising). The first large set of pins to feature baseball players, more than 140 subjects are known and more are added to the checklist as they are discovered. Typically subject to image fading and other condition flaws due to age, the pins are quite condition sensitive today. 

Manager of the 1887 champion Detroit Wolverines, by 1896 Bill Watkins was managing the Indianapolis Hoosiers of the Western League, and is inexplicably included in the Whitehead & Hoag pinback issue.  The image does exhibit some fading, though the wear seems inconsistent with the VG 3 grade assigned by PSA.  Some very light surface wear is evident, the primary condition flaw appears to be a miscut Whitehead & Hoag ad on the reverse.