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Why?

Tthere are several very nice shave ready razors in the Buy, Sell and Trade.

Here are a few that are very nice from $25 – 40. There are a whole bunch of super nice ones in the $75-100.
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Yup, looks like slate, probably a pretty good one, if marketed as a fine razor hone.

The paddle looks home-made. Likely it is what saved the label.

Seal the sides and bottom with any good water...