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NICE...That is a much better picture. I would guess it colored on purpose and the rest worn off. Somebody will come along and confirm or correct that. Moisture would have stained the blade first....

Welcome to SRP. The edge you speak of is called the spine. From what I can see in the pic that is a nice razor that needs to be cleaned up. If it is scalloped (can't see it that well) it is purely...