It's obvious it's a dug bottle and the iron could be just dissolved.
It looks a bit off center so could you macro nice and square in on the base?
Also, whats the embossing, I can't read it.
If it's IP it's worth between $4-6000 according to Matt's book....and since there's only an IP listed by Matt I'm assuming this is one of them, very rare!![]
I doubt they would grind an IP med so it's either smooth base or the IP is just worn. To me it doesn't matter but to collectors they want to see it. I'd lean toward the missing or it just missed the need for a pontil on that one. Same time frame either way.
Its date and location are prime for iron pontil use but the snap case was also used at that time.
If there is no iron residue, pontil depression, or other evidence of empontilling, then I would call it smooth base.
Still a great bottle in my mind.