The embossing on this is like [040] R.D.MERSHON, but... how many ridges does it have?

The Price Guide lists one or three ridges... I count two.. Am I counting wrong? Is a Price Guide entry wrong? Is this unlisted?

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UPDATE: The price guide lists the number of ridges per side. Thus this is the {One ridge} "per side" variant (two total ridges). Just depends on how you count I guess... ;-) Thanks everyone.