I think I got very lucky with this. For once in my life I decided I wasn't going to lose an eBay bid on something I really wanted. I still managed to get it for about $125 less than one in worse condition sold for not long ago.
This one is the nicest I've seen; has the least amount of damage I've seen and is the only one that has the frog to go with it. I don't regret my decision to go for it but the wife thinks I got it for a lot less than I did and I'm OK with that.
If you're really interested, one of the US made ones with the bakelite handles is here: US Model 1941 Naval Cutlass | eBay