Library Edition Hobbit - 1938, 4th State

I just wanted to post a few pictures and get a little feedback from the forum regarding a recent acquisition of mine. Many of you likely saw this come up on ebay. It was poorly described and poorly photographed, and went without bids until the very end. I decided to go ahead and check it out since the seller actually lived down the street from my workplace, and thus I could actually see the book before I bought. The seller was a kid in his early 20's who had inherited a box of books from his great uncle, which included this Hobbit. I'm not entirely sure about its value, or if it was a good investment, but it was interesting and unusual enough that I decided to get it (if for no other reason than to share and document it here).

So, has anyone ever seen an early library binding done in this fashion? I thought it an interesting choice to use the "Hobbit with shoes" as the cover art. Overall, it's in pretty decent shape for a library edition. There are areas of foxing here and there, but no tears or major problems. The maps are not pasted down and are in great shape. Unfortunately, it does have a library stamp on the title page (which I think is the biggest negative mark against its value). Anyway, here it is. Let me know what you think!

(P.S. The images aren't the greatest. I tried to shrink them down for upload and lost a lot of clarity.)