I respect your numismatic knowledge VKurtB, but in this case I believe this is a genuine 1 in Neck Snow-1 Variety. It is only the tip of the 1 that shows, the bottom "serif" is a bead on the necklace so you can't compare length as there is nothing to compare it to. Also a Snow-1 Variety is recognised by PCGS who have stated the following on their website,
I have also posted the following comparison picture showing the OP coin and a Genuine1 in Neck. Except for the amount of wear, they look the same to me..