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MarkJames... Yes, it is of the time period and was produced during Cobb's playing days. Yours is a very nice example, and appears to be in far better condition than most. As John Harrell stated above, there was a recent "find" in which many of these bats were uncovered (most of which were in deplorable condition). These bats should be rare, but really are not, with even nice examples like yours turning up rather frequently.
Still, a very nice piece and a nifty artifact from Cobb's playing days! Sorry to go off on the Memory Lane tangent... I just found the timing to be pertinent to this thread, and also was amazed at how drastically they miscalculated the rarity/value of this piece. Hope this info helps!