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HWA couple of points
I agree that the N28 set was not issued until 1888. It is amazing that the 1887 date was used for so long. My eary Sports Collector Bibles list 1888 as the date for the N29 set, but does not list a date for the N28 set. Instead it just labels the N28 set as being the "first series" from which people probably assumed it was issued a year before the "second series" N29 set.
I remember seeing a picture of the Just So Cy Young in either SCD or the Trader Speaks. (If my mind is not failing me) I believe that it was discovered in the same group that included many of the other nice examples that are known today. I think that several of these were one of a kind (like the Young), but the find also included several players (Boyd, Childs, McKean?) that were already known. The examples of these players matched up perfectly with the known examples, which makes the chance of them being counterfeit very remote.
Also, if the Just So of Cy Young is in the collection that I think that it may be in, it will never come up for sale. Also, if I am right on my assumption of where the card is, its owner is much more knowledgable than any grader at either PSA or SGC.
Lstly, congratulations on the Reccius Wagner. It is an important card.