Yes Roger, you are correct. But it might be nice to say why it's a PP2 - lots of folk will not know about the Size ratings of Perthshire Paperweights paperweights.
So, for anyone who wants to know, according the book "The Complete Guide to Perthshire Paperweights" ...
Small = 2 inch dia. or less
Medium = 2.5 inch dia.
Large = 3 inch dia.
Magnum = greater than 3.5 inch dia.
(I guess that intermediate sizes, if there are any, take the rating of the next lower size.)
Since the PP1 was a Large size and PP2 was Medium, this weight, at 2.5 inch dia., is a PP2.