If you want keep its resale value, don't trim it. If you want a nice display piece and were never planning on selling it anyways, then by all means trim it and frame it. I am not a purist and don't believe in keeping things intact if I can enjoy the, another more another way. Keeping something in a box or a drawer when it would better trimmed, framed and on my wall is a no brainier for me. That said, I would leave the entire top section intact like in pic two. Pic 3 looks weird, plus the ad gives it some nice historical context. When framing it, consider having the paper itself de-acidified. It will prevent any further discoloration.
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Items for sale or trade here UPDATED 3-16-18
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