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Dave HornishTopps Vault gave this description in an auction awhile back:
"1974 Topps Action Emblem Cloth Stickers "Test Issue" Team Sticker! Mets. This lot comes right out of the legendary Topps Vault. Blank back sticker-stock card measures the standard 2 1/2" X 3 1/2" and overall, is in excellent condition. Topps released this test issue in several formats, cardboard, sticker and cloth stock. This auction features a sticker-stock example. Collectors, this is a great opportunity to obtain a terrific collectible for your Topps baseball card collection. All Topps Vault auction lots come with a certificate of authenticity. Please visit our other sports and pop culture eBay auctions for other exciting memorabilia from the Topps Vault."
Yet there are numerous examples of Cardboard Proof Sheets dated from January 1973. This issue gets stranger by the day. Topps says it's a '74 issue yet the proofs are from a year earlier. Did the cloth come out in '73, followed by a rewrap in '74 perhaps using sticker stock left over from something else? They must have had sticker stock up the the wazoo with the Wacky Packages going nuts.
Maybe the hybrid version was the transition and the glossies filled up the third and final issue. Or maybe they tested different varieties in different markets. It seems like it was tested both years though-the hybrid wrapper I spotted was a test issue with the sticker on white wax as I recall.