I too had a bunch of these as a kid, practically plastered my whole bedroom walls with them.
My guess is that the borderless ones are trimmed to remove the pin holes, tape marks, etc.
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Working Sets:
Baseball-
T206 SLers - Virginia League (-2)
1952 Topps - low numbers (-1)
1954 Bowman (-5)
1964 Topps Giants auto'd (-2)
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