[Leon]

IF I were grading the card I would not grade it above vg.....on a good day maybe vg-ex, but most likely vg. That back does look all washed out. I still remember, a year or so ago, I called a major auction house that had around 25-40 of the Frederick Foto cards in auction, all in PSA 2 holders.....except the cards didn't have borders. The guy at the auction house told me he thought they were all trimmed, as I did too.
That doesn't look like regular ole wear on the back, to me. If it was then there would be some creasing or wrinkles.