I think Bob is correct, the later Exhibit card has been altered. I am pretty sure Topps licensed the photos in the Red and Blue Back and regular '52 sets from another company in 1951 and into 1952 but am not certain they did so with the highs and semi-highs. They eventually acquired the company that owned the photos (it was not Players Enterprises, which consisted of Topps directors and employees) so they either licensed some photography later on to ESCO or the rights were owned by the photographer. Either way is possible I think. I wonder if other Exhibits use photos from Topps cards?
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