I just saw this thread so I thought I would chime in. I think any grading company would have to hedge their response to the question of grading skinned Old Judges. I think the answer would probably depend on the degree of paper loss. If just the top layer of cardboard is missing they should have no problem slabbing it. However, as the card gets thinner from more paper loss the card gets more fragile. At some point the grader may decide that it is not worth the risk of further damaging the card during the grading and slabbing process and just sends it back unslabbed.
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