Hake #3. Small loss of white paint from the metal back which has a bar pin. Front of the piece is lightly tanned all over but only a few actual dots of darker stain on extreme right edge. However there is a lamination issue. Left side has pair of air streaks going inward about 1.5" and right side has vertical air streak about 2" long coming down across Truman's ear. In addition the celluloid in this area is very slightly raised but not broken. Still has full color and high gloss. The Hake 2004 guide value is $375.00. This opens much lower.