If you could see both pennants up-close and touch/feel them, you would see the difference immediately. The aged vintage felt is different in make-up and texture, as compared to more modern felt.
The tassels are also different... usually the newer repros have tassels that are too thick/too big, in proportion to the body of the pennant.
Another key to look for is cracking/puckering of the painted graphics, which is a natural occurrence, and happens about 90% of the time.
I don't think Mitchell & Ness did the repros of these Negro League Pennants. Most of the M & N reproductions feature a crushed velvet type of graphics, as opposed to application of actual paint.
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