Yeah, it's a trade card. As others have stated, the blank panel was for a merchant's name to be printed in, but it's common to find such cards without anything in the panel. The back is just the other side of the scrapbook page this card was originally in, and should soak off easily. Somebody obviously cut this out of the scrapbook page, not knowing that they could soak it. It doesn't look like any of the card is missing, unless maybe a sliver of the edge accidentally got cut off.
Normally small trade cards like this would only be worth a few bucks (maybe $3-$5), but the baseball theme means you could probably get a little more for this one.
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