Posted By:
scott brockelmanthe top 2 cards would have only needed to be separated on one edge, while the lower pair would have 2 sided needing to be removed from the piece. leaving the round corner and all of the orginal edges. Look at the PSA 8 Waddell in the "handcut" thread. It is nothing more than a cut to size trimmed piece. At least in my eyes as I can plainly see what the original piece looked like.
Edited to add in response to Dan's post above. If you look very carefully at the entire piece above, I believe you will see some factory "fold" marks in the black area, to make folding up the piece a bit easier and this is where the cards were meant to be cut away from the piece. Now obviously the cut away edge might have a little variance according to the abilitys of the cutter, but the remaining sides should be fully intact in order to be graded as an original piece.
Scott