[perezfan]

Good questions and observations, Hank!

Looking at the first picture of the full pennant, I can definitely see some puckering and cracking of the scroll portion. I am not sure about the "rubberized" graphics theory, as a result. Plus, all of his other pennants for sale are authentic. I know there are reproductions of this pennant, but think this one is authentic with a replaced spine.

I have seen countless pennants where the body of the pennant is perfect, but the spine has multiple moth nips and holes. For some reason, the bugs seemed to favor the spine portion for their "meal".

To me, it makes the most sense that this pennant was nicely stored away for most of its life (which would explain the lack of wear), but that moths got to the spine. I think someone replaced the spine at some point, and the "seamstress" simply didn't properly replicate the original style of stitching.