If it is a high dollar card that has been reprinted/counterfeited (33 Goudey Ruth for instance) probably graded.
If it is a more common low dollar card (33 Goudey Ernie Orsatti) probably raw.
2 things about grading
1 - It makes it a lot easier to sell cards on Ebay without the buyer worrying nearly as much about the authenticity.
2 - Grading has become a "Crutch" to use so people don't have to actually know or learn the difference between a real one and a reprint.
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