Somehow a stain visible on front and back and fraying/discoloration on borders with even light paper loss on back upper right corner is considered NM? Maybe it's just me, but I see more of this stuff with PSA than the other graders.
Or maybe this really is NM and I'm nitpicking.
http://www.ebay.com/itm/1934-Goudey-...item4ae344abdc