That's a strange one.
To me it looks like a color negative.
It could also be a transparency that has faded. (Most color film from the era up till the early 80's will do that. )
The question then is what it was for.
Topps did a lot of stuff that the place I worked never did.
I don't think it's part of the mask for making the plates, those would be only one color, and would have less space around the edges since the cards had to be close enough.
If I had to guess, it might be a proof made from the individual color separations so they could make a positive print to verify how it would actually look.
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