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T206Collector...sold it, so you can't resubmit to PSA for another try; or, better yet, give the people at SGC a look. If you really like the card, and can't find the alteration, those are better avenues before dumping it back on ebay.
While I'm sure you won't always go wrong, it is a mistake to buy a raw T206 card on ebay that is advertised as anything higher than VG condition. Since it only costs $10 to have such a card graded to improve its value exponentially, there is a lot of ungradeable raw crap floating around. I would save my mid-to-high grade raw purchases for the B/S/T thread or a dealer you know deals in raw gradeable material.
In any event, I would guess the bottom edge was trimmed, but it is a nice job. The best way to tell would be to hold the card perpendicular to you, so that you are looking at the edges only, compare all four edges for even wear and color, and also look at how the paper on both sides should be slightly beviled as it meets the edge -- a trimmed card is squared off where the paper meets the edge.