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davidcyclebackIn physically altering a card (as opposed to digitally altering with a graphics program), if a baseball card from 1909 or 1950 has a background area overlapping in two colors of ink:
1) One cannot remove one printer's ink in the area while leaving the other ink unaffected. The two inks are dissolved by the same substance, and if the substance dissolves one ink it will dissolve the other. The liquid used to dissolve lithographic ink is nasty stuff. Telling it to dissolve one color but not the other is like tossing a ham and bologna sandwich into a lion's den and telling the lions to only eat the bologna.
2) Even if it could be done, I have no idea why someone would want to remove the yellow from Jim's card, while leaving the olive. Even if the person was trying to make a forgery, it makes no sense to go to what would be the great technical effort of removing just the yellow ink from the background for a potential buyer who wouldn't care or likely even notice that the background is olive instead of green. It's like a single person eating a motorcycle in 24 hours (and living). I don't believe it could be done and, even if it could, I don't what would possess someone to take his Thursday off to eat a motorcycle.
If you're talking about making a modern digitally altered reprint, that would be a different story. Even Topps came out with a blue T206 Honus Wagner.