I personally would pay a premium for a T206 that I wanted for my collection that displayed a beautiful front with nice square corners but may have a flaw on the back such as slight glue residue etc from being mounted in a photo album. As long as the paper loss & residue is at a minimum it's all fine by me. The Johnson you show imo has to much paper loss though for my liking to warrant adding a premium to it. Pretty card none the less. Below is an example of a Johnson portrait I own which I did pay a premium for that may give you a better idea of at least what my criteria is for paying up. Card has a NM front but has a small paper tick in the 2nd "E" in the word Sweet, and a little disturbance in between the "A" and 'R" in the word cigarettes on the reverse. Hope this helps.
