Trimmed
That's interesting to think about this topic and to realize that some collectors are ok with owning a trimmed card. I guess on one level I can understand that if it has eye appeal then so be it...but it's not for me.
That said, couldn't you say the same thing about a really good reprint and therefore buy those for the fraction of the price of the real thing? So I would rather own the original than an altered or reprint version of it. Just my opinion, people can like what they like.
(Note: My opinion is a bit different too with pre-war stuff when people altered cards so they can put them in their scrapbook, etc.--so the motive of the alteration is a small factor for me)
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