"Trading Card" means the card has not been evaluated by PSA for authenticity. So it could be a 1952 Bowman or it could be a reprint/counterfeit. You can resubmit to PSA under the Dual Service (card and auto) and they will evaluate the card and grade the card and the auto if you pay them to.
So if you see a 1963 Topps Pete Rose in one of these flips that says Trading Card, you should be very leery that it's a real card. For a tattered 1952 Bowman semi-star, it's probably real. Not sure if you can add it to a player auto set registry, but to add to the 1952 Bowman autographed card set registry, you'll need to resubmit to PSA.
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PWCC: The Fish Stinks From the Head
PSA: Regularly Get Cheated
BGS: Can't detect trimming on modern
SGC: Closed auto authentication business
JSA: Approved same T206 Autos before SGC
Oh, what a difference a year makes.
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