Has a crease & slight tear at bottom & no writing on back. This COMPANY version is the one with the perforated edges & were a send in offer directly to Post Company, & much harder to find than regular box version cards. Grading is too subjective to give grades on my Post Cereal cards & as you can see most of my Post Cereal cards are cut very nicely. Many thanks for looking at my auction item! (The number in parenthesis at the end of the title is the date of my listing).