Graded 60 EX 5 by SGC. Tough 1911 T205 Gold Borders Arlie Latham (W.A. Latham on back) variation. Of the 27 judged by the authenticator, this fragile gilt bordered sample survives as 1 of 5 at the grading level with only 2 better. The Sweet Caporal Cigarettes biographical reverse is problem-free.