THIS IS AN ANTIQUE PIECE FROM THE 1950'S AND IS IN EXCEPTIONALLY GOOD CONDITION FOR AN ITEM OF THIS AGE, BUT AGE SHOULD BE CONSIDERED A FACTOR IN THE CONDITION. AS TO BE EXPECTED THERE ARE SMALL PIN HOLES WHERE THE ITEM HAD BEEN HANGING AT ONE TIME. SOME FADING, DISCOLORATION, STAINING AND WRINKLING OF THE LETTERING, EMBLEM, PENNANT AND TASSELS. ONE TASSEL IS RIPPED AS SHOWN IN PICTURES. PLEASE SEE ALL 12 PICTURES FOR CONDITION AND SPECIFICS.