VG records have more obvious flaws than their counterparts in better shape. They lack most of the original gloss found on factory-fresh records. Groove wear is evident on sight, as are light scratches deep enough to feel with a fingernail. When played, a VG record has surface noise, and some scratches may be audible, especially in soft passages and during a song’s intro and ending. But the noise will not overpower the music otherwise.
Minor writing, tape or a sticker can detract from the label. Many collectors who have jukeboxes will use VG records in them and not think twice. They remain a fine listening experience, just not the same as if it were in better shape.
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Your details match the known original 1958 U.S. 78 rpm release:
Label: Challenge Records
Catalog number: 1016
Matrix numbers: CH‑146 (Train to Nowhere) and CH‑147 (Tequila)
Delta numbers: 20138 / 20139 (Monarch delta numbers)
Discogs confirms a 10-inch, 78 rpm shellac pressing of this exact release from 1958, listed as a Monarch pressing of Challenge 1016.
Because:
The record was released January 15, 1958,
78 rpm issues were already being phased out by mid‑1958,
The matrix and delta numbers match early Monarch production,
…it is very likely a first pressing, or at minimum an early pressing from the initial release period. There is no evidence of later 78 rpm repressings
The 78 rpm version is listed as:
Format: Shellac, 10", 78 RPM
So your copy is shellac, not vinyl or styrene.
Multiple sources confirm the release date:
Released: January 15, 1958
The recording session took place on December 23, 1957, and the single was issued just a few weeks later.