Leaf printed several large, paper-thin premiums of baseball legends for their 1949 baseball set, often placing them in the bottom of a box of packs. They hoped this would encourage kids to buy more, since the last pack buyer could claim this large photo as a bonus. Leaf might have released this set in the wake of Ruth's new 1948 visibility, first when a story of his life hit the big screen, and then when the Babe passed in August of 1948. (The latter could explain why Leaf used a serious-faced portrait of someone known to be jocular with fans and media, since many would be reminded of his last Yankee Stadium appearance.)
PSA's population report shows just 20 graded examples of this "light background" premium, one of three variations Leaf printed for Ruth. Its PR 1 grade reflects the glue spots on its reverse and a vertical fold in the middle. Regardless of technical grade, this offers a rare chance to acquire one of Ruth's scarcer issues, relased at the bookend of his titanic career.