That was my first impression as well. But, I compared it to my only graded Bust Half also graded by ANACS as a VF-35. My Bust Half is in the newer yellow holder. This one appears to have better details than mine.
Nothing to compare it with on my end.......just raw speculation and a whole lot of horse sense........manure. I could be wrong.
Based on the last 10 CBH's I submitted to NGC. I would get a F-30 or VF-35. For some reason I see a lot of CBH's with wear & scratches graded clean XF's ? Look like a 1833 Overton-101 R1. I see a lot of wear on the OBV curls & the REV wings. But a nice CBH