Paint Chipping
This cel of Tony the Tiger is the oldest and most damaged one I own. It was used in a commercial before the existance of color television.
This is a close-up with a different colored background. You can see the large areas of paint chipping. This chipping has very sharp clean edges, which gives it a different look than the small rough edges caused by stuck layers. The areas of glare are real as well. Although there are no true bends in the acetate, it is quite warped and is no longer completely flat.