Overall it doesn't look too bad for it's age. It has no rips or tears that I see. The frame shows normal wear. It has some scuffing and a couple chips.
The certificate was awarded to Robert Fragel on Decmeber 15th 1936 for completing the full course of apprenticeship for the Machinist Trade in the works of the Caterpillar tractor co. It is signed by the factory manager, and also the president, Claude Heacock. Fragel was born in Peoria, Illinois in 1914. He graduated first from the Caterpillar Tractor Co. Trade school in 1936 as a tool designer, and after graduating from Dodge's school of Transmissioneering went on to open Fragel tool & supply in Davenport Iowa.He passed away in Davenport in 1999. This is a fantastic piece of prewar Caterpillar Tractor Co.
Advertising, and is obviously a one of a kind piece. See pictures to make your own determination on physical condition.