Vintage nubuck leather, very soft and supple - this would be nice for small pouches, moccasins, slipper sock soles, elbow patches etc. etc..
This is a piece about 36" to 44" x 50", not including the tag / label area. The tan color looks pretty nice and even, I didn't see any particular flaws as far as I could tell. (I don't know anything about grading leather, though!)