I have a small collection of antique quilts and just love them. FACTS: #1. A quilt is only as old as the newest piece of fabric on it. #2 A quilt is considered "antique" when it is 50 years old. However, since I am not a purist and wish to use all my quilts, I do fix them. Yours would be easy to fix by hand-appliqueing a similar, somewhat faded-looking print to the damaged patches. The frayed binding shows the quilt was well used and loved...a good thing. You can replace the binding as well by just covering it with new. If you are of a different mind, however, do check out what you need on Google. Lovely quilt ♥ ♥ ♥