In fact it’s not so much the cutting itself, but the intention behind it. It’s quite clearly a cut out insert. It’s marked with scissors to indicate where to cut and fold it, and it’s CD size, also containing notes in German and a little discography. It would work beautifully as the insert to a PVC CD envelope, or folded in as the front of a jewel case. Or it could be designed to fit into an index box.
Marked also as part of “100 Meilensteine” and “Zounds 86”, and there’s a handwritten note on the back “Zounds 4/92” which indicates the magazine it comes from. Obviously this is a 100 Great/Milestone Albums collection, and I guess could be number 86.
Intriguing though, because it’s not at all obvious what it relates to. I’ve seen inserts like that printed for use with cover CDs from magazines, but there’s no indication I can find that Zounds issued these.
If anyone has any definite knowledge of what this might be I’d be most grateful.