The "balding" or rubbing on the calf hair (the lighter brown/tan patches) is common for antique fur bags. It typically occurs where the bag rubs against the body or where hands frequently touch the flap.
VTG MCM 50's Black Fabric Purse Bag Clear Lucite Handle
VTG MCM Dorca Brand Made in Spain Silver Clutch Purse Bakelite Trim/closure
VTG MCM Blue Irredescent Regale Clam Shell Glass Bead & Gold Clutch Purse EUC
Vtg 1970's Brass & Copper MCM Ball Chain Square Reto Geometric Choker Necklace
RARE Rosenfeld Hand Beaded Designer Eye Glass Case MCM Layered Blooming Rose VTG
VTG LARGE HANDMADE SHOULDER BAG PURSE RETRO SPACE AGE MOD MCM FESTIVAL Messenger