The right front tire has a break but is not missing a piece of rubber. The rubber tire broke and then shrunk to appear as though a piece is missing.
Photos show that the two ends of the tire meet perfectly. The final photo shows a page from an original Mercury toy catalog showing the racing car and it's fellow large sized offerings.
It is complete, all original and in excellent condition. Check out our other listings for more nice toys. If you have any questions or want more photos, please ask. There is some metal fatigue on the wheel with the broken tire - see photo. It is stable and does not appear to be coming apart.
The other wheels show no signs of fatigue. The item "1950'S FORMULA 1 GRAND PRIX RACING CAR 10 1/4 BY MERCURY OF ITALY" is in sale since Sunday, January 03, 2016. This item is in the category "Toys & Hobbies\Vintage & Antique Toys\Tin\Vehicles".The seller is "gidneycloyd" and is located in Medinah, Illinois. This item can be shipped worldwide.