1932 R328 U.S. Caramel Babe Ruth
The 1932 U.S. Caramel set was produced by the then-prominent U.S. Caramel Company and featured 32 famous athletes, 27 of whom were baseball stars. #32 in this set featured Yankees outfielder Babe Ruth. All cards in this set feature a black-and-white photo against a red background.
The Babe Ruth card is actually not the most difficult to find card from this set. That honor would go to card #16 - Charles Lindstrom. Only a few of the Lindstrom cards are known to exist. At the time, only a few of the Lindstrom cards were printed in order to spare the producer the cost of fulfilling redemptions (a baseball for one complete set or a glove for three).