Hi, my name is*****'m a certified appraiser, and I'd be happy to help.
The writing on the verso says:
With gratitude from the Soviet people
August 12 1990
The photo of the front is a bit indistinct. Is it at all possible to get a better, clearer photo of the actual icon front?
This is a 20th century Russian icon of the Mother and Child. I'm unclear--is that gold leaf, or gold-colored paint?
Yes, these are all in egg tempera, but usually have gilded areas as well.
Those are not insect holes on the front, although they are on the back. Instead of gilding, some icons have a hammered metal sheet adhered over the painted layer. Those holes are where the sheet was attached. That is often done instead of directly gilding the painting. On this link, you can see what this would have looked like before the metal plate was removed:
The tempera losses are likely due to the rubbing of the hammered metal frontspiece, before it was removed.
Based on the style of the painting, this piece is definitely 20th century. Given the condition of the tempera, and the missing fronstpiece, the value would not be high. perhaps $100.
I do still feel this is 20th century. However, I am going to opt out. Perhaps another appraiser will add more insight.