Ha! I have covered many photos over the years with new photos just because of people aging and/or nedig a frame - not that they weren't treasured. (If it wasn't, they would have trashed it.)
The outfit resembles a "regency style skeleton suit" HOWEVER it isn't! Skeleton suits had white collars. Skeleton suits were worn by boys, after wearing young "children's clothing" (which most thought were all girlie attire) and before wearing men's suits. HOWEVER - the collars were generally white!
In the very late 1800's "rompers" or dress shirt pictures were popular up until the 1940. The style of the collar and hair (parted on side) reflects 1900 to 1930's as shown in this ad for 1910 and
a family photo from 1929 (the only reason the hair isn't parted is because the hair was so fine they said even motor grease wouldn't have kept it parted! LOL).