The sample is really too small to may a definitive ID. The letterforms share some of the characteristics of this typeface...

http://new.myfonts.com/fonts/bitstream/amerigo/amerigo/characters.html

but likely aren't as severe and contrasty...

the characteristics are difficult to define at such a size, such as the top serif on the A... that's the most unique one i see. a scan at a higher resolution will help.

having the high x-height to cap-height ratio that it does,
i suggest Caxton (http://new.myfonts.com/fonts/letraset/caxton/)
but check out these others too:
Diaconia Old Style (http://new.myfonts.com/fonts/bergsland/diaconia-old-style/)
Williams Caslon http://new.myfonts.com/fonts/fontbureau/williams-caslon-text/

my initial guess was a version of Caslon, but look at your font's bowl of the B and x-height of the b and d. also, i can't tell if the bar of the t is at a tilt or not.

Thanks to you all. I will try to get a higher resolution soon.