Cover is reprinted from #54. The rest of the contents are reprints. Just a small note that the apostrophe has moved from before to after the letter "s", and is actually the official way to spell this series.
A lot of material in this issue was reprinted from For Monsters Only. This is the first monster title from Cracked after that series' cancellation in 1972.
This issue, if Tom Smith remembers correctly from his research, would have had a cover date of around July 1974 if it was dated, and it was the first Collector's Edition to go on a more frequent publishing schedule (as well as the first with that name).
The first of a plethora of monster-themed Collector's Editions. Several of these early Collector's Editions featured primarily reprints of photo caption articles, which Tom Smith always considered to be filler pages in regular Cracked and For Monsters Only. The type of things that were later called "Cracked Lens"', corny captions to old movie stills. As a result, many of these early issues were very quick reads, with very little actual artwork, and loads and loads of cheapie movie stills. Tom always found those type of articles to be rather dull, so he was not a fan of the issues which are filled with them.