1, Load up the image you want to "age".

2, First off all Desaturate the image (make it black and white). Do this by clicking on Image, Adjust, and then Desaturate.
(Image> Adjust> Desaturate)

3. After desaturing the image, create a new layer. Make sure that u have the defaul colors selected by pressing "D". Fill the new layer black. Now add noise. With a value of 45. Make sure Gaussion and monochromatic are selected.

The result should look similar to this:

4, Now select the the magic wand tool,(or press w) and select the black background. Once selected delete it.

5, If there are bits of white pieces left, keep them, they make it look even better.Now use the Ripple effect, about 4-5 times, till u get a nice result. Use the highest value of 999% and medium in the dropdown box. Also sharpen the image a bit.
(Filter > Distort > Ripple) x4
(Filter > Sharpen > Sharpen) x2

6, Ah looks nice already :D To make it even better, duplicate the layer, and add gaussion blur to it.

7, There we go, looks quite old doesnt it?