You may get .psd* file of "Vintage style monogram in the antique golden frame" Photoshop tutorial by making a payment. Put the tutorial title in "Add special instructions to seller" line of PayPal and it will be sent to you shortly.
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- Separate it from background.
- Apply Auto Contrast.
- Go to Image > Adjustments > Black and White > Green Filter.
- Reduce shades. Click "Q"(Quick Mask). Fill Frame with black and white linear gradient just like in the example below.
- Click on "Q" again, you should get selection like on the screen shot below.