1. Open an image in PSE Editor.
2. Go to Enhance menu>Convert to Black and White...
3. Choose an appropriate preset for black and white like Potrait, landscape etc. Click Ok.
4. Now go to filter menu>Texture>Grain. Add appropriate amount of grain to give an old photo effect. Click Ok.
5. Now from Enhance menu>Adjust Color>Adjust Hue/Saturation.
6. Check the option Colorize and reduce the Lightness. And change the Hue such that it goes into Sepia tone.
7. After that you can use color burn tool from the tools bar to bring darker areas to increase contrast and give shadows near the neck line and face cuts to define these features(if in a potrait). in landscapes as well, you can bring similar effect to show shady regions.
Here are initial and final images :
It's that easy!
