[drcy]

As I've said for years, a collector shouldn't even want a Pre-War news photo that is in Gem Mint condition, because that means it is probably either a modern reprint or has been altered (usually trimmed). 99.9 percent of authentic Pre-War news photos naturally have some form of wear and tear. They are paper thin items that were well handled over the years, editors and photographers commonly wrote notes on and rubber stamped the backs, and almost all have at least slightly rough edges here and there, a wrinkle or two, a dinged corner. This explains why collectors shouldn't be unduly concerned with condition.

As with baseball cards, tobacco signs, movie lobby cards et al, a heavy crease or unsightly wrinkling through the image, stains, missing corners, water damage, missing paper or spots in the image and other such thing that effect eye appeal do effect financial value. Condition is part of the value of photos. However, a slightly dinged corner, or small surface wrinkle on the white border will have little to no effect on value. It's about general naked eye appearance, especially of the images, and, as said, antique photos, especially news photos, are expected to have at least a some wear and aging.