Originally Posted by barrysloate

When we have these discussions there seems to be some confusion regarding exactly what a variation is. As Matt stated, there needs to be a change in the printing plate for it to be considered a true variation. The correction of "Magie", and of "Doyle, N.Y. Nat'l" are real variations. The printer caught his mistake early in the print run and made the necessary correction.

However, cards such as "Nodgrass", "Murr'y", and "Shappe" are not variations, but mere printing glitches. At some point in the print run a tiny foreign substance, perhaps a smudge of dirt or grease, got lodged in the printing plate and blocked some of the ink from adhering to the paper. That is not a true variation, although the hobby currently considers them so. Collectors pay huge premiums for these, but the jury is still out for me whether those premiums are merited.