Gary,
If you're talking about the bottom edge, I consider that wear, not paper loss. It would be like saying a card with rounded corners has paper loss.
Example: The Duffy below has rounded corners. I am sure the corners were sharp when the card left the factory. Does that mean it has paper loss? No, it's considered wear altough technically the paper is no longer there.
Anyway, that's my opinion, but I would love to hear others.
