I prefer them as pristine as possible, purely for the potential resale value. At some point, even if it a willed donation after I take a dirt nap, I want them to be worth something. But since I am primarily into the decorative nature of the pennants, I forgive a few flaws. Tassels? Bottom pair missing ... okay. Top pair ... no shot. Just looks funny IMO. Even a blunted tip doesn't kill me. Stains and fading do.
Funny thing about the pennant tips, though ... absolutely convinced that sometimes, some of the 50s and 60s pennants where produced with a tip that was slightly squared. I have a '55 Dodger "crown" pennant that is a full 30" and barely fits in the holder, yet the tip is a little squared off. I'm certain they made it as such - not so much by design (i.e. deliberately), only that it came out of the factory that way.
Which reminds me of someone currently selling a '59 White Sox picture "pennant" in eBay. That's how it is described. One tiny flaw, though ... it is missing the pennant! (Go look.)
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