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John SI have no issue with reprints/graded reprints as long as they are properly marked. They should be marked or re-sized (or both) so even a layperson would have no problem identifying them as reprints. I own a few reprints for reference and torture (Wagner T206) only.
The only reason that reprints have any value beyond asthetics and reference is that people believe that they doctor a copy and deceive someone else. How many tea-stained artificially rounded and creased fakes are on ebay currently? The sellers of these items "play dumb" including their cards in lots of legit cards or offering a sentence disclaimer after a two paragraph explanation about their incredible attic find. They prey upon the ignorant and the gambler.