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MikeBut without the attached "slug" many photos may show babe Ruth for example, but what is he doing? What game is it? Who is he with ? What date was it? is it his first wife or his second ? What hit or home run was it? Was it something important? called shot ? Or just a long meaningless homerun? So I guess I disagree somewhat, in that it does lower the value. maybe I was a little over zealous when I said it lowers it a lot, but yes, it certainly does lower it. I have been collecting Foxx, gehrig, and Ruth newsphotos (NOT WIRE PHOTOS) as there wasn't such a thing back then. I have about 70 of them. So to me, yes it does lower the value. And one more thing, without the slug, it makes it harder to know whether it is a copy or an original. With the attached slug, it is almost always an original.