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Your choice of paper can make or break your resulting book. I used to buy 10 reams of 20lb white copy paper from Costco letter size, but I have since switched to ledger size (11x17 inches) cream paper that I cut in half myself to yield short grain paper.
I still use the white paper as waste sheets and to make Oxford hollow tubes.
This list was originally compiled for fanfiction bookbinders, but the items listed apply to bookbinding as a whole. :)
Visit me at fanficbookbinding.com