said by NullQwerty9:
While i understand long-term it should be replaced, does what Jack b is saying or what normal was saying apply to my style as well? Seems like it should.
If it was the washer right at the top near the plastic or metal handle, it would drip at the handle. So it isn't that. But pick one up. If it ever leaks (or you damage it) you will be glad you have it.
In the picture you can see a washer in the pipe. That is one of them to change. There is actually one or two more, depending on the model. One right at or rear the end, which really isn't visible in that picture, and you may have another o-ring in between those two.
So shut off the water, take the entire valve out (may have to wiggle it hard when you unscrew it) and bring the whole thing with you to homedepot or whatever ("some" homedepots hire retired plumbers so you don't waste an hour dicking around wondering which one will fit out of the hundred different sizes. The guy will likely replace them for you right there).
Get extra's for each of these in your home. Do them all. Flush it out a little bit to move particles out.
I have one in the house like that (seems to be a cast iron handle) from around the 60's which is an odd non-standard size these days. Homedepot didn't have one of the parts. Had to go a real plumbing only type place for the "packing washer".
So while these are normal to see, if it's a real 50-yr old odd size one like I have (and they are quality made) you may have trouble finding that packing washer. So go easy on that particular washer just in case (since I don't know the specifics of yours).