A cap lets the tone control roll off the treble response progressively warming the tone.
Ceramic vs paper in oil caps.
These caps were filled with paper in a special oil inside of bakelite bodies with the original nema color codes printed on them this is how many resistors are still printed.
Briefly a capacitor in the context of musical electronics consists of two plates of conducting metal separated by an insulating layer called a dielectric for example if you took two rolls of aluminum foil and unrolled them sandwiching a layer of paper between that would make a capacitor.
The cheap ceramic caps are a little different story.
Did i just buy some magic beans or the brooklyn bridge.
I bought a bunch of vintage paper in oil caps.
Pio caps were used in the les pauls of the 50 s and many appreciate their tonal qualities over more modern capacitors.
Others are made out of mylar ceramic etc.
The bumble bee caps were later replaced by the black beauties which contained a winding of aluminum foil and paper film along with oil and were printed with the specs.
Paper in oil or pio caps are just one variety of capacitor.
They still have the kraft paper in oil construction like the vintage russians but these are hermetically sealed metal tubes with glass ends so the value will not drift over time.
But for that moron to steal my cap and replace it and for me to never notice must mean that the difference is negligible at best.