Masters of restoration and repair
Using Teflon Tape
Teflon tape helps alleviate string binding at the nut and in some cases at the bridge saddles as well.
In the late 1980's Denny had just finished doing a little plumbing at the shop and had some teflon tape laying around. When tuning up a Les Paul and hearing the awful creaking sound that is a common occurrence when strings are binding, Denny decided to pass on the pencil lead this time and try using some teflon tape. Teflon is one of the slickest substances on the planet so why not give it a try? Bingo! It works great and even helps alleviate the binding on the bridge saddles especially with Bigsby Tremelo.
You can find the white teflon tape at most hardware stores for a dollar or two a roll.