Event related potentials (ERPs) were recorded during delayed discrimination of simple spatial frequency gratings in the high and low frequency bands. Analyses of the waveforms N170, P220, N310, P400, and slow wave (SW) indicated significant and regionally specific interaction of spatial frequency and hemisphere for N170 amplitude. This interaction was independent of memory conditions, and appeared to be in the opposite direction of what is predicted by the spatial frequency model of hemispheric asymmetry. Additional interactions between spatial frequency and hemisphere were observed for N310 in the encoding process (reference stimulus) and for SW in the retrieval process (test stimulus). The general hypothesis of an interaction of spatial frequency and hemisphere in visual cognition is supported, but the findings indicate caution in interpreting an increase in physiological measures as an indication of more efficient brain processing. Moreover, several stages of information processing may contribute to the asymmetry observed in behavioral studies, and hemispheric balance may change dynamically during the time course of processing.