I can't for my life figure this out?! The accepted answer here isn't helping me.
4 Answers
Found it! It was hidden in the depths of Preview printing options. Select Paper Type/Quality and it's under 'Color Options':

EDIT - Cullub
In OSX 10.10.3, Preview
Under Quality & Media.

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I have a strong feeling the cause of the variety of locations is due to the printer drivers themselves.
The drivers are provided by the manufacturers, even the ones included with the OS. I don't think they all follow the same human interface guidelines or don't make much of an attempt at uniformity.
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For those of you who don't have the "Grayscale printing" option available on Canon printer: You can set this in "Canon IJ Printer Utility" app. You should be able to find it with Spotlight.
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I am using an Epson printer on a Mac and the grayscale printing option does not show up in the preview app when the file is a jpeg, png, or other image.
When I convert the image to PDF, that option appears.
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