Condition of Banknotes

Grading / Condition of Banknotes

Everyone has their own interpretation of what a certain grade means. When buying from dealers, make sure they follow strict international and Society standards.

Uncirculated (UNC) A perfectly preserved note (100% new), never mishandled by any parties. Paper is clean and firm, without discoloration. All corners are sharp and perfectly square, without any evidence of rounding. A UNC note will have it's original, natural sheen and crisp.

About Uncirculated (AU) A virtually perfect note, with evidence of some minor handling. Condition may show very slight bank counting folds at a corner or one light fold through the center, but not both. An AU note cannot be creased - a crease being a hard fold which have "broken" the surface of the note. Paper is clean and bright with original sheen. Corners are not rounded.

Extremely Fine (EF) A very attractive note, with light handling. May have a maximum of three light folds or one strong crease. Paper is clean and bright with original sheen. Corners may show only the slightest evidence of rounding. An EF note may also have the slightest sign of wear where a fold meets the edge.

Very Fine (VF) An attractive note, but with more evidence of handling and wear. A VF note may have several folds both vertically and horizontally. Paper may have minimal dirt, or possible color smudging. Paper itself is still relatively crisp and not floppy. There are no tears into the border area, although the edges do show slight wear. Corners also show wear but not full rounding.

Fine (F) A note which shows considerable circulation, with many folds, creases and wrinkling. Paper is not excessively dirty but may have some softness. Edges may show much handling with minor tears in the border area. Tears may not extend into the design. There will be no center hole because of excessive folding. Colors are clear but not very bright. A staple hole or two would not be considered unusual wear in a Fine note. Overall appearance is still on the desirable side.

Very Good (VG) A well used note, abused but still intact. Corners may have much wear and rounding, tiny nicks, tears may extend into the design, some discoloration may be present, staining may have occurred, and a small hole may sometimes be seen at the center from excessive folding. Staple and pinholes are usually present, and the note itself is quite limp but no pieces of the note is missing. A note in VG condition may still have an overall attractive appearance.

Good (G) A well worn and heavily used note. Normal damage from prolonged circulation will include strong multiple folds and creases, stains, pinholes, and/or staple holes, dirt, discoloration, edge tears, center hole, rounded corners and an overall unattractive appearance. No large pieces of the note is missing. Graffiti is commonly seen on Good notes.

Fair (F) A totally limp, dirty and very well-used note. Larger pieces may be half torn off or missing besides defects mentioned under the Good category. Tears will be larger and obscured portions of the note will be bigger.

Poor (P) A "rag" with severe damage because of wear, staining, pieces missing, graffiti and large holes. May have tape holding pieces of the note together. Trimming may have taken place to move rough edges. A Poor note is desirable only as a "filler" or when such a note is the only one known of a particular issue.