Grading
Grading is the most subjective and controversial component of paper money collecting today. Slight differences in grading can equate to considerable differences in value. Therefore, we utilize the International Bank Note Society's (IBNS) Grading Standards for World Paper Money. Below is a summary of their definitions and abbreviations.
- UNCIRCULATED (UNC): A clean, crisp note with sharp, square corners that still has its original, natural sheen. There is no evidence of handling by the issuing authority, a bank teller or a collector. UNC does not necessarily mean the note has not been issued to the general public. It is used only as a qualitative measurement of the appearance of the note.
- ABOUT UNCIRCULATED (AU): A near perfect note with signs of some handling. It will still be clean with its original sheen, however, there may be evidence of bank counting folds at a corner or one light fold through the center, but not both. An AU note cannot be creased - a fold that has "broken" the surface of the note. The corners are square and not rounded.
- EXTREMELY FINE (XF or EF): A bright, clean note with evidence of light handling. It may have a maximum of 3 light folds or 1 crease. The corners may show slight rounding.
- VERY FINE (VF): A VF note will show more evidence of handling. It may have several folds both vertically and horizontally. It may have minimal dirt or smudging, however, the paper will still be crisp and not floppy. A VF note will not have any tears into the border area, but the corners will show wear.
- FINE (F): An F note will show considerable wear with many folds, creases and wrinkling. The paper will be slightly dirty and may have some softness. There may be some tears into the border, but not into the design. It will not have a center hole due to excessive folding. Colors are clear but not bright. There may also be a staple holes present. (Note: Some countries routinely staple their notes together in groups before issue. An UNC note with staple holes will be graded as AU and not F in this case.)
- VERY GOOD (VG): An abused note that is still intact (NO pieces may be missing). Corners are rounded, tears may extend into the design, staining may be present. Staple and pin holes are present and the note will be floppy.
- GOOD (G): A heavily circulated note with multiple folds, creases, stains, graffiti, holes, dirt and tears into the design. Corners are rounded and small pieces of the note may be missing.
- FAIR (F): A totally limp, dirty and well used note. Large pieces may be half torn off or missing.
- POOR (P): A rag with severe damage, missing pieces, large holes, and staining. It may have tape holding it together. A P note is only desirable when such a note is the only one known to exist.
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