How to Understand Coin Grading Terms
Banknote Grading
How to understand banknote grading Terms
Uncirculated (Unc)
A note that is perfectly preserved, never been mishandled by either issuing authority, a bank teller or the general public. The Paper is clean, crisp and firm without any discolouration. Should display sharp and square corners without evidence of rounding. Noted: Some note issues can display rippling near security threads, which is a manufacturing issue, not circulation wear, Also, French-printed notes usually have a slight ripple in the paper due to the type of paper and ink used.
Almost Uncirculated (aUNC)
A virtually perfect note, with some minor handling. May show very slight evidence of bank tellers flick, folding at a corner or one light fold through the centre, but not both. An almost Uncirculated note cannot be creased, a crease being a hard fold which has usually ‘broken’ the surface of the note. Paper is clean and bright and crisp with original sheen to paper. Corners are sharp not rounded.
Extremely Fine (EF)
A very attractive note, with minor handling marks. Paper will present clean and firm without discolouration. May have a maximum of three light folds or one strong crease. Corners are sharp and square without any evidence of rounding.
Very Fine (VF)
An attractive collectable note, but with more evidence of handling and wear. May have several folds both vertically and horizontally. Paper may have minimal discolouration, or smudging. Paper still has some body and is relatively crisp not limp and 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 that shows considerable circulation, with many folds, creases and wrinkling. Paper is not excessively dirty and may have some softness. Edges may show much handling, with knicks or minor tears in the border area not extend into the design. There is no centre hole because of excessive folding. Colours are clean but subdued. A staple hole or two would not be considered unusual wear for a not of this grade. The appearance is still overall pleasing.
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 discolouration may be present, staining may have occurred, and a small hole may sometimes be seen at centre from excessive folding. Staple and pinholes are usually present, and the note itself is quite limp but no pieces of the note can be missing. A some what pleasing note, still collectable.
Good (G)
A well-worn note that’s seen heavy circulation. Normal damage from prolonged use will include the following; multiple heavy folds or creases, stains, pinholes, staple holes, discolouration, edge tears, centre hole, heavily rounded corners. No large pieces of the note may be missing. Graffiti or pen notations are commonly seen on notes in Good condition.
Fair (Fr)
The note will be limp in paper quality, dirty and very well used and have a ‘shabby’ appearance. Larger pieces may be torn or missing beside the defects mentioned under the good grade category. Tears will be larger, obscured portions of the note will be bigger.
Poor (P)
A banknote which has had a very hard life, a ‘rag’ with severe damage because of heavy wear. Can have multiple of the following, heavily stained, graffiti or pen notations, larger holes, corner or larger pieces missing or have sellotape holding the note together. Generally not collectable unless a rare or desirable issue, used only as a ‘filler’ or when such a note is the only one known of that particular issue.
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