Wednesday, February 22, 2012

Grading of Notes

Currency Notes are graded based on their condition. 

The grades specified by the International Bank Note Society (IBNS) are as follows 

A banknote that is bright and has no handling damage, such as folds or creases, nor any cuts, stains, or rounded corners
About uncirculated
A banknote that is still bright but has trivial handling damage, i.e. a light centre fold (not a crease, which is a break of the fibres of the paper), without rounded corners
XF or EF
Extremely fine
a banknote with one crease or up to three light folds. Paper still bright and attractive, very slight wear to corners allowed
Very Fine
Note still attractive, but possible slight dirt or smudging, may have several horizontal and/or vertical folds. Paper remains relatively crisp. No tears, but slight wear to edges and corners is allowable.
Paper is now slightly soft, considerable wear due to folds from use in circulation. Minor tears to note, not extending into the design. Clear but not bright in appearance. Staple holes but not holes due to folding.
Very Good
Much wear. Paper is limp. Tears can extend into the design. Staining possible. Discoloration possible. Hole at center caused by folding allowable. Note still looks presentable.
Very much wear, as VG, but more so. Graffiti on note. Small pieces of the note may be missing

Larger pieces of note torn off/missing, compared with G. Less of the note intact

Severe damage due to wear, staining, missing pieces, graffiti and/or holes

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