Papermoney Pick standard (UNC-POOR)

Uncirculated (UNC)
A perfectly preserved note, never mishandled by the issuing authority, a bank teller, the public or a collector. Paper is clean and firm, without discoloration. Corners are sharp and square, without any evidence of rounding. (Rounded corners are often telltale sign of a cleaned or “doctored” note.) An uncirculated note will have its original natural sheen.
NOTE: Some note issues are most often available with slight evidence of counting folds (creases). Also, French-printed notes usually have a sight ripple in the paper. Many collectors and dealers often refer to such a note as AU-UNC.

About Uncirculated (aUNC or AU)
A virtually perfect note, with some minor handling. May show evidence of bank counting folds at a corner or one light fold through the centre, but not both. An AU note cannot be creased, a crease being a hard fold, which has usually “broken” the surface of a note. Paper is clean and bright with original sheen. Corners are not rounded.

Extremely Fine (EF or XF)
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. There may also be 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. May have a number of folds both vertically and horizontally. Paper may have minimal dirt, or possible colour 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 centre hole because of folding. Colours are clear but not 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 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 note in VG condition may still have an overall not unattractive 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, centre hole, rounded corners and an overall unattractive appearance. No large pieces of the note may be missing. Graffiti is commonly seen on notes in Good condition.

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

Poor
A “rag” with severe damage because of wear, staining, pieces missing, graffiti, larger holes. May have tape holding pieces of the note together. Trimming may have taken place to remove rough edges. A Poor note is desirable only as a ”filler” or when such note is the only one known of that particular issue.

SHELDON GRADING SCALE

70 (Gem Unc)   The highest grade assigned. Notes must have no evidence of handling visible at 5x magnification. The margins and registration must appear centered to the unaided eye.

69 (Superb Gem Unc)   This note is nearly visually indistinguishable from a 70 but the margins and registration may appear slightly off center. There is no evidence of handling visible to the unaided eye.

68 (Superb Gem Unc)   The margins and registration are slightly off center. There may be very minor handling.

67 (Superb Gem Unc)   A note with above-average margins and registration. There may be minor handling.

66 (Gem Unc)   There may be slightly more handling than a 67 EPQ note. The centering must be above average.

65 (Gem Unc)   The note may have one or two minor distractions as a result of minor handling. The centering must be above average.

64 (Choice Unc)   The centering is off on one or two sides. Some handling may be evident but there must be no folds in the design.

63 (Choice Unc)   The centering is imperfect and the design may be flat. There may be several flaws but there will be no folds.

62 (UNC)   The note is strictly uncirculated but may have minor-to-moderate handling and/or corner tip issues. There will be no folds, however. The margins may touch or come into the design.

61 (Unc)   The note is poorly centered and the margins come into the design. There may be counting marks, smudges or other signs of handling. There will be no folds through the design.

60 (Unc)   A note with problems that may include toned paper, a small stain or fading. There will be handling issues but there will be no folds through the design.

58 (Choice About Unc)   Often a note with a single fold that crosses the design.

55 (About Unc)   This grade is commonly assigned to a note that has one fold or two to three corner folds through the design.

53 (About Unc)   A note with two vertical folds or a single horizontal fold. May also have signs of handling.

50 (About Unc)   The note has two heavier folds or light horizontal and vertical folds. The handling can be significant.

45 (Choice Extremely Fine)   A note with two to three heavy folds, one of which may be horizontal.

40 (Extremely Fine)   There are three or more folds, one of which may be horizontal.

35 (Choice Very Fine)   For years dealers and collectors called this grade “VF-XF.” This note looks Extremely Fine, but it will have four to seven light folds.

30 (Very Fine)   This note will be lightly circulated and may have light soiling. There will typically be seven to ten folds.

25 (Very Fine)   A note that shows modest evidence of circulation as well as more folds and/or soiling than a note graded 30.

20 (Very Fine)   The note is moderately circulated with numerous folds, mild soiling. There are no serious detractions but there may be minor defects.

15 (Choice Fine)   This note may look like a Very Fine note, but upon closer examination it is found to have too many folds or too much circulation to warrant a Very Fine grade.

12 (Fine)   The evidence of circulation is considerable with rounded corners, margin splits and other issues. The note must be whole with solid paper.

10 (Very Good)   A solid, whole note with lots of circulation. The note is too limp and has a number of minor problems.

8 (Very Good)   The note is heavily circulated but is intact. Some small pieces may be missing. Soiling, light stains or splits are common for this grade. The note is limp.

6 (Good)   The note is very worn with serious splits, fraying of the margins and damage.

4 (Good)   A very heavily circulated note with numerous problems. It is totally limp with impaired visual appeal. Notes in this grade are commonly seen with pieces missing.

STANDARD INTERNATIONAL GRADING TERMINOLOGY AND ABBREVATIONS