Quality grading.
Quality is very subjective. Where one finds a note will only have value if you can see it has been used, the other thinks it should be absolutely perfect.
All what deminishes that perfection is called a defect. So a note can have just one small cornerfold, or a note could have lost all of its strength and be nothing but rags.
To objectify these defects, a long time ago a number of standards have been set to describe the quality of paper money as objectively as possible. Especially for old rare notes the quality description is very important, because that influences the value tremendously in the various qualities.
Although some professional grading services like ICGS are available, I am using the quality descriptions as used by the IBNS.
Before you will use below quality descriptions please note: However extensive, it is not possible to create a limitative list of all possible defects and how they exactly influence the quality of a specific note. That is why this directive is to be applied: Look at the quality of a note as a whole, and describe that with the quality grading. Any additional defects, are to be described like: "UNC but a corner is missing" or "Very Fine, but a small tear on the central vertical fold" or "Extremely Fine, but cleaned and pressed". Always assume that whenever a note has obtained a certain quality, virtually no action will improve that quality. Don't try to remove dirt, stains or ink, it will just not improve! Doubts? Ask an expert to help!
The quality standards from the IBNS (The International Bank Note Society).
-Adapted for use on this website, by Patrick Plomp-
Cleaning, washing or pressing paper money is generally harmful and reduces both the grade and the value of a note. At the very least, a washed or pressed note may lose its original sheen and its surface may become lifeless and dull. The defects a note had, such as folds and creases, may not necessarily be completely eliminated and their telltale marks can be detected under a good light. Carelessly washed notes may have white streaks where the folds or creases were (or still are).
Processing of a note which started out as Extremely Fine will automatically reduce it at least one full grade.
Glue, tape, or pencil marks may sometimes be successfully removed. While such removal will have a cleaned surface, it will improve the overall appearance of the note without concealing any of its defects. Under such circumstances, the grade of the note may also be improved.
The words “pinholes”, “staple holes”, “trimmed”, “writing on face”, “tape marks”, etc. should always be added to the description of a note. It is realized that certain countries routinely staple their notes together in groups before issue. In such cases, the description can include a comment such as “usual staple holes” or something similar. After all, not everyone knows that such-and-such a note cannot be found otherwise.
The major point of this section is that one cannot lower the overall grade of a note with defects simply because of the defects. The price will reflect the lowered worth of a defective note, but the description must always include the specific defects.
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 aUNC.
ABOUT UNCIRCULATED (aUNC): A virtually perfect note, with some minor handling. May show 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 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 (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 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 folding. Colors 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 center 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, center 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 (R): 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 (P): 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.
Quality descriptions in order of good quality to bad. Including translation EN-NL
| NL | EN |
| UNC | UNC |
| UNC- | aUNC |
| XF/UNC | XF/UNC |
| XF+ | gXF |
| XF | XF |
| XF- | aXF |
| VF/XF | VF/XF |
| VF+ | gVF |
| VF | VF |
| VF- | aVF |
| F/VF | F/VF |
| F+ | gF |
| F | F |
| F- | aF |
| VG/F | VG/F |
| VG+ | gVG |
| VG | VG |
| VG- | aVG |
| G/VG | G/VG |
| G | G |
| R | R |
| P | P |