Een van de belangrijkste redenen van teleurstelling binnen de verzamelwereld, is de subjectieve kwaliteitsweergave.
Verenigingen van papiergeldverzamelaars, schrijvers van catalogi en zelfs professionele graderingsbedrijven breken zich het hoofd erover. Maar gecertificeerde biljetten met elkaar vergeleken geven soms bizarre verschillen aan, waarbij een slechter stuk een hogere score heeft gekregen dan een beter stuk, vanwege leeftijd en zeldzaamheid.
De beschrijving die ik gebruik, is die van IBNS. Met de beste bedoelingen heb ik een poging gedaan de kwaliteitsbeschrijvingen van IBNS toe te passen en de PGCS kwaliteit eraan te koppelen. Een ding staat vast. Als ik het over UNC heb, dan bedoel ik een biljet zonder enige gebreken. Maar ook ik ben niet feilloos. En door de grote aantallen biljetten en beursbezoeken, kan het zijn dat een biljet dat ooit echt UNC was, of het in mijn oordeel was, nu wellicht niet meer helemaal UNC is. Ik zal de UNC biljetten voor verzending zelf zoveel mogelijk controleren, en wanneer ik zelfs na verkoop en betaling aan de kwaliteit twijfel, zal ik dit altijd aangeven.
In de IBNS identificatie staat "a" voor about en de "g" voor good. In de Nederlandse vertaling is "a" een "-" en "g" een "+".
| IBNS identification | PGCS grading | Dutch | PGCS' description |
| UNC | 70 EPQ | 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. Notes must qualify for the PMG Star () Designation to be graded 70. |
| UNC | 69 EPQ | 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. |
| aUNC | 68 EPQ | UNC- | The margins and registration are slightly off center. There may be very minor handling. |
| aUNC | 67 EPQ | UNC- | A note with above-average margins and registration. There may be minor handling. |
| aUNC | 66 EPQ | UNC- | There may be slightly more handling than a 67 EPQ note. The centering must be above average. |
| aUNC | 65 EPQ | UNC- | The note may have one or two minor distractions as a result of minor handling. The centering must be above average. |
| XF/UNC | 64 | Pr/UNC | The centering is off on one or two sides. Some handling may be evident but there must be no folds in the design. |
| XF/UNC | 63 | Pr/UNC | The centering is imperfect and the design may be flat. There may be several flaws but there will be no folds. |
| XF/UNC | 62 | Pr/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. |
| XF/UNC | 61 | Pr/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. |
| XF/UNC | 60 | Pr/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. |
| gXF | 58 | Pr+ | Often a note with a single fold that crosses the design. |
| gXF | 55 | This grade is commonly assigned to a note that has one fold or two to three corner folds through the design. | |
| gXF | 53 | A note with two vertical folds or a single horizontal fold. May also have signs of handling. | |
| XF | 50 | Pr | The note has two heavier folds or light horizontal and vertical folds. The handling can be significant. |
| XF | 45 | A note with two to three heavy folds, one of which may be horizontal. | |
| aXF | 40 | Pr- | There are three or more folds, one of which may be horizontal. |
| VF/XF | 35 | ZFr/Pr | For years dealers and collectors called this grade “VF-XF.” This note looks Extremely Fine, but it will have four to seven light folds. |
| gVF | 30 | ZFr | This note will be lightly circulated and may have light soiling. There will typically be seven to ten folds. |
| VF | 25 | ZFr | A note that shows modest evidence of circulation as well as more folds and/or soiling than a note graded 30. |
| aVF | 20 | ZFr- | The note is moderately circulated with numerous folds, mild soiling. There are no serious detractions but there may be minor defects. |
| F/VF | 15 | Fr/Zfr | 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. |
| F | 12 | Fr | The evidence of circulation is considerable with rounded corners, margin splits and other issues. The note must be whole with solid paper. |
| VG/F | 10 | ZG/Fr | A solid, whole note with lots of circulation. The note is too limp and has a number of minor problems. |
| VG | 8 | ZG | 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. |
| G/VG | 6 | G/ZG | The note is very worn with serious splits, fraying of the margins and damage. |
| G | 4 | G | 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. |