Banknote Grading

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The following introduction and Grading Guide is the result of work prepared under the guidance of the Grading Committee of the International Bank Note Society (IBNS). It has been adopted as the official grading standards of that society, as well as RealBanknotes.com.

Definition of Terms

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 any discoloration. Corners are sharp and square without any evidence of rounding (rounded corners are often a tell-tale sign of a cleaned or doctored note). Some note issuers are most often available with slight evidence of very light counting folds which do not break the paper. Also, French printed notes usually have a slight ripple in the paper. Many collectors and dealers refer to such notes as AU-UNC, but for the purpose of this website, these samples of paper money will be referred to as UNC.

ABOUT UNCIRCULATED (AU or AUNC):

A virtually perfect money bill, with some minor handling. May show very slight evidence of bank counting folds at a corner or one light fold throught the center, but not both. An about 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 with original sheen. Corners are not rounded.

EXTREMELY FINE (XF or EF):

A very attractive banknote, with light handling. May have a maximum of three light folds or one strong crease. Paper is clean and firm, without discoloration. Corners of bill are sharp and square without any evidence of rounding.

VERY FINE (VF):

An attractive note, but with more evidence of handling and wear. May have several 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 in the border area, although the edges do show sligh wear. Corners also show wear, but not full rounding.

FINE (F or FF):

A note that 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 excessive folding. Colors are clear but not bright. A staple hole or two would not be considered unusual wear in a banknote of this grade. 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, and tears may extend into the design. Some discoloration may be present, staining may have occurred, and a small hole may sometimes be seen at center from excessive folding. Staple holes and pinholes are usually present, and the note iteself is quite limb but no pieces of the note can be missing. A bank bill in very good 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 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 (FAIR):

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

POOR (P or 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 a note is the only known of that particular issue.

Further Notes

This website will only concern iteself with notes in Very Good condition or better. Any notes in good, fair, and poor condition will not be included in listings, except as examples of grading.