The PMG Grading Scale

INTERNATIONALBANKNOTE SOCIETY (IBNS) GUIDELINES

GradingStandards:

UNCIRCULATED(UNC): Aperfectly 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 anyevidence of rounding. (Rounded corners are often telltale sign of acleaned or “doctored” note.) An uncirculated note will have itsoriginal natural sheen.

ABOUTUNCIRCULATED (AUncor AU): A virtually perfectnote, with some minor handling. May show evidence of bank countingfolds 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 hasusually “broken” the surface of a note. Paper is clean and brightwith original sheen. Corners are not rounded.

EXTREMELYFINE (EF or XF): Avery attractive note, with light handling. May have a maximum ofthree light folds or one strong crease. Paper is clean and brightwith original sheen. Corners may show only the slightest evidence ofrounding. There may also be the slightest sign of wear where a foldmeets the edge.

VERYFINE (VF): Anattractive note, but with more evidence of handling and wear. Mayhave a number of folds both vertically and horizontally. Paper mayhave minimal dirt, or possible color smudging. Paper itself is stillrelatively crisp and not floppy. There are no tears into the borderarea, although the edges do show slight wear. Corners also show wearbut not full rounding

FINE(F): Anote which shows considerable circulation with many folds, creasesand wrinkling. Paper is not excessively dirty but may have somesoftness. Edges may show much handling with minor tears in the borderarea. Tears may not extend into the design. There will be no centerhole because of folding. Colors are clear but not bright. A staplehole or two would not be considered unusual wear in a Fine note.Overall appearance is still on the desirable side.

VERYGOOD (VG): Awell-used note, abused but still intact. Corners may have much wearand rounding, tiny nicks, tears may extend into the design, somediscoloration may be present, staining may have occurred, and a smallhole may be seen at center from excessive folding. Staple andpinholes are usually present, and the note itself is quite limp butNO pieces of the note can be missing. A note in VG condition maystill have an overall not unattractive appearance.

GOOD(G): Awell-worn and heavily used note. Normal damage from prolongedcirculation 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 seenon notes in Good condition.

FAIR:A totally limp, dirty andvery well used note. Larger pieces may be half torn off or missing,beside the defects mentioned under the Good category. Tears will belarger, obscured portions of the note will be bigger.

POOR(PR): A“rag” with severe damage because of wear, staining, piecesmissing, graffiti, larger holes. May have tape holding pieces of thenote together. Trimming may have taken place to remove rough edges. APoor note is desirable only as a ”filler” or when such note isthe only one known of that particular issue.