IBNS Grading Standards
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.
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 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 (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
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: 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 (PR): 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.