Grading World Paper Money

UNCIRCULATED (UNC): A perfectly preserved note, Paper is clean and firm, without discoloration. Corners are sharp and square, without any evidence of rounding.
NOTICE THAT:

1- 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. As well as some notes have common ph and  so often refering to such a note as AU-UNC or AU+
2 - The word “Uncirculated” (UNC) mean the qualitative of the note. AND NOT whether or not the note was in circulation. In order for a note to be called UNC it must be in condition that there can be no other note that show better condition, meaning simple perfect.

ABOUT UNCIRCULATED: (AU also referred as XF-UNC) A virtually perfect note, with some minor handling. May show evidence of 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.  Corners are not rounded.

EXTREMELY FINE: (XF or EF) A very attractive note, with light handling. May have a maximum of three light folds or one strong crease. Paper is clean and bright. 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: (it is not recommended to use F for abbreviation as it might be confused with FAIR) 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. May also have a staple holes

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.

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: (it is not recommended to use F for abbreviation as it might be confused with FINE) 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.

VALUATION:

The World-Standard-Paper-Money (WSPM) catalogue usually give valuation of VG VF and UNC as for the rest of the grade as well as middle grade the following is recommended:

AU = (XF+UNC)/2
XF = (VF+UNC)/2
Fine = (VG+VF)/2
G = VG/2
Fair = G/2
P = Fair/2

Middle grade will be as follow
VF/XF = (VF+XF)/2
VF+ = (VF+VF/XF)/2
VF- = AVF = (F/VF + VF)/2

Notice that for more expensive notes meaning 100$ and above the following should be also calculated and the higher value between the above and the following should be used:

AU = 0.85 * UNC
XF = 0.70 * UNC

CLEANING(Washing), PRESSING(Ironing) OF BANKNOTES