In this grade the banknote will show obvious signs of circulation, multiple folds etc, is otherwise undamaged and appealing.Ī banknote that qualifies as Extra Fine should be, there are some signs of circulation, with up to possibly 6 folds or a heavy centrefold, crease marks etc. Grades of Fine and above have many things in common, they are appealing, with no severe damage to spoil the look of the banknote.Ī banknote that qualifies as Fine will show substantial evidence of circulation, creases, folds and stains-the combined effect of these faults should not detract from the overall appearance of the banknote.Ī banknotes that qualifies as Very Fine would be satisfactory to the majority of investors. These first three grades should be avoided by the investor, unless extremely rare banknotes.Ī good guide for the investor is to avoid all banknotes under the grade of Fine, which is the next grade. Then comes Very Good, again a misconception, it simply means the banknote is not quite as bad as good. Such banknotes are badly damaged however they qualify as “good” because the printed design is complete. The next grade is good, this in actual fact a contradiction of terms, as it actually means the banknote is “bad”. This grading system starts with Poor which simply means the banknote is severely damaged. The most popular system of banknote grading in Australia is one adopted by the British Museum. If it is one the obverse side of the banknote for example in the middle of the banknote, this will affect the value dramatically, rather than if in the corner of the banknote. The problem is that the position of a dirt stain can make a lot of difference to the value of a banknote. One system works on points in grading, starting with 100 for an uncirculated banknote, then deducts 5 points for a crease to a tear etc. There are guidelines that are presently used, which have been found to be satisfactory, however as is often the case, there is more than one standard guideline. The grade or condition of a banknote is a matter of opinion more than an exact science.
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