Uncirculated: A perfectly preserved note. The paper is
clean and crisp. Corners are sharp and square, without any evidence
of rounding. Most Confederate and obsolete currency may have uneven
margins due to having been cut from the original sheets by hand. (
there are more stringent degrees of UNC such as GEM and CHOICE
based on color brightness, margin width, eveness, and centering
that command higher prices)
AU- About Uncirculated:A perfect note with some minor handling. May show very slight evidence of bank counting folds or crinkles at a corner or one light fold through the center, but not both. Corners are not rounded.
XF- Extremely Fine:A note that has seen light handling. It may have a maximum of 3 light folds or 1 strong crease. The corners may show only the slightest evidence of rounding.
VF- Very Fine: A note with more evidence of handling and wear. The note may have a couple of folds. The paper may have minor dirt on it. The paper itself is still relatively crisp and not limp. The edges show slight wear. Corners also show wear but not full rounding.
F- Fine: A note which shows considerable circulation with many folds, creases or wrinkling. Paper is not excessively dirty but will have some limpness. Edges may show minor tears. Tears may not extend into the design. Colors or images may be faded
VG-Very Good: A well used note. Corners may have much rounding, tears if present, may extend into the design. The note may have staining and loss of color or faded images. Pinholes are common and the note is limp but no pieces of the note may be missing.
G- Good: A well worn and heavily used note. The note will exhibit normal damage from prolonged circulation consisting of some OR all of the following: holes, dirt, stains, tears, frayed edges, very faded &c.
P- Poor:This is the lowest grade that can be accorded to a note. Such a note is severely damaged with large pieces missing and showing heavy surface wear, large holes, stains and considerable discoloration.