We are using the SCWPM (Pick) catalogue, Modern issues, 21th Edition to reference the banknotes.
Why we dont sell graded notes
We don’t sell graded banknotes. It is not that we don’t believe in grading houses or their grading, but we prefer to give collectors the choice whether they want to spend the money to have their notes graded.
Third party grading service has helped advance banknotes as an investible asset, but grading isn’t always necessary in our view. It is a wonderful asset when the ocassion calls for it, e.g. an old currency that tends to be repaired or washed to make it look better so as to fetch a higher price. For these types of banknotes, new or novice collectors may not be comfortable buying raw notes and graded notes may give them the assurance of a quality purchase.
Most modern issues can be found in uncirculated condition. Hence a collector who keeps the note instead of resale may not find it relevant to grade his notes. He can still send the note for grading when he decides to sell his collection or to pass to his estate beneficiaries who would then know the worth of his collection.
IBNS grading standards
Please see International Banknote Society (“IBNS”) grading standards for note in uncirculated to good condition for reference. We tend not to acquire notes of poor or fair grade and hence have not included these grades.
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. Will have its original natural sheen.
About Ucirculated (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 is a hard fold which has usually “broken” the surface of a note. Paper is clean and bright with original sheen. No rounded corners.
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.
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. You may find a staple hole or two 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. It is common to find grafitti but no big missing pieces.