Collector’s Corner: Grading bills

By Medicine Hat News on May 26, 2018.

In the last column I wrote I went over grading coins, and this time I’ll move to grading bills. The Canadian Standard Catalogue of Canadian Government Paper Money is an excellent book as a reference and can be picked up at your coin dealers or at your local coin club. The grading system at the front of the book may be easier than coins as it pertains to all bills, where the coins very slightly between years.

There are several factors that come into play including colour, creases, holes and edge condition. To determine a fold or crease hold the note close to a light source and look across its surface down its length. Tilt the note so the light just skims across the surface of the note, bringing out the shadows from the embossing. Slowly rotate the note, and any blemishes, even remnants of pressed out creases will show up. Pressing of a note is a bad thing to do and degrades the note terribly and turns this into a face value note. A five-times magnifier will be able to pick up the missing ink of folds that have been pressed out. Edge condition, even the corners will show the slightest signs of circulation. A clean sharp edge is more likely to be an uncirculated note. Even though it has a shape edge it may still have a slight fold or crease which would bring this note from uncirculated to AU condition. Uncirculated notes are graded by demerit points consisting of: Counting creases and broken fibres; edge bump; paper toning; counting flick; and soft corners. Each one of these items is a demerit against that bill.

Following is a brief description of how a bill could be graded.

1) AU bill may have several counting flicks, or one light centre fold but not both. 2) EF bill will have heavy counting creases, or one centre crease with broken fibres, or two light folds may be present, but no combination of these. The note must still have sharp edges. 3) VF bill will have evidence of wear along the edges and corners will not be rounded. The note may have up to four creases or folds but no design lost in the creases. 4) F bill have four or more heavy creases or folds with broken fibres, along with other minor folds. The bill will have some crispness left. 5) VG bill will have no crispness remaining, soiling will be present, edges and corners will be worn, and tiny nicks and tears may also be present. No pieces are missing from note. 6) G bill may be soiled and dark looking, no white along edges, no large portion of bill should be missing, the bill will be limp and lifeless looking.

I strongly recommend you leave your notes as they are, and don’t try and clean your notes. Almost always it will cause further damage and an experienced collector will be able to detect it.

Even though your bill may be well worn, it may be worth while to have your bill looked at before you take it to the bank in exchange for face value. The banks do not know if these bills are valuable. You may have a bill that contains possible radar note, Devil’s Face, or any number of rare identities, giving you more value. In most cases if the bill is not that bad of shape it still may be worth 10 per cent over face value.

Collector’s Corner is contributed by the Medicine Hat Coin & Stamp Club. For questions or comments about coin or stamp collection emailmedhatcsc@live.com We are always welcoming new members.

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