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having the ability to closely examine and feel the note due to it being sealed inside the slab, many collectors are not comfortable accepting the opinion of others as to the grade and may either elect not to purchase the note or to cut it out of the slab for examination. Additionally, many noted mistakes in grading by third party grading services have been discovered. However, for collectors less adept at grading, purchasing a note in a slab can provide some additional comfort for the owner in justifying the purchase and cost. It also serves to help protect the collector against unethical activities designed to increase the worth of the note by pressing out folds, washing, repairing tears, or other alterations typically viewed as unacceptable thereby lowering the value of the item.
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Bank notes below VF are usually considered undesirable in a collection, and are generally purchased where better-quality examples are either unavailable due to their scarcity or simply beyond the collector's budget. Common notes in such poor condition, however, are effectively unsaleable for anything
785:
Most collectors will always prefer an
Uncirculated note, and these notes command substantial premiums over lower grades. A note in UNC condition is generally worth up to ten times more in this condition compared with merely VG (Very Good). An UNC note can be worth three times as much as a VF one. For
719:
An important aspect of collecting banknotes is the condition of items. Banknotes in perfect condition (without any damage), that usually haven't circulated are rated as uncirculated (UNC) and that is the highest classification for a value that a banknote can have. In addition to that, the value for a
698:
In 1961, The
International Bank Note Society, (IBNS), was formed as an international association of banknote collectors. Nowadays it has thousands of members from around the world. The IBNS publishes the quarterly IBNS Journal, holds regular mail bid auctions, and promotes lectures at congresses.
805:
Following examination, TPG companies typically encapsulate the currency in what is commonly referred to as a "slab." Similar to the issues surrounding the transition that occurred within the coin collecting field many years ago, controversy exists about the need or value of TPG notes. Without
713:, now a three-volume set which consists of thousands of pages of almost the entire collection of the world paper money that has ever existed and is updated annually. Almost every note of every country and many special and regional issues are cataloged following a unique format for each entry: P
801:
companies (TPG) offer the service of authentication, grading and cataloging of common varieties of paper currency. These TPGs typically use a seventy-point grading scale to describe the note. Additional notations may be made for exceptional paper quality or other varieties.
770:
Gem
Uncirculated or Gem Crisp Uncirculated - A perfect note, not just in original condition, but with large equally balanced margins, outstanding colour. Thus such a note is not just as originally printed, but was also printed well in the first
728:
Banknotes are usually graded on a descriptive scale of grades. These grades vary somewhat internationally, and as time goes on more grades have been added. The grades specified by the
International Bank Note Society are as follows:
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for as long as it has been in use. While people began collecting paper currency more systematically in the 1940s, the turning point occurred in the 1970s when notaphily was established as a separate area by collectors.
746:
Fine (F) - Paper is now slightly soft, considerable wear due to folds from use in circulation. Minor tears to note, not extending into the design. Clear but not bright in appearance. Staple holes but not holes due to
706:
who published some of the earliest catalogues of paper money and through them explained the objective of collecting paper money and the definition of it. Albert Pick is also the author of the capital part of the
742:
Very Fine (VF) - Note still attractive, but possible slight dirt or smudging, may have several horizontal and/or vertical folds. Paper remains relatively crisp. No tears, but slight wear to edges and corners is
680:, in a successful attempt to formalise and encourage interest in the area. The term 'philanoty' had been considered, but 'notaphily' was preferred because of its assonance with the familiar 'philately'.
781:
Uncirculated/Crisp
Uncirculated - Still not folded or creased, but suffering from any of: slight fading, yellowing, foxing, very off-center margins, corner folds only in the blank area (not the design)
736:
About uncirculated (AU) - a banknote that is still bright but has trivial handling damage, i.e. a light center fold (not a crease, which is a break of the fibres of the paper), without rounded corners.
786:
notes seldom found in uncirculated condition, the premium may be even higher. The difference between Gem
Uncirculated and Uncirculated can also be substantial. As a result, buyers are at risk of
750:
Very Good (VG) - Much wear. Paper is limp. Tears can extend into the design. Staining possible. Discoloration possible. Hole at center caused by folding allowable. Note still looks presentable.
763:
In addition to these grades, it is common to indicate an in-between grade, such as AU-UNC, which is a note that falls between AU and UNC, (e.g., a note with a noticeable counting fold).
989:
759:
Poor - Severe damage due to wear, staining, missing pieces, graffiti and/or holes. May be taped together, have pieces missing. The worst possible condition.
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739:
Extremely fine (XF or EF) - a banknote with one crease or up to three light folds. Paper still bright and attractive, very slight wear to corners allowed.
733:
Uncirculated (UNC) - refers to a banknote that is bright and has no handling damage, such as folds or creases, nor any cuts, stains, or rounded corners
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790:, in that a dealer failing to notice a fold in an AU note and passing it off as UNC will undoubtedly feel justified in charging a higher price.
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The term was coined in 1970 by Robert
Stanley, a linguist then employed as Public Relations Manager of the collectors and investments firm
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The vast majority of banknotes are sold using the
Uncirculated–Poor grading system, and are never graded with any third party.
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began publishing their respective national catalogues of paper money, which represented major points of reference literature.
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Shishanov V. The
Assignats of 1802-1803 // Journal of the Russian numismatic society. 1999. №68. P.58-69.
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Good (G) - Very much wear, as VG, but more so. Graffiti on note. Small pieces of the note may be missing
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Replacement or star notes commonly used to replace errors discovered during the printing process.
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Fair - Larger pieces of note torn off/missing, compared with G. Less of the note intact.
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Certain vendors and auctioneers break the UNC grade down further, into three grades:
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never issued their own banknotes, however, they did issue their own postal orders.
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Choice
Uncirculated/Crisp Choice Uncirculated - Just less than perfect, tiny
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specific note in the world paper money catalog is listed for UNC condition.
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as well as postal orders. These have become collectible in recent years.
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is a collector of banknotes or paper money, particularly as a hobby.
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The following note would thus be cataloged as "Yugoslavia P-87."
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above their face value (assuming they are still legal tender).
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940:, the study and collection of stock and bond certificates.
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collecting has become a branch of notaphily, especially in
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At the same time, some developed countries such as the
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894:Varieties caused by major or minor design changes
981:but its sources remain unclear because it lacks
668:It is believed that people have been collecting
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864:Topic (wildlife, ships, famous people, dance)
702:The major contributor to this study has been
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8:
1252:VAM (Morgan and Peace dollar die varieties)
72:. Unsourced material may be challenged and
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1085:Professional Currency Dealers Association
1070:Atlantic Provinces Numismatic Association
1012:Learn how and when to remove this message
824:since the 1980s. Some countries, such as
136:Learn how and when to remove this message
1378:International Coin Certification Service
944:The Postal Order Society (Great Britain)
888:Serial number (ascending and descending)
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876:Substrate (paper or polymer or hybrid)
873:Country (native, favourite or unusual)
724:Authentication, grading and cataloging
1434:Standard Catalog of World Paper Money
1030:Notaphily of the European collector;
710:Standard Catalog of World Paper Money
648:is the study and collection of paper
7:
70:adding citations to reliable sources
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1388:Professional Coin Grading Service
1097:Society of Paper Money Collectors
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1486:Coin shows in the United States
1429:Replacement banknote (star note)
1373:Certified Acceptance Corporation
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1080:International Bank Note Society
860:People collect paper money by:
830:British Somaliland Protectorate
1032:https://notafilie.estranky.cz/
900:Errors in the printing process
1:
1460:List of metal detecting finds
1470:List of most expensive coins
1075:Canadian Paper Money Society
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1292:Sheldon coin grading scale
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1051:First Ukrainian Banknotes
967:This article includes a
1450:List of coin collectors
1414:Greenback (1860s money)
1056:World banknotes catalog
996:more precise citations.
813:Postal order collecting
513:Commemorative banknotes
27:Study of paper currency
1508:Numismatics portal
1287:Paper currency grading
850:Old Age Pension Orders
594:Numismatics portal
232:Circulating currencies
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324:Historical currencies
165:the study of currency
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933:Paper money catalogs
295:Fictional currencies
66:improve this article
1424:Paper money catalog
1297:Third-party grading
1177:Coin counterfeiting
799:third party grading
482:Commemorative coins
393:Medieval currencies
302:Proposed currencies
34:Notaphily banknotes
1455:List of currencies
1197:Commemorative coin
1187:Coin rolling scams
1090:2022-05-16 at the
969:list of references
925:Numismatics portal
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1182:Coin roll hunting
1157:Circulation issue
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1359:Coin grading
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1338:Coin storage
1328:Coin counter
1323:Coin catalog
1318:Coin capsule
1277:Coin grading
1008:
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988:Please help
980:
882:Denomination
859:
848:also issued
818:Postal order
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64:Please help
52:
1537:Numismatics
1397:Paper money
1333:Coin folder
1237:Seigniorage
1227:Numismatics
1140:Numismatics
1043:Information
994:introducing
938:Scripophily
868:Time period
856:Specialties
842:Isle of Man
704:Albert Pick
670:paper money
658:notaphilist
561:Scripophily
161:Numismatics
126:August 2014
85:"Notaphily"
18:Notaphilist
1531:Categories
1409:Fiat money
1313:Coin board
1242:Token coin
950:References
903:Signatures
826:Basutoland
743:allowable.
463:Collection
406:Production
336:Achaemenid
96:newspapers
1547:Banknotes
1419:Notaphily
1361:companies
1282:Coin slab
1002:June 2024
654:banknotes
646:Notaphily
508:Banknotes
501:Notaphily
435:Hammering
418:Designers
341:Byzantine
208:Banknotes
53:does not
1404:Banknote
1306:Supplies
1217:Key date
1207:Exonumia
1192:Coin set
1088:Archived
911:See also
879:Currency
797:Various
747:folding.
650:currency
520:Exonumia
371:Japanese
351:Filipino
331:Aksumite
195:Currency
183:Glossary
153:a series
151:Part of
1270:Grading
990:improve
906:Colours
885:Printer
822:England
689:Germany
664:History
549:Cheques
494:Grading
428:Milling
423:Coining
386:Tibetan
366:Italian
346:Chinese
264:Oceania
213:Forgery
110:scholar
74:removed
59:sources
1247:Toning
844:, and
840:, the
832:, and
828:, the
776:foxing
771:place.
693:France
652:, and
568:Stocks
554:Scrips
544:Tokens
537:Medals
532:Jetons
450:Errors
445:Metals
361:Indian
249:Europe
239:Africa
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1479:Shows
1443:Lists
1368:ANACS
1352:Other
975:, or
891:Grade
573:Bonds
477:Coins
376:Roman
356:Greek
203:Coins
117:JSTOR
103:books
1162:Coin
691:and
656:. A
440:Cast
413:Mint
381:Thai
283:LETS
244:Asia
220:List
89:news
57:any
55:cite
225:ISO
68:by
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