Should I Grade This Binary

Certification doesn't add value to any note. It simply makes the note slightly more liquid (easier to sell down the road). You might call it AU but someone else may think it looks more EF. Certification only helps settle the debate on the note's grade. But the certifiers put the note up on a light box & search for the slightest flaws.

And as Steve/Coinfrog allude to, the note set aside for TPG, should be either collectible (have a minimum Book Value) or at least be something of a grade rarity (a "top pop"). Unfortunately, we see so many ordinary notes graded which miss on both accounts & leave collectors scratching their heads (asking "why was this certified?")

Assessing a note's condition was a real learning curve for me & one I floundered at for years. A note can have a tiny pen mark, dot like glue residue, or scratch & they drop the EPQ. When I started out, I thought every note I came across was a grade higher than it really was. I posted some of my "rocky road fumbles" as a collector on this thread: http://goccf.com/t/450797

I probably have graded more unqualified notes than I should have b/c I opted for bulk submissions. Nevertheless, I doubt I would certify that note.