Posted 12/19/2017 12:03 pm
They are graded as any other note would be, then the appropriate descriptors are added : 'Staple holes at issue', 'Minor Rust', 'Pinholes at left', etc.
The exception to grading is the 'supergrades', UNC 65 and higher. I think you can get an UNC 64 out of a perfect note if it has a pinhole or staple hole, but no higher. Might be wrong on that, but I've not seen anything with damage grading above a low UNC.
Valuations are all over the board, a rare and classic note with a pinhole will fetch full value, while a modern note with same will not. It used to be customary to pin notes to a board for sale, but this practice is no more, and has been gone for decades.
Indian notes were issued in stapled packs. As a result, there are two staple holes in every note. Notes without a tear or pull at one or both of the holes are preferred, and a lack of rust around the holes is desirable. The presence of the holes, however, does not alter an UNC grade at all.
The exception to grading is the 'supergrades', UNC 65 and higher. I think you can get an UNC 64 out of a perfect note if it has a pinhole or staple hole, but no higher. Might be wrong on that, but I've not seen anything with damage grading above a low UNC.
Valuations are all over the board, a rare and classic note with a pinhole will fetch full value, while a modern note with same will not. It used to be customary to pin notes to a board for sale, but this practice is no more, and has been gone for decades.
Indian notes were issued in stapled packs. As a result, there are two staple holes in every note. Notes without a tear or pull at one or both of the holes are preferred, and a lack of rust around the holes is desirable. The presence of the holes, however, does not alter an UNC grade at all.
