1917 $1 Dominion Of Canada Note

http://coinsandcanada.com/banknotes-grading.php
John1

I could not grade it higher than F12 because it has "four or more heavy creases or folds with broken paper fibres, with additional minor folds."* Although it has strong eye appeal I could not give it a true Fine grade (F15) because the design (Princess Patricia) is worn off completely in the central vertical crease. In addition, noticeable soiling (or staining) is present as are rounded corners and edge wear.

* Charlton 30th Ed (p xxiv)

I am at F-12 on this note....

V-8? Is that a drink?

IMO:
Although it is a stretch to "guestimate" the approximate grade of any note from a scan, rather than inspect it in person, I doubt this is a VG note because it doesn't appear to have the hallmarks of a VG note. The first clue is that a VG should have "evidence of heavy circulation, with little or no paper crispness remaining." Now, I would hazard a guess that this note is limp in the middle (from the folding) but fairly firm on outer L & R border portions (around counters) . A fine note shows "considerable wear" as does the one in this thread. I find the # of edge nicks/tears also a good indicator: this F note shows only a few at the heavy creases. (VG: "nicks and tears may extend into the design.")
The second feature of a VG note (which I don't see in this one) is "considerable soiling, with some loss of colour hues and vibrancy; some design loss on the creases." Tiny specks of dirt on the top right corner on the reverse and slight staining does not mean "considerable soiling." The design loss on the front central vertical crease doesn't match the loss on the reverse and is much more consistent with a F grade (design is not missing across the entire note/is incomplete) than a VG (which you'll see). I doubt there are pinholes (which VG have).
The most telling feature of a "Fine" grade, besides crispness, (versus a "Very Good" grade) is that the colour looks fairly decent throughout. The green "ONE" markers, reddish serial numbers & green reverse design show only minor fading (where worn).

(All quoted references to grading are from Charlton 30th Ed p. xxiv)

- I know you're right: in low grades- there really is a slim difference by only a few points. Maybe I was "splitting hairs" over this (it did cross my mind while writing the post). A BCS VG-10 or a PMG F12? (that's a topic for another thread). As I mentioned in my post- when judging an image of a note (rather than being there in person to feel it) its a "guesstimate" at best. The price gap between these two grades for the G series of DC-23a is only $35.00 so nothing to lose sleep over (& yes, its not a note that will attract a premium )

I suppose I wrote the rebuttal simply because this is a forum- which in its purest form - should be a platform where we can freely exchange thoughts on topics. I'm relieved to see that you appreciated my weak attempt at humour.

The other reason (I defended the "Fine" grade) was because too often I've seen dealers and collectors haggle over grades (over the years) and when it comes to a note's grade it can mean a lot of money after all. For less common varieties of the 1917 "lady Patricia" the difference could be $65 (not to mention the difference in price from F to VF and as the grade increases! And who doesn't see notes over graded on auction sites? Knowledge (of grades) is essential to most collectors. When it comes to rarer notes (like the DC-21 1912 five) the difference between VG & F is hundreds of dollars.

I know many coin collectors who just dabble and want to buy a lower grade note (rather than the higher ones a paper money collector may prefer). It would be very gratifying for me to know that they picked something out of this thread (& didn't feel burned after a purchase).

I understand its a learning curve (grading a note accurately) and I've been working hard at getting myself around that curve too.