Definition Of An 'Uncirculated' Note?

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Author	Replies: 6 / Views: 1,743
mdpmedia Pillar of the Community United States 3546 Posts	Posted 03/10/2022 1:53 pm I read in a paperback called 'US Paper Money' that the term 'uncirculated' means: Quote: ..the word uncirculated is used in this rating guide only as a qualitative measurement of the appearance of a note. It has nothing at all to do with whether or not an issuer has actually released the note to circulation. This is a bit confusing to a novice note collector like me. Any comments? Report this Post to the Staff

lettow Pillar of the Community United States 742 Posts	Posted 03/10/2022 2:12 pm It is intended to clarify that the term "uncirculated" has to do with the physical condition of a note and not whether the note was ever circulated to the public. "Unissued" is generally used to describe notes that were not used by the public. Report this Post to the Staff
sel_69l Bedrock of the Community Australia 21786 Posts	Posted 03/10/2022 8:11 pm 'CFU' is the top grade for a banknote. "Crisp Flat Uncirculated" I think should be self explanatory. A grading descriptor for condition only, - has nothing to do if it was issued or not. I stand to be corrected, but I think Colin Narbeth originally used this term. Report this Post to the Staff
Joshu - a Pillar of the Community United States 584 Posts	Posted 03/10/2022 8:53 pm If there's no circulation whatsoever on a brand new note from the bank, I consider it to be uncirculated. If there's even the slightest bill fold or wrinkle, then it's circulated. Report this Post to the Staff
mdpmedia Pillar of the Community United States 3546 Posts	Posted 03/14/2022 5:57 pm So, would it be correct to say that the book is saying that a perfect note taken from a teller at the local bank, for example, would be considered uncirculated even though it technically circulated from the local bank to me In my briefcase? I was very hesitant to even bring up this topic since it appears that the responses are splitting hairs etc. Report this Post to the Staff
SteveInTampa Pillar of the Community United States 4637 Posts	Posted 03/15/2022 02:05 am The term Uncirculated used in a numismatic connotation refers to the note's condition and not the technical aspect of the note. If the note is acquired at a banking institution, Brick&Motar, ATM etc. even if in pristine condition, it's technically circulated. As soon as it leaves its respective Fed, it's circulated. Report this Post to the Staff
lettow Pillar of the Community United States 742 Posts	Posted 03/16/2022 2:09 pm I am not sure why you think the responses are splitting hairs. They are all saying the same thing. In regard to grading, the term means "uncirculated condition". A note that has been released for circulation and is obtained from teh grocery store, ATM or local dealer can be in "uncirculated condition". Report this Post to the Staff
	Replies: 6 / Views: 1,743

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