I'd call it Fine (comments on back) referencing the tear in the top margin. It's something you'd see in a dealer's Junk Box if you were at a coin/currency show.
This note would have lost almost all of it's buying power relative to 1928 prices. If it had been kept in it's original CFU** condition from 1928 until now the owner may have broken even if sold in CFU** condition now.
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