Grading of Bonds

Uncirculated (U) A Bond that has never been in circulation. New and unused without any folds. It would look as though it had just been printed.
Almost Uncirculated (AU) A Bond that "U" in every area but has (only) one minor crease or smudge.
Extra Fine (EF) A Bond that is nearly uncirculated but will have a few LIGHT folds and possibly some minor smudges.
Very Fine (VF) A Bond that has more light folds and one or two heavier folds. These are generally clean and do not have any tears or are badly aged.
Fine (F) These bonds generally show considerable circulation and have many heavy and light folds. The bond may also have some soiling and a few nicks.
Very Good (VG) These bonds are completely limp. The bond is complete with no pieces missing but may have many small tears in the edge.
Good (G) These bonds are very worn and mostly complete. Some small pieces missing and may show signinficant aging. Soiling usually covers the entire bond.
< Good (<G) Less than Good is generally a bond that has at least one large piece out of the note and other damage but generally still presentable.

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