Those that wish to become currency collectors must familiarize themselves with all the currency grades. These standards have been established to simplify the process of evaluating paper notes and facilitating transactions between collectors around the world.

Currency Grades And Their Meaning

• Good: This is a note that has been circulated heavily and displays clear signs of being handled. It might have some soiling with significant wear, and the corners might be missing.
• Fine: The bill has been well circulated and has folds, creases and wrinkles. The edges may be slightly worn and there could be small tears. These bills sometimes have slight color loss or small stains.
• Very Good: This is a well circulated bill that has a few folds, creases and wrinkles. It might be a bit dirty with a limp or dark appearance, and the corners may be rounded or worn, with a few tears being present. However, notes which are designated very fine should never have missing pieces.
• Extra Fine: These notes have bright and clean paper with only slight evidence of handling or circulation. The note may have a few folds with one prominent crease, but is free of discoloration or tears.
• About Uncirculated: This is a note that at first glance appears to be non-circulated, but upon closer inspection shows slight signs of handling, such as moderate corner folds, light creases and bends. Slight smudges might also be present but overall the bill is bright and crisp with a classical sheen.
• Crisp Uncirculated: These are notes which haven’t been released for circulation and retain their original crispness. These are the best notes that a collector can find, and the older and rarer they are, the more valuable they will be. The paper should always be firm and free of tears, creases or folds and the corners must be square and sharp.
• Very Fine: These are circulated notes which still display their crispness. Most of them will display a few horizontal or vertical folds along with slight smudging or dirt. Although it will appear to have been handled, VF notes are always free of tears near the edges.

Star Notes

The Bureau of Engraving and Printing uses star notes to replace American currency that has been damaged or misprinted prior to entering circulation. The replacement bills will be printed similar to the standard ones, with the difference being that a small star is printed inside the serial number. For Federal Reserve notes, this star will be situated in the area where the block letter is usually found. On silver certificates and legal tender bills, the star will be located in the location where a prefix is normally found.

Star notes are very popular among collectors and depending on the bill in question they can demand a hefty sum. Looking for bills which have star notes while developing an understanding of the seven currency grades will help you come become a master collector.