As with most any collectable, one of, if not the single most important aspect of a note's desirability, potential for increase in value and an indicator of it's current value is it's grade or condition. Much has been written, discussed and bantered about with regard to this subject, as most collectors desire to obtain the highest grade example of any given note as is possible; whether it be a Confederate, Obsolete or any other given note.

      The grading discrepancies which exist in the current market are broad; wherein one person's "Very Fine" may in reality only grade "Fine". You may rest assured that purchasing a note graded Very Fine which actually grades Fine is no bargain. To utilize the current Confederate note arena as an example; the above difference in assigned grade may represent hundreds or even thousands of dollars with regard to an ever growing number of issues. As more collectors enter the market; given the limited supply of many CSA issues, the temptation is strong to "nudge" a given note upward one-half or even a whole grade; as the difference in price increases. This is not to say that most dealers over grade.... such is not the case. Every dealer we know attempts to honestly and accurately describe and grade their material. "Grade inflation" is much more pronounced at various online auction sites than at an actual paper money show. Grading is not a definitive science. There will always be differences of opinion as to the proper grade a given note should be assigned; however, as one's knowledge of proper grading techniques increases, these differences diminish immensely.

     Unlike coins, wherein the major problem with grading seems to be located at the high end of the spectrum, most CSA and obsolete currency grading questions lie in the mid-grade to higher mid-grade notes, i.e. Fine+ to Extra Fine. While it may be most difficult to discern the difference in a Mint State-66 and a Mint State-67 Morgan silver dollar; it sure isn't difficult to determine if an 1861 Confederate T-5 is Choice Crisp Uncirculated or not. Many factors must be considered before assigning a grade to a particular note. Color, clarity ,cut (CSA and other early notes were cut from sheets by hand); body, crispness, paper quality...aged or toned, and overall wear to name a few. Does the note have problems? Is it stained, soiled, spotted, frayed, chinked, torn or filled with pinhloles? As the Central Government of the Confederacy passed legislation from time to time to induce redemption of various CSA issues; is the the note cancelled, thereby indicating redemption? If so, is it bank hammer cancelled (CC), punch canceled (PC), hole out cancelled (HOC), cut out cancelled (COC) or ink cancelled (IC)?

     There are a wide array of materials available to those who are interested in learning the specifics of grading. Mr. Pierre Fricke, an individual who is not unlike a young; although now regrettably deceased, Dr. Douglas Ball with regard to enthusiasm, research and "getting it right" when it comes to grading; discusses this subject at length. You will find a link to Mr. Fricke's"CSA Quotes" web site in our "Links" section and a grasp of his thoughts upon the subject of grading are most informative and highly recommended..We will not attempt to set out the specifics of grading here; although you may rest assured that the material offered here is conservatively and properly graded. One rule remains paramount-your satisfaction! If you acquire a note from us and disagree with the assigned grade; you may simply return it...no questions asked.

ABBREVATIONS USED:

            AG    (About Good)

            VG    (Very Good)

              F     (Fine)

            VF    (Very Fine)

            XF    (Extra Fine

            AU    (Almost Uncirculated)

         UNC    (Uncirculated)

           CU     (Crisp Uncirculated)

    CH CU     (Choice Crisp Uncirculated)

CANCELLATIONS:

         PC   (Punch cancelled)

     COC    (Cut out cancelled)

     HOC    (Hole out cancelled

       CC     (Cut-cancelled)

        IC       (ink or manuscript cancelled)

MISC. ABBREVATIONS:

       CT     (Contemporary Counterfeit)

     STP     (Stamp)

     OBV    (Obverse or face of the item)

     REV    (Reverse or back of the item)

       T        (Type number)

      Cr       (Criswell number)

   UNL      (Unlisted)

     R         (Rarity rating; i.e., R-10)

    R          (Rothert #'s- Arkansas)

    K          (Kraus #'s- Mississippi)

    M         (Medlar #'s- Texas)

    G         (Garland #'s- Tennessee)

   B          (Burgett #'s- Indian Territory and Oklahoma)

   W         (Whitfield #'s- Kansas)

P&W      (Parrish & Willingham)

 

 

*To return to home page-click "Shipley's Currency" at upper left.

To return to HOME PAGE- Click "Shipley's Currency" at upper left.