Quote:
Originally Posted by pavulon
I won't claim to be any authority on it but it is my understanding that if a bank folded, its notes were worthless. Perhaps those notes were different than those pictured above.
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I am happy to respond to your question in a mature responsible way. I hope you can appreciate that.
There is a grading system which has been established. So each banknote being unique will have its own grade depending on its exposure to circulation if any at all.
As a side note depending on rarity grade affects value only slightly. If it's a common banknote grade means everything.