The major point of this section is that one cannot lower the overall grade of a note with defects simply because of the defects. The price will reflect the lowered worth of a defective note, but the description must always include the specific defects. It has nothing at all to do with whether or not an issuer has actually released the note to circulation. Highlights or defects in color, centering and the like may be included in the description but the fact that a note is or is not in uncirculated condition should not be a disputable point. UNC A perfectly preserved note, never mishandled by the issuing authority, a bank teller, the public or a collector.
Paper is clean and firm, without discoloration.
Corners are sharp and square, without any evidence of rounding. An uncirculated note will have its original, natural sheen. Also French-printed notes usually have a slight ripple in the paper. Many collectors and dealers refer to such notes as AU-UNC . May show very slight evidence of bank counting folds at a corner or one light fold through the center, but not both.