The "70" grade is essentially a perfect note. The note will be entirely original, with broad, perfectly even margins on all four sides, sharp corners, bright colors, outstanding eye appeal, and literally perfect paper quality with no trace of even the smallest fault. Perhaps only the most modern notes will attain this grade, and even then it will be a rare occurrence.

A "68" is basically as nice and as close to perfection as a "69", but a minor fault may be present, including a tiny handling mark, an edge bump, or a very small counting crinkle. Otherwise, a "68" will be flawless, with excellent centering, bold colors, excellent eye appeal, and full originality. Despite the mention here of trivial flaws, one should remember that a "68" is an essentially perfect note. It is the highest grade that can reasonably be expected for many series, including most large size type notes.

This grade level signifies a note that is superior to an "average" Gem note, but that can’t quite reach the Superb level because of some minor fault such as a counting crinkle, handling mark, or corner bump. A "66" may have terrific centering but just not the broad margins of a Superb grade, or it may be a broadly margined example that is just a tiny bit off center. A "66" should retain full originality, although the embossing may not be quite as strong as on a Superb Gem. The colors and eye appeal should still be well above average.

"64" is an intermediate grade reserved for notes that are better than Choice New but that don’t quite reach the Gem grade. Such notes may have minor faults such as a couple of unobtrusive counting marks, ink or handling smudges, a single pinhole, or a rounded corner tip. The centering or margins will be better than average but may fall just short of that required for the Gem grade. It will still be an above average note, should have good eye appeal, and should not have any major blemishes or faults that are readily evident. A note at this grade level that receives the "PPQ" designation will likely have margins or centering that are slightly narrow or off center, but will possess complete originality.

A note at this grade level will remain fully New with no folds or bends, but a couple of corner folds that do not reach into the design may be present. Counting crinkles and handling marks are acceptable, as long as they are not overly distracting. A partial bend or pinch that does not extend through the entire width of the note may cause it to be designated a "62" or lower. A note with severe centering problems may fall into this grade, as may notes with flat paper surfaces or minor paper toning.

A "60" note will remain strictly uncirculated with absolutely no folds or bends that extend into the design. Notes at this grade level typically will have one or more significant faults that detract from the note’s appearance, such as slight loss of color, paper toning, minor foxing, two or more corner folds, flat and lifeless paper, pinholes, or a small staining spot or two. Any note with a major problem will be placed into a PCGS Currency "Apparent" grade holder with the problem described. A note in this grade will be generally unattractive, although it will technically be New or "uncirculated".

A note in this grade will appear New at first glance, but will have a bent corner or light vertical center fold that will keep it from an uncirculated grade. Two light vertical bends are acceptable for this grade, as long as the surface of the paper is not broken. More than one light fold or a heavy fold or crease will drop the note into a lower grade.

An About New 50 note will display one or more light folds that are not heavy in nature or that do not detract from the overall appearance, two or three very light vertical bends if they do not break the surface of the paper, or one heavy fold or crease. Two heavy folds or creases will drop the note to a lower grade level.

The old standard of "three folds makes an XF" is applicable here, as typically a thrice-folded note does indeed usually grade "40". Common sense exceptions must be made, however, as three folds that are exceptionally heavy may drop the note into a lower grade category. Notes with three folds and a couple of other minor light bends or folds may occasionally make it to the "40" grade if the extra folds are light enough and are not obtrusive to the overall appearance. A typical XF note may have a couple of pinholes, but any larger holes would prevent a note from reaching this grade.

One or two extra folds on an otherwise Extremely Fine note would lower an example to this grade level. The paper should remain nearly fully bright, and it should retain strong crispness. A "30" will retain good color and eye appeal and should have no more than a few scattered pinholes.

A Very Fine 20 note should have plenty of body remaining in the paper, although numerous folds, wrinkles, or other signs of circulation may be present. Mild soiling might be apparent, but it should not be serious. The paper should remain relatively bright. No tears, stains, or other impairments should be readily apparent, and the note should still have nice eye appeal. Several minor pinholes may be visible when the note is held to a light. The corners may be slightly frayed or slightly rounded at this grade, but the paper should retain nearly full crispness and there should be little or no loss of color in the design.

A note in this grade will resemble most notes that have spent considerable time in circulation. The piece will have lost some of its body, but the paper will still be solid. (A limp note will classify at a lower level.) The corners may be slightly frayed or rounded, and the edges may also be frayed. Pinholes may be readily apparent, but none should be large or obtrusive. A few minor edge splits are not uncommon in this grade, but they typically will be within the margin and not affect the design. No major stains or tears may be present, although a stray pencil marking or light teller stamp will not affect the grade at this level if it is not dark or obtrusive.

At this grade, a note will be heavily worn with slightly rounded corners, frayed edges, or slightly rough margins. The paper will be intact, however, and no pieces may be missing other than an occasional corner tip. A few edge splits may be apparent, although they must not be severe. The note will be limp or soiled from circulation, and some wallet staining may be visible. No major damage is acceptable at this grade level, however, and any note that has a large hole, stain, tear, or missing piece must fall into a lower grade category.

A "Good" note is actually not all that good, as it will be basically intact but fully limp and lacking in any color, snap, or eye appeal. The colors will have typically faded, and there may be small edge chips, nicks, margin tears, or other problems. Any note with major problems will either fall into an even lower grade or will be given an "Apparent" grade with the problems noted.

A note in this grade should be mostly intact, but large pieces may be missing including some in meaningful portions of the design. Holes, stains, tears, splits, and other problems will likely be present.