> "does a small tear really bring the note down a level?
I was trying to follow the charlton guide on grading, it would be a EF, but then again that tear.."
Hi again! tears and pinholes are frowned upon to many collectors and yes I believe it would bring the grade down a level and in most cases eliminate many buyers myself included. With that said I see you have adjust your grade from high VF up to EF, if this is true then it would be of a higher value also as I was quoting on your original grading. I believe mmars estimate to be realistic at this higher grade and he's very knowledgeable of the current market demands and prices. Certainly not all note with the same technical grade have the same eye appeal that's why if your looking at five different EF notes you choose one over the others.... IMHO!!!