1935 $25 French Bill

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The banknote is strong but has two stains on the top that also goes to the back on the note.  Discoloration on both sides especially in the front.  Minor scratches at the bottom middle edge.  The design and writing is very clear.  The back is better color then the front.  The small stain you see in the front are at the same spot at the back of the note  Has been graded has fine 12 by PMG but is it really?  or lower grade?

Forgot the pics here they are


[edit]Converted HUGE images to thumbnails. --BWJM[/edit]

Looks to be like a VG+ to Fine.

Charles Moore graded it Good/VG in his Feb. 2002 Torex auction.  (It sold for $825).  The note may have been "enhanced" since??

Charles Moore graded it Good/VG in his Feb. 2002 Torex auction.  (It sold for $825).  The note may have been "enhanced" since??

That's quite possible.
Then again since the note is all there in other words, i don't see any tape job or missing corners i think that its better than G and perhaps slightly better then a VG. But without actually seeing and touching in person its really hard to actually give a correct grade.
Overall its still a great looking note! 

I don't care how rare it is, that's one UGLY note.  It looks like someone tried to wash the stains out of it and only succeeded in making the colour in the rest of the note fade considerably.  I'm sure Bob's information is accurate, in which case I agree with the previous assessed grade as a net grade.  The note is all there, but that's not saying much.  The ugliness will lop off a considerable amount from catalogue value.  The technical grade is almost meaningless when considering all the note's negative attributes.

 I don't think it's that UGLY at all. I'd say VG.

Thread close thank you