It is difficult to see all the possible flaws in this note on a small scan, but based on what is visible, this
note would grade AU (About Uncirculated) at best but more likely EF (Extra Fine).
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Arthur Richards
Contributor, Charlton Catalogue of Canadian Government Paper Money, 19th, 20th, 21st, 22nd and 29th Edition
Pricing Panel Member, Charlton Catalogue of Canadian Government Paper Money, 21st Edition 2009