Belgian Association for Scripophily
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-> Definitions, conventions and miscellaneous

The international evaluation system of the conservation state of an old paper makes 6 different classifications : UNC, EF, VF, F, VG and G.

The evaluation is made only on the state of the bond or share itself excluding its coupons. So coupons are not taken into account for the determination of the conservation state.

You will below a short descripiton of each category. Intermediate categories can be defined by adding a + or -, or writing the 2 qualities separated by a -. In this optic : VF+ , EF- and VF-EF are similar.

UNC : UNCirculated
EF : Extremely Fine
Corresponds to the best conservation state. Same quality as a paper coming out of the press. No tears, fold or dirt on it.
Corresponds to a slighty used condition, one or 2 small folds. No tears along the borders and no dirt.
VF : Very Fine
F : Fine
Corresponds to a used condition : several folds, some small tears along the borders but no piece of paper missing.
Corresponds to a slightly damaged paper : in addition to the VF shortages, one or several small pieces of paper could be missing : along the borders or at the corners.
VG : Very Good
G : Good
Corresponds to a damaged condition. The shortages of a F paper are in this case more pronounced : bigger pieces missing and/or heavily soiled.
Corresponds to a heavily damaged paper with most of the time a big part missing.
Action en état F de la S.A.B.C.A.
On the left : share in a F condition. taches on the top right border, big fold in the middle,several tears and pieces of paper missing along the borders.

On the right : bond in a VG condition. Has in addition to the hereabove description a big fold in the centre with bigger pieces of paper missing.
Emprunt russe en état VG

Annotations commonly used:

h.c. : Hole Cancelled

p.c. : Pen Cancelled : usually "cancelled" written in big letters

pi.h. : Pin Holes : usually on top left corner

pu.h. : Punch Holes : 2 puncher's holes usually on the left border

s.c. : Stamp Cancelled

st.c. : Strip Cancelled

s.o.f. : Stamp On Face : only one (usually big) stamp on face

ss.o.f. : StampS On Face : several stamps on face