What is a "light tone" UNC banknote definition, andhow would you grade this one?

I bought this banknote described as “light tone UNC” but cannot put my head around what this means exactly and whether the rust marks at the bottom are acceptable and the note can still qualify as UNC. Any thoughts please?

For me that amount of foxing would mean I send the note back unless they clearly advertised it as having foxing in the auction description.

For me “a light tone” description means that somebody sent the note back (due to toning) & I tend to avoid these. 

To the seller it's “light tone” because he tried to pass if off as UNC (which it isn't) but to most buyers this note will be “dark” or very obvious toning which the seller missed.  So it depends on the note & what it means to you in obtaining that example. Is it super tough? Is it easy? I got easy notes that were toned & tried to send them back. Instead I was offered a discount on my next purchase (which was refused once I tried to cash in on this discount) so anything toned leaves a bad impression (for me). But each to his own.

However, having said that for regular notes, if the note is a tough example & you just need any example in better condition (& the price is important/takes into account of the discolouration) than go for it! Every buy depends on so many circumstances, it is virtually impossible for us to advise….

Also: beware of notes described as UNC with pen marks (this means it is not UNC) and all the other so-called UNC, with issues…um, NO, it it has issues, its not UNC. Be sure you're not buying at UNC pricing.

I would not consider the description as just having light tone.

I had a look at the prices of those notes in UNC. It seems you cannot find any for offer under £100, so that is an expensive note. That applies to the P#33 and the P#33b (which is yours)

I'm willing to bet that if you look at that note under UV you'll find other areas of foxing that show up as black dots. It reminds me of a Canada $100 I had problems with earlier in the year.

Because that is a high value note, I would be sending that straight back.

Thank you guys for such detailed answers, super helpful as always!

Unfortunately, I may not be able to return this note as I bought it in March but noticed toning/foxing only now, ebay return window is closed and the seller is yet to respond…but this was my bad anyway…

If you were to sell it how much of a discount would you apply relative to a “clear” UNC one? 

Could it be that the foxing started or became more obvious after you have bought it? I am sure you would have spotted that stain like mark if that was already there when you received the note. If this is the case, then you may have an issue with the way you store your notes.

M

no, it’s not the the case. I just had a lot of freshly purchased notes delivered at the time and did not pay attention to the rust mark.

And this does not help to address my main question here - by how much rust marks as on the images above reduce the value of a note?

I am sorry to hear that. I was given a Tonga 1 pa'anga note many years ago, and I believe the note was in perfect condition. A few years later, when I took it out and had a look, I can see yellowish tones popping out on the outer white margin of the note. It's disappointing. I hate foxing, as once it started, you can't do anything about it. I am aware that some dishonest letter would have it washed and pressed to remove it but that would basically make the value of the note much worse. 

Better luck next time.

‘Light tone’ is a nonsense term. It doesn't mean anything unless it is compared to something else.

A note described as ‘light tone’ with foxing would suggest to me that the note is brighter than it should be, that someone washed the note in an attempt to remove the foxing. 

The foxing should be mentioned in the description in addition to the grading.

In my experience, foxing does not get worse if a note is stored properly away from moist conditions. It cannot be removed without chemical intervention.

I do not believe there is such a fixed answer to your question. This is all depending on a willing seller and buyer. I, personally, would not buy them as I know that I will keep looking for one in perfect condition. With such visible flaws (foxing and rusty marks) on your note, I would say you may have to reduce the value/price between 30-40%, unless you have a very rare note. I am just guessing here as other members here may not be agreeing with me on this. I do not collect based on what it's worth but rather more on my enjoyment. 

BTW, a UK seller blocked me from buying a 1974 Falkland Islands note two days ago after I asked him if the note is truly in UNC condition with no foxing or any visible flaws. He was not too happy with my question and blocked me from buying. I would have won the item if I was allowed to bid. Well, not my loss.

P/s... I just read the last message posted and I would 100% disagree with that message. You will never find me buying one with foxing on it.

UNC (60)"Original" = a general uncirculated note but you will often see minor signs of handling. No issues & original. Design or production flaws usually present (off-centred, extra ink, serials, etc off slightly) & registration off.

Choice UNC (62-64) EPQ = an uncirculated note with no design/production flaws, very crisp original paper, bright colour & very minor signs of handling. “63” usually shows uneven borders or designed shifted/poor registration 

Gem UNC (65-70) EPQ = All of CU plus: no handling, perfect edges/corners, with no design/production flaws, although 65 & 67's may show slight registration shifting

Any other word that goes before UNC (besides Choice or Gem) is Almost UNC, like toning UNC, ink but UNC, pinhole but UNC, etc. Why? Because the note is NO longer original. This is an issue.  Most issues drop the note a grade & note will not get an EPQ, nor “Original” designation(s). The only exception* I can think of is “pressed*” UNC which can get UNC 64 without the Q designation. I know it may sound ridiculous but some people actually pressed perfectly UNC notes! (And the pressing can go from severe to "lightly pressed" which is another topic). If a pressed note never circulated, they won't drop it down a grade level.

Light toning is usually code for “darkened by light exposure” or age (as far I know). The note posted is not old enough to be "darkened by age" so light damage. Foxing &/or Rust are caused by moisture (iron/moisture) & are also considered “damage” to the original paper quality.  Damage such as any of the above issues also deducts a note 1 entire grade level.  So if the note is darkened like the OP note it should make it AU pricing.  If its AU, plus another issue, such as rust (or foxing) then that would suggest another drop in grade level (from AU to EF+).  I know it may sound drastic but that was the original intent of grading (to be as precise as possible).    And EF+ part is the pricing level of note with 2 problems.  You can still call the note “AU” but be sure to include “with ____ or foxing” (rust) or whatever the issue is. 

That is how skilled Third Party Graders would approach grade assessment.  That is why a lot of collectors who submit notes for grading get disillusioned since they thought their note was perfect (but it comes back AU 58). Submissions usually get the @odd job loupe treatment with lightbox & infrared exposure, (etc) to detect issues.

Anyway, that is the way it was explained to me (& a group of enthusiasts) at RCNA workshop on “Grading,” hosted by BCS (a noted conservative grader, Steve Bell).

*Pressed wasn't considered severe enough damage to really be an “issue” but still a method to alter the paper quality & thus- loss of Q status.

odd job

I had a look at the prices of those notes in UNC. It seems you cannot find any for offer under £100, so that is an expensive note. That applies to the P#33 and the P#33b (which is yours)

I'm willing to bet that if you look at that note under UV you'll find other areas of foxing that show up as black dots. It reminds me of a Canada $100 I had problems with earlier in the year.

Because that is a high value note, I would be sending that straight back.

Visited a local dealer here yesterday and saw this note, but dated 2004 and asking for A$285 (£137). You will pay this price if you say nothing. If you ask for a better deal, the dealer will give you 15% off (£116) straight. I just do not understand why they do that. 

I do not have this note, but might go back and check it out again in a week or two. It's listed as UNC too.