Superb note for the collection. This was bought from a major Auction House and was graded UNC. I have looked closely at the note under the magnifying light. There is a tiny spot on the reverse upper middle that is seen when magnified. It is not toning but I mention to be exact. The grading is thus GEF/AUNC. This is a wonderful banknote of the highest quality and is offered at a very competitive price. I have no doubt most would still list the note as UNC or AUNC.