The embossing glistens on the note which has not been circulated. GEF for three reasons: there are two small creases on the top corners and a light dent on the watermark. I mention to be exact. The notes seems to have been mounted in the past (NO GUM used) and it has been very well cared for. It is a lovely, brilliant and very appealing note. It is priced some way below the EPM value. Free UK postage.