This is a very rare note indeed. I grade as GVF. It would be towards EF if there was not the annotation top left on the reverse. It can be seen on the front as well, top right where there are also a couple of pinholes. There is thinning on this area. However, the note is wonderful, especially considering this is the thin paper printing. Please check the prices of other sellers to compare this offer. I think this is very hard to match. The book price is around £1800, so this offer is superb and an opportunity to hold one of the best white notes possible.