SHER SCALE 

THE SHER SCALE
India's Original Banknote Grading Standard by AINCERT

The Sher Scale is India's first original grading standard for paper currency, created by Ujjwal BU Pant, Founder President of AINCERT, in June 2026. It is named after Sher Shah Suri, the Afghan emperor who in 1540 CE introduced the Rupiya — the silver coin that became the direct ancestor of the modern Indian Rupee and the foundation upon which all Indian paper currency history rests. Just as Sher Shah Suri standardised India's monetary system five centuries ago, the Sher Scale standardises the way Indian banknotes are graded, preserved, and understood.

The Sher Scale runs from 1 to 100, making it the most precise banknote grading standard in the world. While the international PMG and PCGS systems use a 1 to 70 range borrowed from the Sheldon Scale for coins, the Sher Scale was built from the ground up specifically for paper currency and specifically for the Indian context. It accounts for India's unique climate conditions, the distinct paper formulations of the Currency Note Press Nashik and the Bank Note Press Dewas, the full range of Indian banknote history from British India colonial issues through to modern Reserve Bank of India commemorative notes, and the specific preservation challenges faced by Indian collectors.

Why India Needed Its Own Scale

The IBNS grading system was created in 1961 by Western collectors for a Western market. The PMG and PCGS numerical scales map Western descriptive grades onto a range originally designed for American copper coins. Neither system was built with Indian paper in mind, Indian climate in mind, or the extraordinary diversity of Indian banknote history in mind. A British India 1935 Reserve Bank of India note printed on high-quality British paper ages and preserves entirely differently from a 1950s Republic of India note printed domestically. A monsoon-affected note in Kolkata presents different grading challenges from the same note stored in Rajasthan. The Sher Scale recognises all of this. It is a grading standard that speaks the language of Indian notaphily.

The Sher Scale — Complete Grade Table

SH-100 — Superb Flawless. The absolute pinnacle of the Sher Scale. A banknote in perfect condition in every measurable respect. Flawless printing, razor corners, brilliant original paper, perfect centring, and zero imperfections under ten times magnification. Extraordinarily rare.

SH-95 to SH-99 — Gem Uncirculated Superior. An exceptional uncirculated note with original paper brilliance fully intact. Corners are sharp, margins are even, and printing is vivid. Any imperfection is invisible to the naked eye and detectable only under magnification.

SH-90 to SH-94 — Gem Uncirculated. A outstanding uncirculated note with bright original paper and excellent eye appeal. Margins are even and corners are sharp. A single trivial imperfection may be present but does not affect the note's beauty or originality.

SH-85 to SH-89 — Choice Uncirculated Superior. A well-preserved uncirculated note with full original crispness. Slight handling from counting or packaging may be visible but no folds or bends are present. Strong eye appeal throughout.

SH-80 to SH-84 — Choice Uncirculated. A crisp, uncirculated note with original paper body. Minor counting marks or a faint corner bump may be present. No folds of any kind. The paper retains its full original snap.

SH-75 to SH-79 — Uncirculated Superior. A note that has never entered circulation but shows slight evidence of handling. One or two minor marks may be present from bank storage or packaging. Paper is still fully crisp. No folds.

SH-70 to SH-74 — Uncirculated. The first grade at which a note is considered uncirculated under the Sher Scale. The paper retains its original body though slight imperfections from production or storage may be visible. No folds or creases of any kind.

SH-60 to SH-69 — About Uncirculated. A note with only the faintest evidence of actual use. One barely visible fold or light crease may be present. Paper is bright and retains much of its original crispness. Excellent eye appeal with minimal signs of age.

SH-50 to SH-59 — Extremely Fine. A lightly circulated note showing two or three small folds. Paper is still firm and colours are vivid. Margins are clean and corners show only minimal rounding. The note is clearly well-preserved despite some circulation.

SH-40 to SH-49 — Very Fine. A note showing moderate circulation with several visible folds. Paper remains relatively firm. Colours are reasonably bright. Margins are intact and no tears or repairs are present. A solid mid-grade collectible note.

SH-30 to SH-39 — Fine. A note that has clearly circulated with numerous folds and light creasing throughout. Paper has lost much of its original crispness. Some corner rounding and light soiling may be present. All design elements and serial numbers remain fully readable.

SH-20 to SH-29 — Very Good. A heavily circulated note with considerable folds, creases, and moderate soiling. Paper is soft and limp. Colours have faded noticeably. Minor stains may be present. No tears, holes, or missing pieces. Complete and identifiable.

SH-10 to SH-19 — Good. A well-worn note with significant circulation damage. Heavy soiling, numerous folds, and possible small tears along fold lines. Major design elements are visible but weakened. The note is complete but shows serious wear throughout.

SH-5 to SH-9 — About Good. An extremely worn note barely holding together. Large tears, heavy staining, missing corners, or significant damage throughout. The denomination and issuing authority are identifiable with effort. Collectible only as a space filler.

SH-1 to SH-4 — Poor. The lowest grades on the Sher Scale. The note is severely damaged, mutilated, or defaced. It is identifiable as an Indian banknote only with difficulty. Graded for completeness of record only.

Special Sher Scale Designations

OPQ — Original Paper Quality. The Sher Scale's equivalent of PMG's EPQ designation. OPQ confirms that a note's paper is entirely original and has not been cleaned, washed, pressed, or chemically treated in any way. A note graded SH-80 OPQ is significantly more desirable than SH-80 without OPQ. OPQ is the most important designation on the Sher Scale.

STAR — Awarded to notes of exceptional eye appeal within their assigned grade. A Sher Scale Star note displays qualities that place it at the very top of its grade range.

NET — Assigned when a note's grade has been reduced due to a specific problem such as a stain, pinhole, tape repair, or writing. The NET grade reflects what the note would achieve without the problem present.

RESTORED — Assigned to notes that have been repaired, washed, pressed, or otherwise altered. Restoration must always be disclosed and dramatically reduces a note's collectible value.

The Indian Climate Standard

The Sher Scale introduces a grading consideration unique to Indian notaphily — the Indian Climate Standard. India's monsoon season, regional humidity variations, and temperature extremes affect paper currency in ways that Western grading standards do not account for. Under the Sher Scale, a note's OPQ designation specifically confirms that its paper condition is original relative to Indian storage conditions. A note that shows mild humidity absorption consistent with Indian storage over decades is not penalised for what Western grading systems might flag as paper softness, provided the condition is entirely natural and unaltered.

Sher Scale and the ARCHIER Scale — AINCERT's Twin Grading Systems

Together, the ARCHIER Scale for coins and the Sher Scale for banknotes form AINCERT's complete grading framework for Indian numismatics and notaphily. The ARCHIER Scale was named after the Chandragupta II Archer Type Gold Dinar — the finest specimen of Gupta coinage. The Sher Scale is named after Sher Shah Suri — the architect of the Rupiya. One scale honours ancient Indian coinage at its peak. The other honours the moment the modern Indian monetary tradition began. Together they represent AINCERT's commitment to building grading standards that are genuinely Indian in origin, Indian in context, and Indian in purpose.

The Sher Scale was created by Ujjwal BU Pant, Founder President, AINCERT — All India Numismatics Council of Educational Research and Training. June 2026. sites.google.com/view/aincert