British North Borneo notes have always been popular with collectors due to their rarity and the exotic locale where they circulated. Low quality paper and a punishing tropical climate made the notes wear out quickly, hence why nearly all extant examples are limp and damp. While this example is a bit frail, with ragged edges and rust, it is actually decent enough for the type. The stamped date and signatures are clear, and the major design components all still present boldly. Rare in any grade and a very popular Colonial type. PMG mentions "Edge damage; rust."