Here is yet another numismatic relic knocked off the top of the want list. I think it was a decent buy at just over $600.
As mentioned in a previous thread about one of these notes, I must say that despite my not being a currency collector, I really, really like these. Congratulations on a very handsome acquisition.
The 1896 Educational series $2 and $5 are also very desirable...although the price of admission goes up exponentially.
The grader(s) were likely better able to see its flaws and imperfections in person than from what we can see in a picture or scan on here. It's still quite a nice looking note.
I totally agree with @NOS, and will add, there is virtually no way to accurately determine grading by just a scan. I posted a note (in holder), and the vast majority thought it was undergraded. Then I photographed the note with side lighting, and the folds and handling marks are visible. The folds would show up even more if not holdered.