Yes uncirculated could be both a condition and sate, but I think it would be reasonably easy, armed with magnifier and suitable lighting, to differentiate a genuinely uncirculated coin (one that has also been well looked after) from a coin that has seen some, even very light circulation.
In contrast to British grading in the older Bertrands (from 1993 for example) they don't actually have AU as a condition, it goes straight from EF to UNC! I suspect the addition of AU as a state was to up the price of the better EFs!
Interestingly back then a 1940 and 1936 florin were quite close in price (1200 cf 1400 in UNC condition).
a nice obverse to this 1936 florin, very detailed beard detail. I'm surprised it didn't go for more, but I did my best!
https://www.trademe.co.nz/a/marketplace/...f=ggNgMHhk
compare beard detail on this one
https://www.trademe.co.nz/a/marketplace/...f=FpNOsDzC
In contrast to British grading in the older Bertrands (from 1993 for example) they don't actually have AU as a condition, it goes straight from EF to UNC! I suspect the addition of AU as a state was to up the price of the better EFs!
Interestingly back then a 1940 and 1936 florin were quite close in price (1200 cf 1400 in UNC condition).
a nice obverse to this 1936 florin, very detailed beard detail. I'm surprised it didn't go for more, but I did my best!
https://www.trademe.co.nz/a/marketplace/...f=ggNgMHhk
compare beard detail on this one
https://www.trademe.co.nz/a/marketplace/...f=FpNOsDzC