Pinholes can easily pass unnoticed - especially when they are not expected, e.g., on high-grade notes. Holding the banknote up to the light will reveal any that are present. If the dealer is not aware of them, or didn't tell you about them, you have good reason to haggle for a lower price, because pinholes will reduce the value of any note that is fine or better condition. With grades lower than fine, pinholes are nowhere near as important, because such faults are to be expected.

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