I have never seen a set of notes and Pick #'s be so mismanaged in all my years as the 100 & 50 Hryven notes of 1992. I recently viewed a 1992, 100 Hryven note up for auction and I was surprised to see the labeling on the note. It was a cancelled note with perforation and listed as Pick # 107B on the label which I agree with for the most part. The reason the labeling was a surprise to me is that TPG's have been calling perforated notes specimens for years now and this was the first time I had viewed a perforated note having not been labeled as a specimen. 'Bout time!

I have tracked at a minimum five notes of both denominations having been incorrectly labeled IMO, either as a specimen or specimen with the notation "unissued".

These are the facts as I see them.

1. The last edition of the SCWPM only lists Pick #'s 107A & B for these denominations in this series, no specimen P#'s are listed.
2. The SCWPM uses images of specimen notes with red overprint for P#'s 107A & B, this may or may not have lead to some confusion. Especially when showing an image of a specimen but not listing a P# for one.
3. Notes with ЗРАЗОК (SPECIMEN) in red overprint on both sides of the note are specimens and should be labeled as Pick #'s 107As & 107Bs respectively, which they typically are.
4. Notes perforated with "НЕПЛАТІЖНА" (NOT PAYABLE/NON-PAYMENT) are unissued notes that were canceled and sold in commemorative sets. These should be labeled Pick #'s 107A & 107B respectively and should be noted as being "CANCELLED" on the label. 
5. Notes that are not perforated and not a specimen are unissued notes that were not cancelled and somehow made it out of the NBU's vaults. These also should be labeled as Pick #'s 107A & 107B respectively. 

The TPG's are so close to getting the labeling correct, the last piece of the puzzle is for them to label the perforated notes as being Unissued - Canceled or Unissued - Perforated - Canceled, something along those lines, and the labeling would finally be correct IMO. Not much can be done about the notes currently out in the world with bad labels but I have probably one or two of each denomination and I think I'll see if PMG will agree to changing the labels due to a "Mechanical Error", if not I may just cut them out and resubmit. 

I've previously written about the 50 & 100 Hryven notes of 1992 here: