Does "Obsolete Currency" only refer to notes from the US?

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Would a set of notes that is from a government that no longer exists or which the government has demonetized be considered "obsolete?" Or would a set of such notes still just be classed as "World" (Non-US) currency / sets?

I'm mostly asking this in the context of signature sets in the registry, where-in you can choose "US," "World," "Obsolete," and some other options.

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