Expert: Ronald Fern - 3/2/2010

Question
Hello, I have a 1985 10 dollar bill that is in crisp condition that I have kept stored between 2 pieces of cardboard.  The bill has fold in it that when opened shows the bill was improperly cut and there is no ink on the part that was folded in.  Can you give me an idea whether it is worth more than the $10 face value?

Answer
Hi Lorraine:

Thanks for giving me the opportunity your question.

Condition would be one of the prime factors in determining the value of your piece. You didn't say whether the folded part and the missing printing is on the front or back or the bill. Based on your description, you have an error that happened on either the first or the second printing operation. If you want to attach a photo in a follow-up question, I'll revise my answer as warranted. It's hard to put an accurate value on your error note without a photo.

Bills are printed in sheets of 36 notes and in three phases. Obverse print, reverse print, and serial numbers with seals print. It is likely your sheet was partially mis-fed and creased during the printing, causing some of the printing to be missing. Your sheet, with the error, went unnoticed during the cutting and final inspection phase. There are likely several others in your group that may have been printed with a similar error.

A bill in crisp Uncirculated condition like yours would have a value of approximately $300 to $500 to an interested error collector. Bills in circulated condition would be worth less, and highly circulated notes would likely be worth about double face value.

Here's a link for currency grading: http://www.cganotes.com/

Here's a link with information on FRN's: http://en.wikipedia.org/wiki/Federal_Reserve_Note
Here's a link for $10 bills: http://en.wikipedia.org/wiki/United_States_ten-dollar_bill

Here's link for you to view different types of error currency and their values.
Link: http://www.coinsite.com/html/uscurrencyerrors.asp

You may want to check US currency listings under errors on eBay from time to time to see what this type of error brings.

If you live near a coin shop, I'd suggest you let them look at the note. Most dealers will offer an opinion as to the authenticity and value at no charge.

If you should decide to sell your bill to a dealer, remember they will offer about 50% to 60% of the retail value. You should always get two or more estimates, and try and deal with PNG (Professional Numismatists Guild) dealers when possible. I'll list the link for you to check dealers near you.

To find a PNG dealer, see Link: http://www.pngdealers.com/dealersearch.php

Please remember to go to the experts site to rate this answer. And check the nomination box on the rating page below any comments you may have.

Thank You and Good Luck in your collecting.