Coin and Paper Money Collecting/Misprint 1$ bill

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Expert: - 3/10/2010


Question

misprint
Hi, I have tried 3 different coin stores in my area and each has been unable to give me a value of this misprinted dollar bill. Each is quite impressed with the bill but says they have not delt with this sort of misprint before so can not give a good estimate. I was offered 450 by one store but he said it was just because he wanted to add it to his collection. I would sure appriciate any help you can offer. The back of the bill is perfect with no mistakes, the front is missing the light green ink for serial number and also the treasurey stamp, I can see the imprint of a J for the treasurey seal. The serial appears to be stamped with a very slight indentation on the paper but there is no way to make out the numbers. The bill is from 1985. Thank you so much in advance for any help you can offer. I am not planning to sell at the moment but depending on the value it may help me stay an additional month in our home. I am laid off and trying to see what items I have of value to sell in a pinch.

Answer
Hi Steve:

Thanks for giving me the opportunity to answer your question.

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 had another sheet of bills stuck together and the two sheets of bills went through together during the last phase of printing, causing the serial numbers and seals to be missing from your sheet. Your sheet, with the errors, 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.

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

Here's link for you to view different types of error currency and their values.

Link: http://www.coinsite.com/html/uscurrencyerrors.asp

Here's a link with information on FRN's: http://en.wikipedia.org/wiki/Federal_Reserve_Note

Here's a link for $1 bills: http://en.wikipedia.org/wiki/United_States_one-dollar_bill

You may want to check US currency listings under error notes on eBay from time to time to see if your error is listed what this type of error note brings. Here's one presently listed: http://cgi.ebay.com/1988A-1-MISSING-SEAL-AND-SERIAL-NUMBERS-ERROR-NOTE_W0QQitemZ...

Always try and get at least two opinions and try and deal with PNG dealers if possible. If you should decide to sell your bills to a dealer, remember they will offer about 50% to 60% of the retail value. Here's a link to find one in your area: 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.

Ronald Fern

Expertise

I can answer most all questions relating to US coins, tokens, and currency. I'm not strong on world coins or ancients. Primary field of expertise is errors and varieties. Over 55 years experience in coin collecting. Part time dealer since 1976. Employed by McDonnell Douglas/Boeing for over 34 years as an Industrial Engineer/Technical Specialist before retiring in 2002.

Experience

Worked weekends for "Lonesome" John in the late 1960's to mid 1970's processing error coins, packaging, and preparing orders. Worked with John Devine and Fred Weinberg on several California Error A Rama's in the early 1970's. Served as display judge at annual Error-A-Rama coin shows. Opened and operated mail order coin business DBA "CAL ERRORS" in 1976. Contributer to Alan Herbert's "Official Price Guide To Mint Errors" and Fivaz/Stanton "Cherrypickers' Guide". Worked Saturdays at Huntington Beach Coin Exchange 1980-1999. Had table and sold coins at a number of coin and gun shows in So CA, AZ and NV. Sell coins, tokens and currency currently at my space in the Pomona Antique Center. Past "Errorscope" Editor. Presently CONECA Examiner.

Organizations
ANA, CONECA, CWTS, NLG

Publications
Errorscope, Numismatic News, Civil War Token Journal, Error and Variety News

Education/Credentials
AA Degree LBCC pre Engineering, 1964 BS Degree CSULB Ind Technology, 1968

Awards and Honors
1st Place EAR Trophy for Civil War Token Errors, NLG Author of Year Award for best monthly coin column "Error News and Views" in small Numismatic paper, owned and published by Ray Anthony.

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