Expert: Ronald Fern - 5/24/2010

Question
I recently recieved a ten dollar bill. Everything about the bill is correct
except it is printed about 1/16 of an inch smaller than a normal bill.
Is this a counterfiet bill or could it be a bad plate that printed it.
The paper is right(pen tested) and threads in it. Color changing ink,
water mark. Every thing is exactly like it should be, it's just smaller.

Answer
Hi Bryan:

Thanks for giving me the opportunity to answer your question.

From the description, your bill could be a cutting error or even altered after it left the Bureau of Printing and Engraving.  If you want to send a follow-up question, with a photo, I'll revise my answer, if required.  A lot depends on the condition, but it is a rather minor type of error note (if real).

Bills are printed in sheets of 36 notes and in three phases. Obverse print, reverse print, and serial numbers with seals print. The sheet with your note was possibly improperly cut and went through unnoticed in the final inspection phase. There may have been several others with a similar, but different amount of cutting error like yours. There is also a chance someone may have cut the bill after it was printed.

A bill in crisp Uncirculated condition like yours would have a value of approximately $15 to $20 to an interested error collector. Circulated notes would likely bring only face value. An altered bill would have no added value.

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 history of the $10 bills: http://en.wikipedia.org/wiki/United_States_ten-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.

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. Check the nomination box on the rating page below any comments you may have.

Thank You and Good Luck in your collecting.