Expert: Ronald Fern - 6/24/2010

Question
QUESTION: The 1974 $1 bill has about 1/2" from lower right corner extending to D on DOLLAR.
The 1985 $5 bill has double vertical gutter crease between Lincoln's ear and eye.
They are both crisp with very little circulation effects. Do either of these bills have value?

ANSWER: Hi CJ:

Thanks for the question. Photos would help, but I'll try and answer as best I can. If you want to ask a follow-up question and attach photos of the error notes, I'll revise my answer, if required.

Bills are printed in sheets of 36 notes and in three phases. Obverse print, reverse print, and serial numbers with green seal print. From your limited description, I'm guessing both of the errors are on the front of the notes. Condition is very important in establishing value. It is likely at least one sheet was miss-fed and creased as it went through the face printing operation on the $1 and $5 bills. The sheets, with the error(s), went unnoticed during the cutting and final inspection phase. There may have been several others of each denomination with a similar error like yours to "escape" into circulation. This is a relatively common paper money error, but the double creased $5 bill would likely be worth a little more to an interested collector.

A $1 bill in crisp Uncirculated condition like yours would have a value of approximately $25 to $50 to an interested error collector, while the double creased $5 bill could bring between $35 to $65. Circulated notes would likely bring about $10 to $25 retail. The dates of the bill are recent, and in my opinion, would have no added value. Star notes or unusual serial numbers would likely bring a higher price.

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 error notes on eBay from time to time to see if your errors are listed what these types of error notes bring. 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.

---------- FOLLOW-UP ----------

QUESTION: IF photos would help, where and how do I send a scanned pciture of the bills?

Answer
Hi Again CJ:

Thanks for the follow-up question. I did answer your question on June 20th as to how to attach a photo. I'll re-post my reply to you here, less some words that are of no importance. What I told you on June the 20th:

Go to "Ask a Question": http://www.allexperts.com/user.cgi?m=4%26expID=112577%26catID=2297

Click on: "Attach an Image". You must have some type of an image in a computer file.

Follow the instructions below: "Cancel Image Upload".

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That should do it. Thanks again for the opportunity to help you with your numismatic questions, and continued Good Luck in your collecting.