Expert: Ronald Fern - 1/11/2011

Question
I'm hoping to get an estimate of the value of a $100 bill I've got that was folded (creased in to a "Z" shape) before ink was applied.  I believe this is known as a "gutter fold."  The fold was not printed on so when it's unfolded there is an area of blank paper where ink was not deposited.  This occurs on both sides of the bill.  The fold runs diagonally about 30 degrees from vertical.  The bottom of the crease is in the approximate center of the bill.  The fold stayed in  the bill through the cutting process so unfolded, there's "a step" in the edges of the bill.  The fold, the area where there is no ink, is about 1/16" wide.  The bill is a "series 1977."  

On this site http://www.coinsite.com/html/uscurrencyerrors.asp it says that this sort of error on a $10 bill places its value at $30 − $65.  Is mine more valuable because it's a $100 (other than the obvious $90 more value that is).  

Other than this defect the bill is in excellent condition.   
Xft56

Answer
Hi Lou:

Thanks for your question. It seems like you did a lot of the preliminary research, and you are "right on" on the added value of your note. The condition is very important in establishing the value of a note. The retail value of your note would likely be in the $150 to $175 range. Hundred dollar notes are not collected by a lot of people because of the high value of the original note. Many collectors concentrate on notes with a face value of $1 to $20.

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

Bills are printed in sheets of 36 notes and in three phases. Reverse print, obverse print, and serial numbers with seal print. It sounds like you may have a first printing operation error where at least one sheet was wrinkled when the ink was applied. This error was missed in the final printing, serial number application, cutting and the inspection process. There may be several other notes similar to yours that escaped into circulation.

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 error is listed what this type of error note brings.

If you live close to a local shop, they should offer an opinion as to the value at no charge. 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

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Thank You and Good Luck in your collecting.