Expert: Ronald Fern - 6/16/2011

Question
I have 6 consecutively numbered Cleveland mint 1993 $20 bill printing errors (or so I have been told).  I got them from an ATM machine in 1995 and have been kept in protective cases since.  To my knowledge they have only been touched a couple of time.  The error is on the front and there are 5 lines about 1/2 inch wide on each of the bills in the exact same place.  The "lines" are totally missing print or it is very light.  If you need, let me know, and I'll try to email you a picture.  It's hard to describe.  I have been told that they are a type of printing error or obstruction during the print process.  I have the usual questions...How was the error created?  Is there a name for the error?  Is it valuable?  Does having 6 consecutive numbered pristine examples help in the value?  And can you tell me anything more about them?--Thanks for your help--Ted

Answer
Hi Ted:

Thanks for giving me the opportunity to answer your question. From your description, it seems like your either have an obstruction or a board break. If you want to send a photo, my e-mail address is coingye@yahoo.com I can better tell what you may have.

Condition is very important in establishing the value of your note. Notes in About Uncirculated condition with these types of errors are worth approximately $250 to $500 each to an interested collector. The consecutive serial numbers could add an extra 50% to the value.

An obstruction happens when a foreign object somehow comes between the paper and the printing plate during production, often leaving a blank area on one or more isolated portions of the note. A board break is the result of a partially broken impression cylinder. Sometimes extreme pressure from strikes or passes can cause fatigued areas and cause the cylinder to either compress or crack resulting in this type of error.

Bills are printed in sheets of 36 notes and in three phases. The back is printed first and taken to a drying room. Next the front is printed and then allowed to dry. Last, the serial numbers and Treasury shield are printed in an overprint press. They then are cut and put into bundles of 100. Though errors are unusual, quality control at the Bureau of Engraving stops most errors from reaching the public. With billions of notes printed each year, inevitably errors are missed and find their way to the numismatic market and ultimately to collectors.

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

Link: http://www.coinsite.com/html/uscurrencyerrors.asp or http://www.webpressnotes.com/currencyerrors.htm

Link for history of the $20 bill: http://en.wikipedia.org/wiki/United_States_twenty-dollar_bill

You may want to check US coins and currency error listings on eBay from time to time to see if your notes are listed what these type of items may bring.

Your bills should be looked at by an error expert. My recommendations on who to sell to:
http://www.fredweinberg.com/ (a personal long time friend)
http://www.executivecurrency.com/

If you live close to a local shop, they should offer an opinion as to their value and if they are authentic at no charge. Remember, should you choose to sell your notes, get at least two estimates from professional coin dealers (PNG). I've listed a link for you to find them in your area. Link: http://www.pngdealers.com/dealersearch.php

Dealers normally pay between 50% to 60% of retail for items they want.

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Thank You and Good Luck in your collecting.