Expert: Ronald Fern - 8/13/2011

Question
I have a bill that I thought was a fake because it just looked different than all my newer bills. The serial number is not as bold as my other bills. So I looked it up on the internet and I can not find any information on it. It is a $1 note from 1963. It is B series. It is signed by C. Douglas Dillon and Kathryn O'Hay Granahan. The serial number is B09078870B. It came from the federal reserve bank of New York. It has four number 2's on the front. Also on the front is a F1 and F40. The bill is in excellent condition for being so old. I really know nothing about collecting money but this bill caught my atention.
Thanks, Kevin

Answer
Hi Kevin:

Thanks for the opportunity to answer your question.

Your note is not unusual or rare. According to BEP records, notes of this series were delivered to the Federal Reserve between November 1963 and July 1965. A total of 219,200,000 were printed.

For values, see: http://www.coinsite.com/html/uspapermoneyprices(sm).asp   

Bills are printed in sheets of 32 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.

For more information, see: http://www.madehow.com/Volume-3/Paper-Currency.html

Link for history of the $1 bill: http://en.wikipedia.org/wiki/United_States_one-dollar_bill

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

If you live close to a local shop, they should offer an opinion as to the value and if it is 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. In an auction, you can set the price, and potentially get more.

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.