Coin and Paper Money Collecting/1977 $5 bill not completely cut
QUESTION: Hi, I have a 1977 $5 that is not fully cut, the lower right corner, looking at from front has the corner still in tack, approx 1/2 of an inch of the corner is attached creating a 1/2 x 1/2 area.
Thanks in advance.
It sounds like you may have a cutting error. It is often referred to as a "butterfly" currency error.
Condition is very important in establishing the value of your note. Bills are printed in sheets of 36 notes and in three phases. Reverse print, obverse print, and serial numbers with seal print. They then are cut and put into bundles of 100. Your error likely happened during the obverse print operation when at least one sheet was mis-fed and went through partially folded. It went unnoticed through the final print operation, inspection and cutting.
The retail value of your note would likely be in the $50 to $100 range, depending on condition and interest.
You'd likely get the best price at an auction or selling your note to an error dealer. A personal friend, Fred Weinberg, is an error dealer. He can be contacted at: http://www.fredweinberg.com/
Several sites of paper currency auctions are:
Here's a link for history of the $5 bill: http://en.wikipedia.org/wiki/United_States_five-dollar_bill
Here's link for you to view different types of real error currency and their values.
You may want to check US coins and currency listings on eBay from time to time to see if your currency is listed what these type of items may bring.
Here is a link to find 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 items to a dealer, remember they will offer about 50% to 60% of the retail value. See: http://www.pngdealers.com/dealersearch.php
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QUESTION: Hi, I was able to get in touch with your suggested contact but because of some stains on the bill, he wasn't able to offer it to his collectors and therefore, wasn't able to give me any price guidance.
He actually suggested I check with you on success on e-bay with selling notes such as this and what you thought it may be worth.
Can you give some guidance?
Thanks in advance,
Paper Money collectors want the best condition notes. Many pass on used or stained notes. You can check yourself. Here is an active one: http://www.ebay.com/itm/1-BUTTERFLY-FOLD-OVER-MAJOR-ERROR-NOTE-1981-/17077449308
Without a photo, too hard to give a good price. Try the other dealers like Lyn Knight. Try posting yourself on Ebay. Try local dealers and see if they offer a fair price.
Hope this helps.
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QUESTION: Thank you again, I didn't realize I could post any pictures for your viewing.
I've attached some now.
I saw the ebay listing, mine seems not as drastic and I do not know of any dealers in my local area, but then again, I've never paid much attention.
Please let me know your thoughts on the pics.
Some of the stains or after, some around edges appear to be printing issues.
Nice note. With stains, probably would grade EF. My guess would be a retail in the $75 range. Surprised Fred wasn't interested.
Try these currency dealers at: http://www.numismaster.com/ta/inside_numis.jsp?page=currency-banknote-paper-mone
You might also want to contact James Essence at: http://www.jimscoins.com/
He does error auctions, and might be willing to list your error note for a fee.