# Unusual US currency



## Harold_V (Oct 9, 2013)

*This thread has been created as the result of a split from the thread at 
http://goldrefiningforum.com/phpBB3/viewtopic.php?f=58&t=14782&start=60
because it was not on topic. * 



Brandon/kelly said:


> I am a currency & coin collector


Interesting. 
Any idea what a dollar bill is worth with the serial number and seal printed on the wrong side? It's uncirculated and in pristine condition (stored in heavy clear plastic). It was recovered from new bills at a bank, long ago (mid 1970's), in Colorado. 

Silver 3¢ piece. Just happen to have one (but in storage, along with the $1 bill).

Harold


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## Brandon/kelly (Oct 10, 2013)

Harold

Just by the way, you have described your $1 note what you have is known as an


> Error Note


. Now when you said the serial number and the seal is on the reverse side I cannot tell you right off hand what type of error they would call that. As all coin/currency, errors get their own name.

Now I can tell you that with just the one error with the serial number being on the reverse side that is known as an


> Inversion Error


. With just that, error alone you could be looking at a retail value between $300 to $2500 could be even higher.

By saying that what will go into determining the price as well is the date, the grade If the note is CU (for Crisp Uncirculated) meaning it has never had a chance to circulate, has no signs of wear or tear, no folds and no dirt, it could be worth substantially more. When you said


> It's uncirculated and in pristine condition (stored in heavy clear plastic)


 my guess is it could fall in the grade margins between MS-60 – MS-70 Crisp Uncirculated the MS (for Mint State) the higher the grade the higher the price.

Now some the other factors in helping determine the price is how clear the error printing is on the reverse side of the note how well all detail can be seen, and rarity how many these error bills was released to the general public before the error was caught the faster they caught the mistake the better for you.

Genuine misprints are usually worth a lot. Be careful, and do not sell it to anyone yet, because some dealers may offer you something, but that is a good indication it may be worth much more. Keep it until you find out as much as you can. What I would do Harold is find a few who specializes in error currency, and have them appraise it for you, but get you several opinions on this so you know what exactly you have there!

Sweet find if you do pull, it out storage would love to see some pictures if possible...


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## Harold_V (Oct 10, 2013)

In regards to the dollar bill, my sister worked at the bank from which it was retrieved. She was mixing new bills with old bills (they did that routinely, so they wouldn't stick together) when she discovered this one. She replaced it with another bill and removed it from the stack, so it has been handled only enough for this to have taken place. It is absolutely clean, and I put it in plastic the moment I took possession, and it has never been handled beyond that. 

About the same time she found the bill, one appeared from a different location, and was made known via an article in the newspaper. At that time the bill was valued @ $400, which is what I gave my sister for the one I have. I still have the newspaper article, which is stored along with the bill in question. 

I'll see if I can gain access to them in the next day or so. 

If memory serves, a full sheet of bills was released, so there should be, what, 16 of these bills? I don't know how many bills are printed per sheet. 

Harold


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## Harold_V (Oct 11, 2013)

Here's some pictures of the bill in question. Note that the serial numbers and seals are missing on the front of the $1, but printed on the back. 

The other bill is a United States Note (as opposed to a Federal Reserve Note). In all my years, I've seen only this one in that denomination.








Here's pictures of three $1 bills, uncirculated, consecutive numbered, series of 1928 A







Enjoy!

Harold


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## maynman1751 (Oct 11, 2013)

Nice stuff Harold. I once had a $100 bill that was a reverse overlay transfer and my wife spent it!!!  :roll:


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## Smack (Oct 11, 2013)

You should send that stuff in to be graded Harold. Grading alone will make them worth more.


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## mls26cwru (Oct 11, 2013)

Smack said:


> You should send that stuff in to be graded Harold. Grading alone will make them worth more.



yes, the error may be valuable enough to be graded. The others are more common. I would take them to a dealer and get their opinion first... it doesn't make sense to spend money to grade something if it is not very valuable.

Mike


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## silversaddle1 (Oct 11, 2013)

mls26cwru said:


> Smack said:
> 
> 
> > You should send that stuff in to be graded Harold. Grading alone will make them worth more.
> ...



I disagree. I think that if Harold enjoys having the bills, why not send them out to be graded? It's not always about the money.


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## patnor1011 (Oct 11, 2013)

I am being paranoid here but I would not send them to be graded. First you send them out where they can be lost, second you give them address where they are kept.
I would take them to be graded or at worst send someone I trust to to do it. :twisted:


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## Smack (Oct 11, 2013)

I mean a for real professional world recognized grading.
http://www.pcgscurrency.com/index.html


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## patnor1011 (Oct 11, 2013)

Yes, weird things happen, even in professional companies. Too long of a chain of custody - I believe that is correct term. 
I meant that too many packages went missing. It is always better to deal with person than with telephone or envelope.


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## galenrog (Oct 11, 2013)

Thank you for posting the images, Harold. I rarely see error notes, though I seem to find error coins on a fairly regular basis. I am not going to speculate on the value. Once again, thank you.


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## mls26cwru (Oct 11, 2013)

patnor1011 said:


> I am being paranoid here but I would not send them to be graded. First you send them out where they can be lost, second you give them address where they are kept.
> I would take them to be graded or at worst send someone I trust to to do it. :twisted:




I agree... that is why you need to find a reputable service like PCGS. The grade it, authenticate it, and permanently seal it. As long as the seal is not broken they stand behind the grade they give it so that anyone can know immediately its grade and thus value. Also, i know that they often go to coin/currency shows. on that link above that someone provided, near the bottom of the fee schedule, they provide a list of up coming shows they will be attending so you can personally bring what you have to them.

Mike


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## sharkhook (Feb 16, 2014)

Error notes are visually impressive. I love looking at them, but know little about them. I have a $1 note that has a yellowish/orange back from the 70's era (missing the green ink overlay). As for coins, I worked with PCGS sending them coins for grading several years ago, and became quite adept at grading them to their standards. They have some very strict policies about who works for them, and their customers privacy. More than some of the other known grading companies out there. I had an opportunity to actually work for NGC in their early days and was not impressed by them. I only do a very little collecting today, even less for other people, and I always look at grades based on the PCGS standards. 

Thanks for the pictures Harold, they are impressive examples of how to care for a collectable. 

Sorry for reviving and old post, but it was just to good not to.


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## Golddigger Greg (Feb 16, 2014)

On the $100 U.S. note, I found this information on Wiki:

End of the United States Note[edit]
Soon after private ownership of gold was banned in 1933, all of the remaining types of circulating currency, National Bank Notes, Silver Certificates, Federal Reserve Notes, and United States Notes, were redeemable by individuals only for silver. Eventually, even silver redemption stopped in June 1968, during a time in which all U.S. currency (both coins and paper currency) was changed to fiat currency. At this point for the general public, there was little to distinguish United States Notes from Federal Reserve Notes. As a result, the public circulation of United States Notes, which was then mainly in the form of $5 bills, was replaced with $5 Federal Reserve Notes, and the stock of United States Notes was mostly converted into $100 bills, which spent most of their time in bank vaults. No more United States Notes were put into circulation after January 21, 1971.[22] In September 1994 the Riegle Improvement Act released the Treasury from its long-standing obligation to keep the notes in circulation and finally, in 1996, the Treasury announced that its stock of $100 United States Notes had been destroyed.[23]

The fact that most of these notes never saw circulation would explain why you've only ever seen this one example.


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## Auggie (Feb 17, 2014)

Very interesting paper you got there, Harold.

The US Notes were "lawful money", i.e. not fiat money, i..e. as good as gold, i.e. they could actually be used to "pay" a debt, in the lawful sense of the word "pay". As opposed to Federal Reserve Notes, which is private bankster credit, which is debt money, which means when you "pay" with a FRN you are merely discharging a debt, which means the debt remains but becomes the liability of someone else (which is why the national debt continues to grow unabated).


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## Nostradomus (Apr 10, 2014)

Harold, 
I am truly jealous of your collection. I would love to own those. Some experts debate whether errors and so forth actually hurt the value of notes and coins but I don't believe that is true and I am a huge fan of any piece of mistake currency even counterfeit money but I don't advertise that to much.


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