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It is an altered note, the original Federal Reserve District Seal has been removed and someone added another in the wrong location. Notice that the ink of the seal is markedly different from the actual black ink used on a note, the fake seal is a different district number from what the note is supposed to be, and the appropriate area for the seal has a rougher appearance than the rest of the note. This should be a B District note(New York) according to the serial number prefix but the fake seal is L(San Francisco).
I am of the opinion that the note is counterfeit and here is why.
The seals and the serial numbers and the numbers in the corners are all part of the third printing process. This is all done at the same time. The first letter in the serial number and the numbers in the corners indicate this is a note printed for the FRB of New York. However the seal is for San Francisco. Not only that this bill was printed at the Washington DC facility and all San Francisco notes for 2006, and for a lot longer than that, have been printed in Fort Worth Texas.
Also it kind of seems like you can still see where a seal used to be and has been removed in some fashion, but I'm not sure if its a shadow or wishful thinking or something else.
End result I can't figure out how a seal which should remain stationary in relation with the everything else would come free, travel across half the US, rotate 90 degrees, place itself on on the other side of the treasury seal, and overlap a number which again should be part of the same piece of machinery.
Would love to hear what other people think.
Edit: Didn't see biokemist's post but I posted pretty much the same thing.
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