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Replies: 39 / Views: 8,777 |
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Pillar of the Community
United States
4637 Posts |
Congratulations on the grade. I looked through my error guide, and there are zero examples like yours shown with notes titled Insufficient Inking. Your note shows up multiple times under Missing Overprint. I hate to say it, but I think PMG got it wrong. How does both the black and green ink used in the overprint run out at the same time ? PMG mislabeled an error note I submitted a while back. I had to send it back to them to get the note reholdered with the correct description. Cutting Error was wrong.  
Edited by SteveInTampa 10/20/2020 4:40 pm
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Pillar of the Community
United States
7624 Posts |
Your note is missing the complete 3rd printing (a two color process) and is not an "insufficient inking" error. PMG missed it. If the dealer quoted you 40$ for grading but is now charging you 60$ get your note from him and NEVER walk in that store again. He is trying to discourage you into selling the note to him because of the added costs he's sticking you with! You are better off selling your note on ebay in a true auction format or with a crazy buy-it-now price. Ultimately, the note will bring what it is truly worth! You can also get enough quality posts here and then sell it here. Good luck and thanks for stopping by!
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Moderator
 United States
189142 Posts |
Quote: Here are the pictures of the encapsulated bill with the grading. He said we have a pretty valuable note here, just 6 pts from perfect. Excellent! 
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New Member
 United States
15 Posts |
If this is incorrectly graded then how could I sell it properly? I called the place that we used and told him what you guys said and he said he has never had one case of them making a mistake in all the years he has been dealing with them. So therefore this could be a very rare bill. I agree with you, I think this bill was stuck to the back of another bill and missed the stamping. Reason is because the story from my sister in law is that her mom told her that she worked for a high dollar retail store and it was her job to count the new money. This particular pile kept coming up $51. So she counted them one by one by one again and noticed one a little thicker but the edge was lifted. She literally peeled this one off the back of the other and saw that it was missing the serial numbers. So she took it out and replaced it with one of her own dollar bills.
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Pillar of the Community
United States
7624 Posts |
Ok... IF there is evidence of embossing of the seals and serial numbers then the note is under inked. If there is no embossing then the note missed the 3rd printing. PMG got to examine the note in-hand; all we get are pictures. Evidently PMG saw embossing of the 3rd printing and rendered their opinion appropriately. I apologize.
There have been other series 1977 $1's with insufficient inking sold by Heritage Auctions that have sold in the 200-300 $ range. In my opinion your note would fall into that value. It is what it is!
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New Member
 United States
15 Posts |
Yes but we have the bill in our hand and there is absolutely no feel of any kind of embossing whatsoever. There is no indent, now touch of ink and no raised paper. It is completely flat. Now I am sure they look at it under microscopes so maybe they did see something we couldn't see or feel. The dealer said to put it on ebay at $950 so he seems to think that this is a very rare bill.
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Pillar of the Community
United States
7624 Posts |
Let us know when it goes up on ebay. It'll be interesting to see how it does. Good luck!
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Pillar of the Community
United States
4637 Posts |
The note can have evidence of embossing AND be a Missing Overprint error. Typically this error occurs when two half-sheets are accidentally fed into the machine, one on top of the other. The upper sheet receives the overprint and the lower sheet is protected from the ink but still receives some embossing. This scenario happens most often.
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New Member
 United States
15 Posts |
Thanks for all your information and guidance. We are on a journey to see what it is we are going to do with it. We called his sister in CA yesterday to get them involved as we don't want to make these kinds of decisions by ourselves. Thanks again! Ya'll have a great day!
Edited by Sunnee50 10/21/2020 08:52 am
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Pillar of the Community
United States
781 Posts |
I have enjoyed reading about this bill! Nice to see someone find something interesting AND also learning about the grading process!
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Valued Member
United States
235 Posts |
It's worth a couple hundred bucks. It's NOT a one of a kind as ive owned missing 3rd printing error notes in the denom of $5 and $10.
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New Member
 United States
15 Posts |
We got $300 for it from the collectable coin place that sent it out to get graded.
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Pillar of the Community
United States
7624 Posts |
If you are satisfied with what you got then that is really all that matters isn't it?
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New Member
 United States
15 Posts |
It was my husband's bill that his mother left. He had to split it 3 ways after we were reimbursed for the grading cost, which was $60. So that left everyone getting $80. Better than nothing. Can't say we are happy or disappointed because it is what it is, right? We are not about greedy. We just needed it to be fair.
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Pillar of the Community
United States
7283 Posts |
Hey $80 is $80. Congrats on the sale. My dad left me a few coins that didn't fit in with my collection and I sold them off also.
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Replies: 39 / Views: 8,777 |
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