Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?


Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

Del Monte $20 Bill Set To Sell For Nearly $60,000 - Barring Banana Skins

 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 14 / Views: 463Next Topic  
Pillar of the Community
723 Posts
 Posted 01/18/2021  03:41 am Show Profile   Bookmark this topic Add ckrakowski to your friends list Get a Link to this Message
https://www.theguardian.com/us-news...cker-auction

Del Monte $20 bill set to sell for nearly $60,000 - barring banana skins


Officially, it is classified as "an obstructed printing error with retained obstruction". In reality, it appears to be a simple slip-up.

A $20 banknote which had a sticker from a bunch of bananas attached to it before it was overprinted with security numbering is now up for auction at a Texas dealer, the rare error elevating its worth to $57,500, almost 3,000 times its face value.

The so-called Del Monte banknote is unusual, and so valuable, because the sticker is still affixed and clearly shows a serial number and US Department of the Treasury seal printed over it, according to Heritage Auctions of Dallas.

"Most obstructions fall off shortly after printing, leaving behind a blank area of paper lacking the design, but errors with objects that 'stick' to the note and enter circulation are very rare," a description of the lot on the seller's website said.

"When this note was printed at the Fort Worth western currency facility, it went through the first and second printings normally before the Del Monte sticker found its way onto the surface," the seller continued, describing the misprint as "one of the greatest paper money errors in history".

Bidding on the banknote, from the US treasury's 1996 design series and released into circulation in 2004, will end on 22 January. According to the Heritage Auctions website on Sunday afternoon, the highest bid was $57,500, which would actually cost the bidder more than $69,000, including a buyer's premium.

The banknote sold at auction in 2006, for more than $25,000. Two years earlier it was "a bargain" at $10,000, when it was sold on eBay by a student in Ohio who received it as part of an ATM withdrawal.

The original estimate for the current sale was between $25,000 and $50,000, Heritage Auctions said.

All US banknotes produced since 1968 go through three print stages, the Bureau of Engraving and Printing (BEP), which manufactures paper money for the US treasury, says on its website.

The colorful banana sticker, bearing the words "Ecuador Del Monte Quality" and the number #4011, would have been added after the first two stages, printing the front and back of the note, but before the final print that added the security logo and individual identification detail.

Because of this, Heritage said, "most would conjecture that this error note was no accident and probably the result of some very bored or creative BEP employee".

Banknotes produced in Fort Worth have been found with "band-aid, paper fragments, scotch tape and wood shavings" attached, Heritage Auctions said.

Misprinted banknotes are prized by notaphilists, those who collect paper money. Currency featuring overprints, mismatching serial numbers, misalignments and missing ink regularly sell for hundreds of dollars on eBay.

Heritage claims a world record for the most expensive banknote of its type ever sold, $384,000 for a 1934 federal reserve bill which had a face value of $10,000 in a September 2020 auction.
Pillar of the Community
United States
3026 Posts
 Posted 01/18/2021  06:25 am  Show Profile   Bookmark this reply Add SteveInTampa to your friends list Get a Link to this Reply
This note is getting a lot of attention on other forums as well as the main stream media. Let's see this Beauty !

Bedrock of the Community
Australia
18114 Posts
 Posted 01/18/2021  07:16 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
My guess:- A deliberate concoction by* printing technicians*.
I can't figure out any other way how such a Note could be printed.

*Reminds me of the 1913 Liberty Head nickel.
Bedrock of the Community
Learn More...
United States
54664 Posts
 Posted 01/18/2021  08:48 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Very cool, but almost $60K?
Moderator
Learn More...
United States
95801 Posts
Pillar of the Community
Learn More...
United States
9363 Posts
 Posted 01/18/2021  11:19 am  Show Profile   Bookmark this reply Add TNG to your friends list Get a Link to this Reply
And another BEP employee is on workers compensation because he slipped on a banana peel!
My favorite album!
Image hosting is provided by CCF. Thank you for your generosity!
World's Fair Exposition Medals and Tickets
http://www.coincommunity.org/galler...p?album=2020
Edited by TNG
01/18/2021 11:19 am
Moderator
Learn More...
United States
95801 Posts
 Posted 01/18/2021  12:04 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
And another BEP employee is on workers compensation because he slipped on a banana peel!
Oof!
Valued Member
Learn More...
United States
168 Posts
 Posted 01/18/2021  12:07 pm  Show Profile   Bookmark this reply Add Blind Squirrel to your friends list Get a Link to this Reply
And the #4011 bar code isn't even for organic bananas!
Pillar of the Community
United States
1734 Posts
 Posted 01/25/2021  12:29 pm  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply
If I worked very hard, think I could peel that sticker off?...
Pillar of the Community
United States
575 Posts
 Posted 01/25/2021  12:37 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
Banana Republic!
Valued Member
Learn More...
United States
339 Posts
 Posted 01/26/2021  12:57 am  Show Profile   Bookmark this reply Add Snoopydoo to your friends list Get a Link to this Reply
Ok, I have to first make a re-statement of fact about this, then present some other item and factual information about that item, and then ask a question about why this item and the one I present are not both labeled as an "Error". Please bear with me.


Everyone, including PMG for Grading, and Heritage Auctions for selling it, have labeled it, and marketed it, and sold it as an "Error"
So even though it was either done on purpose, or it was an accident, it is labeled an "Error".

Now, most of you know me on here for the 2013-B Star Note Duplicated Serial Numbers Project.

We know for Fact, that there is no instance in the world, that a United States of America, $1 Denomination Bill, from the same Series, from the same FRB, should ever, ever, ever have another with the exact same Serial Number!

I know I'm being very elementary here, but I have a serious point to make, in challenging a corruption to our hobby.
If something un-planned happens in the production of our Nations Coins and Currency and it gets past quality control and makes it out into the public, it is an "Error" Can we all agree on that?





The First pair I sent in for grading, I asked for and received the label saying Duplicated Serial Numbers Issued. When I sent my second pair in, (the one pictured above) I asked for the same label, with the addition of "BEP Error" at the beginning.
PMG wrote back saying they couldn't because it was too long for the label.
So I wrote back with it revised, still asking for the first part stating an Error, and abbreviated some of the end.
PMG wrote back still to long.
I wrote back now with a label request shorter than the original, but still spelling out it was an "Error"
I figured that would have to be ok, it was shorter than the first label.
Days then went by with no response, mind you I paid hundreds of dollars for this grading and for it to be done expeditiously.
PMG finally responded that at this time they were not willing to call this an "Error", but may change their mind in the future.
So all the lies about the label being too long, we see was Bull.

Now fast forward to Heritage Auctions who was contacted about these graded pairs of duplicated serial number Error notes, for appraisals. After having to contact them multiple times, they finally responded, and said they don't call these error notes, because they were printed at two different facilities.

So now to my Question,
How is a Banana sticker, either purposely or on accident an "Error"
And the Printing facility producing currency of the same denomination and the same series, and of the same FRB, with duplicated Serial Numbers not an "Error"?

This is a serious question of why Two supposed reputable companies, PMG, and Heritage Auctions, are trying to cover this up, and downplay this Error?

Yes, I'm upset, a Banana Sticker is an "Error" but duplicated serial numbers on U.S. Currency is not an "Error"!
Oh that's right it's a Felony to Counterfeit.
Edited by Snoopydoo
01/26/2021 04:24 am
Pillar of the Community
United States
3026 Posts
 Posted 01/26/2021  03:53 am  Show Profile   Bookmark this reply Add SteveInTampa to your friends list Get a Link to this Reply
First off, I'm not an idiot. The notes themselves are not errors. The fact that the BEP duplicated the serial numbers was the mistake or error, not the notes themselves. And can we all agree that using the word Mint for US paper money is criminal. Coins are minted at the United States Mint, paper money is printed at the Bureau of Engraving and Printing.

Edited to add - I went back and re-read all 8 pages of the thread dedicated to these duplicated notes and I was unable to find anyone using the term error. I read "matched pairs" and "duplicate serial numbers" quite often, but not error.
Edited by SteveInTampa
01/26/2021 04:42 am
Bedrock of the Community
Australia
18114 Posts
 Posted 01/26/2021  05:13 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Note: CFU Crisp Flat Uncirculated.
Coin Mint State (MS)
Pillar of the Community
United States
3026 Posts
 Posted 01/26/2021  05:28 am  Show Profile   Bookmark this reply Add SteveInTampa to your friends list Get a Link to this Reply

Quote:
Note: CFU Crisp Flat Uncirculated.

Wait, What !? I have yet to see an auction company of third party grading company use this phrase. I've seen CH-CU (choice crisp uncirculated ), CU (crisp uncirculated) and GEM , but not CFU. Where have you seen this used before please ?
Moderator
Learn More...
United States
95801 Posts
 Posted 01/26/2021  12:21 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
And can we all agree that using the word Mint for US paper money is criminal.
Fixed it.
  Previous TopicReplies: 14 / Views: 463Next Topic  
 
To participate in the forum you must log in or register.





Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2021 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2021 Coin Community Forums
It took 0.72 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05