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What Type Of Error Is This $1?

 
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Author Previous TopicReplies: 10 / Views: 575Next Topic  
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United States
66 Posts
 Posted 12/10/2022  02:18 am Show Profile   Bookmark this topic Add Igor22 to your friends list Get a Link to this Message
I'm not very knowledgeable in Notes. I received this $1 many years ago, and not sure of the exact terminology of the error.....I'm just guessing it is miscut, due to the front and back printing being perfectly aligned together. Not sure....can any of you help identify? Is this a good candidate for Grading/Certification, or are these sort of common among collectors? Any ideas of value?

I've always liked the different serial numbers on the far left vs the serial numbers in the center. Sorry for the slight blur in the photos, but I refuse to remove the Note from the holder.



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United States
6680 Posts
 Posted 12/10/2022  02:40 am  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
I believe your note was cut like this from a BEP issued sheet AFTER it left the printing facility and the Treasury.

One of the biggest arguments against selling uncut sheets to collectors is the fact that there are unscrupulous individuals that have been buying these sheets and making "errors" like yours and selling them online as "faux errors".

Others may have a different opinion.
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United States
3973 Posts
 Posted 12/10/2022  03:54 am  Show Profile   Bookmark this reply Add SteveInTampa to your friends list Get a Link to this Reply
Sky nailed it. It's a faux error.

New collectors have to do their homework or they'll get burned.
Edited by SteveInTampa
12/10/2022 03:56 am
Bedrock of the Community
Australia
20593 Posts
 Posted 12/10/2022  06:35 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I agree with the two previous opinions.

This 'faux error' only has a redeemable value of 50 cents, because it only has one complete serial number.
The other piece has zero redeemable value, because it would have one incomplete serial number.
So not a good idea to muck around with uncut sheets, the whole lot would have had a much higher collector value.

It looks like this piece has been guillotined and not scissored, because the cut edges are straight, but
the margins have a varying width, which lends credence to the fact that the original uncut sheet has been interfered with.

Pic has turned out quite nicely, despite the holder.
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Learn More...
United States
75091 Posts
 Posted 12/10/2022  08:03 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Live and learn!
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United States
718 Posts
 Posted 12/10/2022  10:01 am  Show Profile   Bookmark this reply Add datadragon to your friends list Get a Link to this Reply
This note has a Cutting Error that affects its horizontal alignment and normally can be worth grading when in a high condition as they can be worth hundreds, but as others have stated it appears to be man made rather than a true error. Banknotes are printed in sheets, with margins separating the individual notes. When the cutting process is done well, the margins appear evenly spaced around the edge of the notes, and this is an important factor in the grade of a banknote. When the cutting is done exceptionally poorly, a Cutting Error can occur. Typically, in order to qualify for a Cutting Error, a small portion of the adjacent note must be visible or (when the error occurs at the edge of the sheet) a small portion of the note's design must be cut off.

If the serial number is from a known uncut currency sheet, that leads weight to it being made made by the way. Uncut sheets have serial numbers above 96000000. That way you can tell if someone is "creating errors" and hopefully save some money before you buy something that is not a true error. If you dont agree with the others opinion(s) that it is man made, Collectors and dealers who have error notes can submit them to PMG for certification under an applicable grading tier with "error" or the specific error noted under the Variety/Pedigree column on the submission form. There is no additional fee for this service. People on the forum are giving their opinions but ultimately its up to the holder to decide to get something officially looked at for a cost or not.

Faulty Alignment (aka Miscut) is a different error. Faulty alignment errors are characterized by once side of a note being properly centered, while the other is shifted to some degree. Shifting may be only minor or may be dramatic. These errors are relatively common and widely collected. https://papermoneyguide.com/currency_errors.html

Edited by datadragon
12/10/2022 5:11 pm
Valued Member
United States
66 Posts
 Posted 12/10/2022  12:02 pm  Show Profile   Bookmark this reply Add Igor22 to your friends list Get a Link to this Reply
Thank you all for the replies....as stated, I am not knowledgeable in Notes.

Unfortunately this is another example of my Grandparents being duped on their gift purchases over the years. Many times I had received "Rare Error" coins as gifts my Grandparents had found on eBay, which were actually just damaged coins described as errors. After I had come across the eBay invoice at my Grandparents house for the "Rare Error" (Road Kill) coin I was gifted the week before, I tracked down the seller and got the money back...which I left in a random drawer at the Grandparents house. At that point I had convinced the Grandparents that numismatics gifts would be best purchased directly from the US Mint. The next 5 years of birthday and Christmas gifts were Proof Sets, Mint Sets, and the occasional Silver Eagle. I never told the Grandparents about the actual evaluations of the gifted "Error" coins or the mysterious cash that showed up in the kitchen drawer.

Thank you all again for your knowledge.
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3376 Posts
 Posted 12/10/2022  4:34 pm  Show Profile   Bookmark this reply Add morgans dad to your friends list Get a Link to this Reply
Great Topic. Is it Not true that Most Bills with a serial number starting with 99 are from the U S Mint in sheets. ?
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718 Posts
 Posted 12/10/2022  5:17 pm  Show Profile   Bookmark this reply Add datadragon to your friends list Get a Link to this Reply

Quote:
Is it Not true that Most Bills with a serial number starting with 99 are from the U S Mint in sheets.


Uncut sheets have serial numbers above 96000000 and can be looked up for the year it was printed. So I mentioned in my reply above that if the serial number is from a known uncut currency sheet with high serial which is the case here, that of course further leads a lot of weight to it being made by a person as a fake error rather than something legit. That way you can tell if someone is likely "creating errors" and hopefully save some money before you buy something that is not a true error. The OP mentions that their well meaning grandparents may have just been duped with gift purchases sometimes.
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United States
6680 Posts
 Posted 12/10/2022  5:25 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply

Quote:
Great Topic. Is it Not true that Most Bills with a serial number starting with 99 are from the U S Mint in sheets. ?


In the early days of sheet sales by the BEP (series 1976, 1981, 1985 & maybe others, too) you could find sheets that did not conform to the 99xxxxxx serial numbering that we see in the more "modern" era of today.

You just have to be careful and do your homework when buying notes with cutting errors. I'd be extremely leery of any error note advertised that has a serial number beginning with 99. I'd be cautiously leery of any other cutting error note no matter the serial number.

The online Sellers are pretty crafty at creating these things.
Valued Member
United States
90 Posts
 Posted 12/19/2022  9:43 pm  Show Profile   Bookmark this reply Add VictoryHighway to your friends list Get a Link to this Reply
I'm pretty sure the new uncut sheets printed on the LEPE machines do not have a reserved serial number range, so you'll need to be careful when it comes to Series 2013 and later notes.
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