The paper is real, the threads are in the paper. Under a microscope 30x magnification, the threads are visible, the print overlay is identical across non-white notes as well as this note. It is unusual. The picture requirements are small here but I was able to resize and post a picture. If some one reprinted a one dollar this nice on bleached paper, maybe a bleached out one dollar bill, and then reprinted...hmm...well, they did a great job and they must have access to original print type.
Has anyone seen one anything like this?

Has anyone seen one anything like this?
























