Trying To Find Value And Rarity Of This Misprinted Dollar

Very cool faulty alignment find. Condition is going to bring the value down. You can find what similar notes have sold for on ebay...or just whatever Steve says.

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John1

First of all I like @SteveInTampa. He is very knowledgeable about paper money. I learn more about paper money from reading his posts like Gilbert paper. In this case however, I have to disagree. Maybe after reading this he will change his opinion about this error note. First the 2003 $1 Minn district in PMG 64Q for $2,160 is a major 2nd print shift error. The seal and serial numbers are both in Washington's portrait- there is a major bump in price for that. The 2nd note is the same major error but with an even more extreme 2nd print shift and it's a Gem 66Q- that's why it's a $3000+ dollar note. Not a lot of Gems to around.

What we have here is about a 20% face print shift on a circulated note. Similar 20% face print shifts in Ch CU sell for about $160 to $200 in major auctions. So a circulated 20% 2nd print shift error would go for about $80 to $100. The price on these types of errors rise dramatically the greater the shift. The difference between a 20% shift and a 30% shift can be almost double in price. There are a lot more 20% face print shifts available than the major shifts where the seal and serial numbers are inside the portrait. That is why the difference in price is so dramatic.

I originally bought this alignment error raw for under $2K. I sent it in for grading and received it in a holder attributing the error as a Cutting Error. I contacted Jennifer at PMG customer service and asked that the note be re-holdered with the correct messaging of Misalignment Error, which they did for no charge. I rarely sell any of my collection but I received a very generous offer from a dealer/friend, and I sold it. After printing the back and face and before the overprint, the 32-subject sheets are cut in half lengthwise. The 16-subject sheet was mis-fed into the COPE press and this error occurred. This is considered a major misalignment error.

Misalignment error is the more accurate term because both the the 1st and 2nd print are out of alignment. Print shift is commonly used when only one of the prints is out of alignment like the the overprint or just the face print like in the OP's note.

You're welcome, but may I suggest that you try to flatten the note a little, unfold the corners and take new photos before posting auction photos. Like put in under a book for a day or two. The better presented, the better you're results may be.

Yes. There's not as many as there used to be. The BEP has computers examining the sheets as they're printed, but some still get through.