San_Miguel98 Posted February 22, 2007 Report Share Posted February 22, 2007 i'm a n00b when it comes to u.s. notes, but i've taken a special interest lately in collecting the small sized variety. does anybody know much about errors? i know there's a book out there called 'the error note encyclopedia', but i don't have access to a library. i'm trying to get more info on this trio, such as how it happened, how often it happens, the number of known prints, value, etc. can anybody help? all are in unc condition. i'll be coming home for 2 weeks of r&r in april, and i'm expecting a rather large package full of u.s. currency waiting for me. Link to comment Share on other sites More sharing options...
AuldFartte Posted February 22, 2007 Report Share Posted February 22, 2007 I know nothing about currency errors except that I think those ones are really cool !!! Link to comment Share on other sites More sharing options...
J.O.N. Posted February 22, 2007 Report Share Posted February 22, 2007 does anybody know much about errors? i know there's a book out there called 'the error note encyclopedia', Beautiful notes... The book you mention is out of print and has been for quite a while. the book that I consider a 'must have' for error collectors is "United States Paper Money Errors: A Comprehensive Catalog & Price Guide" by Dr Frederick Bart; the 2nd edition is current, it came out in spring 2003. it retails for around $25 from booksellers, though I've seen it for less from currency dealers. The author was selling it for about half that price on ebay and he'd autograph it for you upon request. I'm at work right now and don't have my copy with me, I'll look your bills up later and try to share more information this evening. Link to comment Share on other sites More sharing options...
J.O.N. Posted February 23, 2007 Report Share Posted February 23, 2007 The error you show is called a 'inverted third print' or sometimes 'inverted overprint'. It's really pretty simple how it happens, after the back is printed (the first printing), and the main part of the front-the picture, the denomination, and so on, the third print happens, since it goes over the 2nd printing it gets called the overprint...anyway, after the 2nd print if the stack of sheets gets turned around (or just a single sheet if it had been pulled out for inspection), the overprint (treasury seal and serial numbers in green-Fed district seal and branch indicators in black) will be applied upside down. Since it sort of looks like the seals ans serials are in place, these do slip out from time to time. How many have been produced?...who knows, they are mistakes, none are supposed to reach the public...errors are compared by relative rarity on a scale of 1 to 9; 1 is very common, like a slight shift of the overprint or a slightly off center note- often little or no premium to them... 9 is nearly extremely rare-known examples might possibly number ten or twenty, like a mismatched denomination...these usually sell in the tens of thousands of dollars. Your error is listed as R-5 and in Crisp Uncirculated each has a retail value of around $300. A note about values, retail value is what the book says it's worth-this is also the price you might expect to pay if buying it from a dealer, though the book is nearly 4 years old, so it's not unreasonable. A better way to determine value is check recently completed items on ebay...I just did that and two uncirculated $1s with that same error showed up, one was graded 63 by CGC and sold for $600, the other-ungraded but claimed to be "CU" sold for $235.50 Link to comment Share on other sites More sharing options...
San_Miguel98 Posted February 23, 2007 Author Report Share Posted February 23, 2007 wow, thanks! that was exactly the information i was looking for. i'll definitely pick up that book as soon as i get back. errors notes are pretty fascinating, and seem like the logical direction to go if i ever finish collecting the other small sizes. Link to comment Share on other sites More sharing options...
J.O.N. Posted February 23, 2007 Report Share Posted February 23, 2007 wow, thanks! that was exactly the information i was looking for. i'll definitely pick up that book as soon as i get back. errors notes are pretty fascinating, and seem like the logical direction to go if i ever finish collecting the other small sizes. glad I could help, the book is $25 (incl shipping) from the author at executivecurrency.com, I found it for a few dollars less by searching around a bit, through amazon it was $19+$3.50 s/h. Link to comment Share on other sites More sharing options...
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