Hey Bill Guys - Star Note?

I am a coin guy and clueless on paper money but it seems from what I picked up here that there is some significance to star notes. I was just handed this well worn bill at the drive thru. Folded, stained and well used…. Is this a spender or should I tuck it away?

 

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Randy, I see it as a minimal novelty, worth nothing more than face value. To me, it's a spender. Others might say sock it away, it cost you nothing more than face. If that's the case, put it in a sleeve to protect it. Otherwise I'd use it as a tip to the valet parking attendant. YMMV

 

Rather what I suspected….. Thanks Russ!

 

I save all these I find and look them up. Out of about 200, I have never found one worth more than face value. It's still fun to find.

It's been a fun little savings account. It's up to about $600. Just found out my bartender at my local bar is a collector. He keeps them in a paper sack. I'm going to sell mine to him at face value. Maybe I'll get a free drink.

 

I keep all the star notes I find regardless of the condition. I now have over $2000 in star notes at face value. Some are only worth face value and others are worth more.

 

I would keep iit if I were you. I Iike what @Collecting Nut does with his. If you do keep and I need a dollar one day real bad I know who to call.

 

Your Note is in the "less rare" category. It was part of a 3,200,000 run with 14,080,000 total printed. I'm like @lardan and @Collecting Nut, I keep them all.

 

Makes me feel good to know I’m not alone in keeping star notes.

 

Basically when they print a run of notes, they print of a set of "star" notes as a backup replacement, in case any of the main run of notes are defective in some way to the point they're not fit to be issued. They're definitely rarer than non-star notes, but only of especially high value if the note itself is rare or it's a low or "fancy" serial number.

Still fun to see and I often set aside $1 and $2 star notes. $5 and above I'll just spend them if I get them unless there's something else reasonably special about them.

 

For some strange reason I started to collect, from circulation, $1 bills that contain triple digits (like 111 through 999) anywhere in the serial number. I absolutely know they are not, and will never be, worth more than face value. However, I have this uncontrollable desire to collect them. So, in this case it is a keeper for me (star or otherwise). Weird isn't the word for it!

 

Thanks!

 

Absolutely a coin collector thing.
We all keep what appeals to us.
"That one doesn't have any value."
"Yes, but it looks cool, I think I keep it."

 

Trodden wrote:

“Basically when they print a run of notes, they print of a set of "star" notes as a backup replacement, in case any of the main run of notes are defective in some way to the point they're not fit to be issued.”

I don’t believe this is correct. From Wikipedia:

“As quality control finds defective notes in the printing process after the serial number has been overprinted, they are taken out with their serial number written down and replaced with another banknote printed specifically for this purpose, so that the number of banknotes being printed stays the same in each production batch. This saves time and money compared to re-printing exactly the same serial number that was used before. It is rare that the replacement banknote has the same serial number as the original faulty one. A replacement note will have its own serial-numbering system that separates it from the normal numbering system.
As quality control finds defective notes in the printing process after the serial number has been overprinted, they are taken out with their serial number written down and replaced with another banknote printed specifically for this purpose, so that the number of banknotes being printed stays the same in each production batch. This saves time and money compared to re-printing exactly the same serial number that was used before. It is rare that the replacement banknote has the same serial number as the original faulty one. A replacement note will have its own serial-numbering system that separates it from the normal numbering system.”

Star Notes are not printed for every run, “just in case” — That would be horribly wasteful and expensive. Star Notes are printed as replacements for defective notes.

 

Fair enough, I stand corrected: they're only printed after notes are found to be defective to replace them, rather than being printed in advance in case some turn out to be defective.

 

Most, if not all of the new series introductions start with a print run of replacement notes. They are printed before any regular issue notes are printed.

And, print run serial numbers are ran backwards. The highest serial numbers are printed first.

 

I always thought the highest serial numbers were printed first so they end up in the final stacks with the lowest number on top. I guess I understood wrong.

 

OK now I'm really confused, because these statements seem to be the opposite of each other; which is it? Are they printed first to be able replace notes that turn out to be defective, or are they printed last after it's known how many defective notes need to be replaced?

 

My understanding is that replacement notes are printed early in the series so that they can use them as needed. Here’s an example. It’s the series 2013 $1 FRNs. You can see the Dallas replacement notes printed first.

 

How can notes be replaced if there are no star notes to replace them?

 

Sometimes, when they’re in a pinch, the BEP will use left over replacement notes from the previous series.