Where can I find a good cheap source for US FRN error or freak notes? What kind of errors are nice looking to the eye, but will not 'break the bank'? I once saw a 1977 $10 dollar bill error with a little bit of the front printed on the back sell for like $40. Thats the kind of stuff I'm looking for. Cheap and neat looking! I just want to get started out with errors. I have nice examples of everything else S.C. stars and non-stars, FRN stars and cool serials, '29 National Bank Notes, Emergency Wars, etc. Now I am interested in getting some errors. Let me know what you think.
I do beleive that you are looking for what is called an offset error. From what I have been reading about these notes the wet ink transfers from either side of the note to the front or back of another note. Some are very light, medium and very dark from what I have looked up myself. Some are partial and some are full. I get the impression that depending on several factors of the transfer will dictate the cost assigned to that particular piece.
That indeed it what I am looking for. It was on the tip of my toung but I couldn't quite remember it. I wanted to say overprint but I knew thats not it. Thank you for reminding me.
I know this. I have almost been conned on numerous occasions, and I have seen actual coin & currency shops get ripped off like that too. Its just upsetting that even this business can be corrupt. Even I heard about some liquid chemical that can remove ink off of paper and transfer it elseware. Luckily I also read that if this crafty step was preformed, you will be able to tell by simply looking at where the misprint was suppost to be, you will be able to see a little bit left over.
Lower end, interesting errors will cost you between $40 and $150. I have a budget for these and had to bump it up because the ones for under $100 just didn't cut it. Make some contacts with some of the bigger on line dealers. If they can flip a note right away, they'll take less for it than having to post it on auction and waiting for it to sell.
You're interested in acquiring an offset error. My first recommendation is to purchase one that is graded and not raw. There are many people who try to make a quick buck by creating fake errors. I was able to pick up a nice one with a 100% medium/dark offset through Heritage auctions this past year. The value of offsets are generally tied to the amount or percentage of the note that is covered, as well as the condition of the note. Smaller note percentages have a smaller premium, but a higher grade of that will be worth more than a Fine example.
Don't forget to try your luck at strap searching! Like roll searching, just head to the bank in pick up $500 in $1's. Return the one's you don't keep. I thinking about heading to the bank myself for a couple hundred in $1 and a box of cents? Keeps me busy over the weekend... Hey it's better than yard work any day!!!!!
I agree with ronterry, finding errors in a strap is great. You can also fnid stars and other fancy serials. I usually then spend the cash to look through the change I get. Sometimes I'll get some silvers in there. The cycle of the hunt!
I've been looking throught straps of $1's for a year or two now. I've probably undoubtably gone through a mimimum of $10,000 in $1's. I've found my star notes and my fancy/low serial numbers. But I have yet to find an error.
