Okay, so I went strap searching today. I looked through $1,200 in singles. I will post my results over in the strap stackers thread, but this note deserves special attention (or at least I hope so). I give you, what I hope is a significant error find: I rarely ask this question, and I only ask it when I think it's necessary; What's it worth?
congrats on your error find there ....thats definately a keeper.i myself dont know the value of that one.
Nice find! I think that's called a misaligned overprint. A similar one sold for about $10 on eBay last month.
Nice catch. In general your error is a kind known as a 'misaligned overprint'. PMG typically indicates these as 'misalignment error' on their holders. Your note qualifies as this kind of error because it overlaps a portion of the design it was not intended to be printed over, however those elements that have shifted are not too significant. The more eccentric the shift the more of a premium such errors tend to fetch from collectors. Of course condition matters as well, and your note has been through a lot. This kind of error happens in the third print stage and such errors involve the SN, seals and District numbers. What we think of as 'shifting' is usually due to improperly fed sheets of paper. I would guess based on the condition of the note about $20 on eBay, but you really need to get a scanner for your notes and better images if you were selling in an online auction. As a paper collector you really need a scanner because these images are very fuzzy when enlarged. I can hardly read if that' a 2006 or 2009. If I saw this note on eBay with these pictures I'd avoid it and possibly be suspicious of the notes authenticity. I doubt you intend to sell it, but you should try to get better images so you can really show it off! :thumb:
Congrats on your find Travis! I still have yet to find an error note in circulation. Maybe I will become a strap -searcher as well one of these days.
Well, it won't make you rich... but it's definitely worth more than the $1 you paid for it! Very nice find! Especially in circulation!! Congrats!
Anybody know how we determine how many of these shift errors on this paticular series and block run would have gotten into circulation before they would have fix it?maybe some of the 2006 san francisco stars were printed because of this error?i sometimes find this series/block run ive never recall it ever being far from its normal position without it being misaligned overprint.
This isn't the sort of error that would affect a whole batch of consecutive notes. One sixteen-note half-sheet went through the overprinting press off-kilter; the surrounding sheets were most likely normal. And alignment errors like this aren't all that rare, as errors go--you could probably collect a whole block set of them if you wanted to search long enough. Also, stars aren't printed "because of" any particular error. Stars are printed in advance, before there are any errors at all, and then are used to replace whatever errors happen to be found. The district of the star note doesn't have to match the district of the error note, either--so if the BEP *had* caught this error, they wouldn't necessarily have used a San Francisco star to replace it.
The first paragraph, I knew. Now the second? I've always been told that stars are printed *to replace* errors. And a couple of other reasons too like tracking and such. So does this mean that stars are printed for every FRB on every series? Isn't that a waste for when the stars aren't needed if no errors are created? You have me intrigued, because I have never heard this before...
The funny part is, Numbers is the info. Numbers knows like everything about paper money! I trust anything Numbers says, I just want to know how that would work... uspapermoney.info is Numbers' link... You can gain much paper money knowledge there.
Am glad I asked that question.i havent heard it been put that way either so now am really curious about that second paragraph.
Up until about 1983, they always matched the FRB of the star note to the FRB of the error note it was replacing. That meant that the BEP had to keep 12 separate supplies of star notes on hand for each denomination. And it meant that nearly every series had stars printed for every FRB. (Occasionally, in a short series, one or more FRBs would get through the whole series using leftover stars from the previous series, so that not every FRB would need stars printed.) From about 1983 onward, the FRB of a star note doesn't have to match the FRB of the note it's replacing. That way, the BEP doesn't have to maintain so many separate stocks of star notes. As a result, from Series 1981A onward, each series generally has stars printed for only a few FRBs. Whenever the BEP runs low on stars and needs to print more, they seem to pick the FRB for the new stars based on the FRB of the regular notes that they're printing at that time; but they keep on using those stars to replace notes of other FRBs too. As for the stars being printed in advance--that's sort of the whole point of stars. In the very old days, before 1910, whenever the BEP caught an error note they'd reprint a new note with exactly the same serial number as the error. Obviously, that was rather time-consuming. So they invented star notes to speed up the process. Before beginning the regular production, they'd print up a batch of stars. Then, whenever they discovererd an error during the regular production, they'd just replace it with a random star note. That saved them the trouble of individually preparing each replacement note to replace some *particular* error note. They do sometimes have some stars left over at the end of a series. If the next series still has the same design, then they just use those leftover stars as replacements in the next series (so it's perfectly possible to find a strap of 2009 $1's with leftover 2006 $1 stars in it). But if there's a design change, then they do have to discard the leftover old stars. Generally, they're good enough at predicting the error rate that they don't wind up with very many excess stars that go to waste. And as for where all the information comes from...most of it, I don't even remember exactly. It's pretty much common knowledge, if you read the reference books and hobby periodicals and stuff. Some of this information on star notes is probably in the introduction of the small-size book (Schwartz & Lindquist), or the other references like Friedberg, or Hessler & Chambliss; but I don't remember which of them goes into the most detail on this sort of thing. For the early history of star notes, Murray has a whole book devoted to large-size stars, 1910-1928. Just read everything; that's what I do....
Wow. I can't recall a single post you made where I didn't learn something from it. Thanks for the info Numbers!!:thumb:
