How much is it worth?

I got a $200 offer for this error star note. Can anyone tell me if this is a reasonable offer or is the note worth more? The rear of the note is normal.

Thanks

 

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In my humble opinion $200 to $225 is reasonable.

 

That note looks a bit suspicious to me... have you looked carefully at the area where the missing seal is, to see if there are any remnants of an erasing job?

Dave

 

Not only is the note missing the black Federal Reserve seal, it is also missing the 4 black Federal Reserve identification numbers. In this case, (New York) they would be the number 2 .

 

[FONT=&quot]It’s a genuine error. One way to tell is the missing digits that occupy the four corners of the Federal Reserve Note. I have several other notes where the federal seal shift upward or downward in conjunction with these numbers. I believe the seal and these numbers are the same print. See example, notice the downward shift of the seal and numbers.
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I'm aware of that, I'm just saying that we see plenty of such notes that turn out to be fake.

Dave

 

I had the same thought as Dave - it looks to me like there might be paper abrading where the seal and numbers should be. A higher quality scan would help with that determination. But when I see a partial third print missing the first thing I do is look very closely at the paper where they should be.

 

You guys got me thinking now. Here's a better image, tell me what you think.

 

Hard to tell with all the .jpg compression. Might take the money and run myself. Star errors are pretty rare, if you have a magnifier or something else that lets you closely examine the paper surface, that might be the tell...

 

Examine the paper under magnification to see if the paper looks different where the missing printing belongs. It could have been removed with chemicals, with abrasives, or both.

Better yet, I would get it certified. I am sure that certification will add more value to the note than the cost, because it's a star note and missing printings like these can be faked somewhat easily.

The book United States Paper Money Errors has a 1995 $1 star note with a missing back printing valued at $2500 in Fine, $6500 in Extremely Fine and $9500 in Choice Uncirculated. Even though this printing is less dramatic than a missing reverse, the notion is that front design errors are much less likely to escape the BEP, because QA staff tend to focus more on the obverse than the reverse because of the greater number of errors that can occur.

I would take that all this into consideration when putting a dollar amount on the note above. Uncertified, I would agree with the estimates above. If it were certified, the note might see excess of $1,000 at auction, in my opinion.

 

I don't care to know who reported my post but suggesting to "take the money and run" on a note that may have a fake error is pretty unethical and I will never do a trade with someone who has an attitude like that. Anyway, barring an apparent alteration such as signs of erasing, my recommendation to the OP is to send the note to a TPG. A reputable TPG will be able to authenticate the error and assign a proper grade resulting in a possibly higher return than what was originally offered for the note.

 

I had one I thought was a legitimate error like this and even after I studied it under magnification and all, I was still convinced. It turned out to be a fake error due to chemical removal of the seal. Under stronger magnification, the ink could still be seen in some fibers, and they had abrasions. Look closer since this one seems to be fake from the scans.

 

Thanks everyone for all the comments and suggestions. I definitely don't want to sell this note now that there is a hint of its authenticity. I guess my next step would be to send it to CGA and have them check it out. When I get it back I will post the results here.

 

This is one of my notes:

 

Good luck! :thumb::thumb::thumb:

 

I finally got the note back from PMG. And I believe it's real .

 

Nice work! Insufficient inking it is.

Any plans on selling it?

 

Yes, I intent too. Probably at auction.

 

I'm glad you took the advice and had it authenticated. Good luck at auction!

 

Glad to hear that it came back authentic! You can definitely sell it at auction or ebay and make aorund $250 for this note.