Very, Very unusual error note. Any Ideas?

I have an elderly customer who retired from the BEP. He has a $100 note he is bringing for me to look at and perhaps make an offer on. This note has two green seals (I haven't seen it yet-only his description at this writing) instead of one black and one green. He states that while he worked there he is at loss to explain the error. He says that there is a chemical in the black ink process that a scanner picks up. If that chemical in the black seal is not detected by the scanner the press shuts down. Even he says that it seems impossible that any bill escaped with such an error, but yet it happened and he has the proof. He has contacted (over the years several book authors), but as of this date no one has been able to help. Perhaps someone here at cointalk can provide some insight?

Any ideas and if he brings it to me as promissed what could be the possible value? It seems that it could possibly be unique?

Thanks

 

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No offense to you at all but there's a saying around here and it goes something like this. "If you don't have any pics, it didn't happen." When you get the bill please post some pics. My feeling is the bill is worth a very nice premium and I would easily pay twice the face value.

 

No offense taken. Hoping to get insight and a feel for value before the customer comes in. Hope to purchase and post pictures. However I am still curious if I do purchase and post pictures who can help with knowledge when even the BEP employee can't explain it.

 

Try to get a good scan and post it here before buying it. Rick Harrison always asks "Do you mind if I have a buddy look at it first?". You can do the same. If the seller says no, be suspect.

 

Did he mention how he found this impossible error? Not to cast doubt, but the man said the machines designed to prevent this from happening didn't catch it, yet he finds one bill with this error out of a run of millions...

Be cautious.

 

I find it hard to believe that none of the "book authors" he consulted recommended sending it in to a grading service for authentication.

 

In the U.S. Error Note Encyclopedia, there is a $100 note with the wrong color ink. The District seal and District letters are in green ink instead of black. Series 1990. New York.

Just the same, examine it carefully.

 

Thanks to all for advice.

Timewarp does the book suggest a possible value? I don't have that book..

 

This is a 2009 book so these will be ballpark figures.

FINE $250.00-----XF $500.00--------CU $1,000.00

disclaimer: I'm not an expert, just passing info I have.

 

Thanks very much. Now at least I have an idea on the amount I will offer.

 

The first thing that caught my eyes, was the fact that a guy that worked and retired from the BEP has a $100.00 note that has a defect as such. How did he acquire it? It has two green seals, both the same, or two seals that are not the same, but the same color. We need pictures. Need the series information too. This will give us a time element. Cannot give a correct reply, till we see pictures. Sound interesting.:hail:

 

I was able to purchase the note. Here are some pics

 

Whoa! That's really bizzarre. I can't say anything about it's value or genuineness though. See what SteveInTampa says. He's very knowledgable when it comes to paper.

 

How come the shades of green are different? Serials and right seal are normal, but the left seal, which supposed to be black, is slightly darker? Unless this is a shadow due to uneven light distribution during the shot... this needs a quality scan.

 

Very cool error caused ink fountain contamination. I don't believe anyone can truly authenticate the error by your scans, BUT, two different examples have sold before. First example is this $20, http://currency.ha.com/c/item.zx?saleNo=436&lotNo=14249 that sold in 2007 for $373, and this $100, http://currency.ha.com/c/item.zx?saleNo=424&lotNo=13411 that also sold in 2007 for $575. It might be worth your while to have a TPG authenticate and grade your example. Congratulations if it's real.

 

Conserning the seals my photos are not great. Please dispel any concerns of it being a fake. Among others the author of US Error notes encyclopedia is aware of this note and it is very real. I just got it late yesterday. Promised photos so I put them up. I do not have a scanner at this time so this is the best I can currently publish. The previous owner was also 20+year BEP employee. I also purchased several Horse Blankets and various other mint errors. I also purchased a 16 uncut sheet of 1988's that was only made for the employees. I think only about 3000 of this series were printed for the employees only. Many other very nice *notes-consecutive numbers in various denominations, etc etc.. Very nice collection.

 

Relax Steve. I wasn't saying yours is fake. I see many pictures/scans of notes here on CT where the poster wants the members to grade the note or tell the poster if it's real, or even what it's worth. I've provided similar examples of notes just like yours and if someone asked me to guess, I would say yours is real and worth probably somewhere around $600 to $800.

 

The OP says the Seller is a retired BEP employee. I wonder how he came into possession of it. Presumably it's an error intended for destruction. I thought that any notes not released through the Federal Reserve were illegal to own. Are BEP employees allowed to buy error notes and take them home?

 

No, not at all. Like all of us he is a collector. I only mentioned his employment to inform readers that he is experienced in currency as that was his job. He simply had a collection. When I first spoke to him on the phone I too assumed he got it from there, but I realized when I saw the other notes that he had been a long time collector as he had Horse Blankets. Sorry if it came off as he got it at the BEP.

 

SeveinTampa---I had not seen your reply when I posted my note. I realalized that another poster was thinking a fake and I wanted to clarify. Just so happened you and I were posting at the same time. Thanks for the info. BTW, if you want to see those Courtesy notes let me know..