This is another nineteen seventy seven one dollar federal reserve note but this one is missing the third printing. The note was printed without the serial number and the seals making it very scarce. When I look at the front of the note it’s quite obvious to me that there is something wrong. Considering the condition of the note, it circulated quite a bit putting it in the F to VF condition.
It's amazing that it circulated that much before someone caught it and set it aside. Speaks volumes as to how little most people notice about the money that passes through their hands.
I had the offset data from your other thread still open, so I went and pulled what these actually do on the open market, because "very scarce" deserves a number. Completed eBay sales, last 90 days, dates included so anyone can check them: $20 1981, third overprint missing and printed on the back instead, $950, Sep 9, buy it now $1, missing green overprint, $500, Aug 4, auction Series 1977 $10, missing 3rd printing, $426, Jun 28, auction Series 1985 $5, missing overprint, $306.51, Sep 15, auction Four sales, median $463. For comparison, the offset notes in the other thread ran a $1 median of $145 across 13 sales in the same window. So a missing third printing is trading at roughly three times an offset ghost. The part I did not expect: the top sale is both errors at once. On that 1981 $20 the third printing did not vanish, it landed on the back. Offset transfer happens before the third printing, which means an offset ghost carries no serials and no seals either. From the face alone, a missing third printing and a full offset can look like the same note. Worth turning one over before pricing it. One more thing that might save somebody money. The words an owner would actually reach for return nothing. "error note missing serial numbers seals" gives zero sold listings. "missing overprint error federal reserve note" gives three. "missing 3rd printing" gives two. Same note, and the phrase you type decides whether you see a $500 comp or an empty page. Yours being F to VF, does wear even matter much on one of these, or is the error carrying the whole price?
