It's on a 1963-A $1.00 FRN. It does have a number of folds but I liked it. Despite the folds it's still in the EF range, just not graded. This type of error is on the scarce side. Enjoy!
I purchased it! Not a great price but at an average price. It could have gone higher but I'm pleased with the price I paid. It's a nice error.
Is this type of error caused by an ink transfer from one sheet of notes to the sheet on top of it as the sheets are stacked?
No. Normally the currency sheet passes between a printing plate and an impression cylinder. When the sheet fails to pass between the two, the ink is transferred to the impression cylinder, which passes it on to the next several sheets getting lighter each time.
First printing is the back of the note, second printing is the front of the note, and the third printing is the bank seal info and the serial number. The error would have occurred during the second printing. The error is fairly dark, so this was probably within the first two or three printings. I think someone once told me that this error slowly disappears from the first to about the eight or ninth printing. The darker the wet ink transfer the more desirable the note.
I'm not sure how many sheets get this type of printing before it goes away but it is on the dark side so one of the first to happen. Hopefully you read the entire thread as it was explained how this rare error occurs.
It is referred to as an offset error. Look up offset printing and you will understand where the name comes from. It is one of the most common types of errors.
My apologies. The dealer I bought this from stated it was a rare error. However, after a few pm's and some research it appears to be fairly common. The dealer offered to buy it back but I'm going to keep it as the price was low enough I can't get hurt.