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<p>[QUOTE=&quot;Numbers, post: 2403984, member: 11668&quot;]Several things coming together:</p><p><br /></p><ul> <li>The H..* run was originally left off of a BEP monthly report by mistake.&nbsp; So when they started to appear in circulation, nobody knew how many of them had been printed.</li> <li>The H..* run was the first run of star sheets printed on LEPE.&nbsp; Unlike the COPE numbering pattern, the LEPE numbering pattern doesn&#039;t allow us to calculate the number of sheets in the run from the plate positions of observed notes.&nbsp; So there was no good way to even estimate the number printed.</li> <li>When LEPE first started production, in late 2012, it was intially only printing a few runs of $1&#039;s each month.&nbsp; So the LEPE H..* notes, that were only being used in LEPE printings, trickled into circulation *very* slowly at first.&nbsp; Thus they developed a reputation for being scarce.</li> <li>In the COPE system, nearly all serial numbers ending in 9999 or 0000 were replaced by star notes.&nbsp; Savvy collectors (and bank tellers) had gotten used to the fact that pairs of short-run star notes could generally be found by looking for packs of currency that ought to end in 9999/0000 rollovers.&nbsp; But LEPE doesn&#039;t do that, so even if you had access to a large supply of new currency, the H..* notes were a good bit harder to find than the typical short-run stars.</li> </ul><p><br /></p><p>The combination of all of those factors meant that, initially, the supply of H..* notes in the market was extremely thin--and nobody had any way of knowing whether that was going to change.&nbsp; So the prices got bid up to surprisingly high levels, and from there the phenomenon fed on itself.&nbsp; Now that the whole run has made it out of the BEP, I doubt that the H..* is too much scarcer than any other run of 320,000 stars--but it probably holds more appeal to some collectors because of the publicity it got.</p><p><br /></p><p>The run I really wonder about is the 2009 $1 K..*.&nbsp; That one had 640,000 notes printed, but it was produced shortly before printing of 32-subject $1&#039;s ended, and most of the run likely never left the BEP.&nbsp; I suspect that these are going to be a good bit scarcer than the H..*, even though as a &quot;normal&quot; COPE run they attracted a lot less attention.[/QUOTE]</p><p><br /></p>

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