Newbie on notes: 1995 Premium Fed Res $10 Set: error?

I collects Canadian and Chinese coins but picked these up last night. 'USA Premium Federal Reserve Set. Includes 12 x 1995 $10 notes with same serial number and different letter prefix. Notes from consignor indicate 2 notes with errors. Housed in original green portfolio holder.'

I see they are actually selling on e-bay for at least $300 and I got it quite a bit less than that but it says two notes have errors. So would the errors make any difference to value.....no idea what the errors are at this stage.

 

Log in or Sign up to hide this ad.

We Would relaly need some photos of the notes to be able to tell you A) what the errors are, and B) Anything as far as value

 

Will post scans here when they arrive....marbury

 

Mismatched serial numbers command a significant premium. Mismatched prefixes even more so. If the errors are contained within a sheet, the premium increases further.

Considering that you bought it without much research on the subject, I figure the asking price was not exorbitantly high, and you probably did well.

But without photos, we can't say for sure.

I definitely look forward to seeing it.

 

I do believe this is the set you are speaking of...

http://www.moneyfactorystore.gov/series199510premiumfederalreserveset.aspx

These are currently Sold Out at the BEP....with notes coming from all 12 Fed Reserve Banks it only makes sense that they exhibit different letter (Fed Bank Letter's and Block numbers).
You failed to mention what the reported errors were or at least this is my take on it. Different errors have varing degrees of significance and value...so plese let us know what the errors are supposed to represent.
Images of the errors would be most helpful in order to make any determination.

 

Yes this is the set I am referring to and as I just won it in an auction in Quebec I cannot tell what the errors are. The auction house, which is well known and respected noted in their description of the lot that the 'consignor' said two errors....have no information about such errors as online lot descriptions are very brief. Some say this sort of set is a 'sleeper' but from the little I know (learnt in two days!) the sets are selling for quite a bit less than the BEP direct sale price......bit odd considering the limited number of sets.

 

Are you sure the notes have the same serial numbers? On a sheet, the last few digits of the serial number will be the same on all notes. This has to do with the way the sheets are cut, so that when the sheets are stacked on top of each other and then cut, the notes come out sequential. They will not be sequential on a sheet, however. When looking down vertically on the sheet, the fourth digit is the one that changes.

A single sheet should have the same federal reserve bank letter on the left side of the face. The notes' serial numbers should be all different, but have the same prefix and suffix letters.

However, we cant comment on any errors until you can post some photos.

 

This is the description so you will know what I have: 'USA Premium Federal Reserve Set. Includes 12 x 1995 $10 notes with same serial number and different letter prefix. Notes from consignor indicate 2 notes with errors. Housed in original green portfolio holder.

 

Understood. So these are individual notes, and not a sheet as I previously assumed. What you have is a set of $10 notes from each Federal Reserve Bank. The note pictured is the 2001 series, and not 1995 however.

When sold in sets from different federal reserve banks, they sometimes come with the same serial number on each note. However, the prefix to the serial numbers will differ, either from the print range and/or the federal reserve bank.

The first letter of the serial number from the "small head" series like 1995 identifies the fed bank it was assigned to. The "big head" series of 2001 has a two letter prefix. The second letter of the 2001 series identifies the fed bank.

[TABLE="width: 264"]

Bank
Letter
Number

Boston, Massachusetts
A
1

New York, New York
B
2

Philadelphia, Pennsylvania
C
3

Cleveland, Ohio
D
4

Richmond, Virginia
E
5

Atlanta, Georgia
F
6

Chicago, Illinois
G
7

St. Louis, Missouri
H
8

Minneapolis, Minnesota
I
9

Kansas City, Missouri
J
10

Dallas, Texas
K
11

San Francisco, California
L
12
[/TABLE]

This probably has nothing to do with the actual errors, as they might not be related to the serial numbers at all.

Since you have the 1995 series, you will likely have a set that looks like this:

A00005689A
B00005689A
C00005689A
D00005689A

et cetera

The errors could be margin/cutting errors, gutter folds, ink smears, or a variety of other things. It would still command a premium as I'm sure these notes are scrutinized by employees before being put in these holders, making them rarer than notes that make it into circulation.

 

Now sceptical about errors as having checked other paper money sets consigned to same auction the errors are mentioned in about 5 lots with exactly the same wording-so sounds a bit of a generic description. Anyway, see what arrives in the post.

 

Yes, thanks, I was aware that each note would come from a different federal reserve bank, hence the pictures and description in the album.....I imagine that the photo is just a 'stock' one then as from auction house......but I bought the 1995. I think the 1996 is selling for more though no idea why.

 

Dear Marbury518:

Just a FYI moment for you....
There is no Series 1996 $10 Note...Series date changes require major design changes or Administartion changes like the Sec of the Treasury or Treasuer. The Series 1995 (Small head) which your purchased was replaced by the Series 1999 (Large Head) design...thus the new Series 1999 with different Admin sigs as well. The Series 1995 Note was printed until the new design of Series 1999 went into effect and then to press.

 

Sure.I stand corrected......well, the 1999 seems to sell better then.....thanks, marbury

 

Bank note BEP 1995 set arrived

Presentation box with notes has now arrived. I will post scans........I understand certain high or low serial numbers are desirable....so any comments on what i have and if you can see any erros as I don't know what to look for. Got hit with 70 dollars customs charge and got lost serval times trying to find the depot to pick it up......what joy.

 

More notes

 

More notes 2

 

More notes 3

 

More notes 4

 

more notes 5:

 

Blue lines within the paper

This note has a blue cross on the observse above date on the right which appears to be fibres crossing within the paper. There is also a blue line across Hamilton's nose on another note.....would this be quality control or is this sort of thing normal? Anyway, as for errors I'll leave that to you keen eyed authorities on this stuff..........thanks for looking, marbury