It was on a news paper that they're releasing uncit sheets for $11 I've never collected notes and don't know anything about it. Is this something people collect? What should I look for on notes? Are notes more valuable in uncirculated condition, just like coins?
There are a lot of people that collect notes and yes the better the note the more value. As far as the uncut $2 notes I believe that this is more of a novelty than anything else. A full uncut sheet would have 32 notes on them, there would be 4 wide and 8 deep.
Star notes are replacment notes. If during the course of examination a note is found to be imperfect, it is removed and replaced with a "star" note. Star notes are exactly the same as regular notes except that an independent series of serial numbers is assigned.