What kind of error is this note?
Windycity
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Picked this up in a larger collection... family said it was a raffle prize at a lunch put on by the Credit Union that they worked at. Welcome opinions.
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Looks post poduction.
Possibly had been cut from a sheet post BEP.
Looks like someone was attempting to make it look as if it was an error note. Take a regular note and put it next to it for size comparison, you'll get the idea. I will say the S/N looks too low to be an after cut from a sheet though. And I guess it is always possible that it may have been a random note in the stack during cutting that was out of position and just never was caught after, so it ended up with a banded stack and that's it.
Do sheets exist for 1977A $5s?
Weren't the the early modern sheets only $1s?
No sheets for 1977A $5s. While I like the idea of post production fake error, the fact that a portion of the markings at the top of the sheet can be seen on the upper right of the front (and the outsized margins, particularly below), suggests it may, in fact, be a legit error. How the right end got cut off is a mystery, but I would not count this out. Send it in to PCGS Currency to have it authenticated. Or better yet, go to a show where they have a booth and they can look at at on the spot.
I have seen many error notes over the years and what you have was originally a minor miss-alignment error. Considered by most to be a low value error. Someone very likely in post production; cut off the right side trying to create a dual miss-alignment/miss-cut error. It's highly unlikely that the BEP cut the note short of it's normal length. Therefore I do not believe the miss-cut error was done by the BEP but rather in post production. It appears that someone tried to change a low value error into a higher value one. However with miss-cut errors you can never be absolutely certain if they were done during production or post production. If other notes existed in the serial range that displayed similar miss-cuts this would go a long way to proving a rare error. The only way I could see this being the case is if the paper jammed and I see no evidence of that. Without having other notes from the sheet it is not possible to be absolutely certain. I would heavily lean toward a minor miss-alignment error that has been altered in post production. One stipulation that gives your note a chance of being a real dual error is that the 1977 series was notorious for having a myriad of errors produced. Some of the most unique errors in the hobby came out of the 1977 and 1977A series; so anything is possible.
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I did receive a similar note to this. Actually it was $1 frn, maybe a 1995, and it was as if someone took a note from the strap and cut, on a slight diagonal vertically. About 25% of the right side missing. I was so hoping it would turn up as an obstruction error elsewhere in the brick. Not. This was from an unopened brick of 1000 from the BEP with the bar code on it. This was back when I had access to the big money center banks and would look through a couple of bricks a week. As it is I cannot consider it an error because...well without the story it isn't. I still have it in an envelope somewhere with the bar code on the outside.