Currency question- Star Notes

Comments

• Cladiator Posts: 18,306 ✭✭✭✭✭

  February 20, 2006 3:53AM

  
  
  << <i>Will coin collectors always find stamp and currency collector to be odd? >>
  
  I think it's safe to say that everybody finds stamp and currency collectors to be odd.

  0
• ChangeInHistory Posts: 3,100 ✭✭✭✭✭

  February 20, 2006 4:13AM

  A large or small size note from circa 1908-present with a star next to the serial number is a replacement note, made after the first note with this number was found to be defective and then destroyed.

  0
• morganbarber Posts: 1,821 ✭✭✭

  February 20, 2006 4:24AM

  Thanks, ChangeInHistory. So all of the sequential ones on Ebay mean that large runs were defective? I guess they don't look so closely at each individual bill. A large run would have to go bad before it would be noticed.

  I collect circulated U.S. silver

  0
• CarlWohlforth Posts: 11,074 ✭

  February 20, 2006 4:46AM

  The BEP has to print a lot of notes. So they try to go as fast as possible. If they catch a printing error it is more likely than not that many notes were printed with that error so many will have to be replaced.

  Carl's Coins website w/ links to Carl's auctions
  

  0
• ChangeInHistory Posts: 3,100 ✭✭✭✭✭

  February 20, 2006 6:07AM

  
  
  << <i>Thanks, ChangeInHistory. So all of the sequential ones on Ebay mean that large runs were defective? I guess they don't look so closely at each individual bill. A large run would have to go bad before it would be noticed. >>
  
  
  
  I just copied that from my currency 'red book'. I thought it included old worn-out bills that were turned in as well. I'm glad I checked before replying!

  0
• Conder101 Posts: 10,536 ✭

  February 20, 2006 11:56PM

  The serial number on the star note does not match the serial number on the note it replaces. Star notes are printed with their own run or serial numbers and are just used a "place holders" to fill in for damaged notes in the standard run of notes.
  
  A standard brick of dollar notes has 4000 notes. Lets say for simplicity that this brick has notes 1 - 4000 but note 3000 is bad. Now you could just leave it out and put in note 4001 at the end but after this keeps happening the expected ending serial number for each brick gets further and further away from the expected number (4000, 8000, 12000 etc). By replacing #3000 with D17362338* the full 4000 note brick still ends with the proper number. (Makes accounting easier)
  
  Large runs of consecutive star notes can come from one of two ways. If a large number of sheets get messed up and rejected that could cause a long run of stars. But also once a series date ends ie Series 2003 ends and Seres 2004 begins, the remaining Series 2003 star notes are not destroyed or used to replace damaged 2004 series notes. They are banded up together and sent out to the Fed just like any other notes. So this can result in multiple PACKS (possibly even bricks) of consecutively numbered star notes entering the market.

  0