Here is one of two error notes I purchased at Torex this weekend.
E25 - Cut Out of Register E26 - Replacement Note Error
Grade: AU
A portion of the adjacent note can be clearly seen at the top of the note.
This Cut Out of Register error occurs when a note is cut with improper alignment of the sheet in the cutting press. It is extremely rare
to find a Replacement note error, as these notes themselves, were used to replace errors found during the quality control process of
the printers at the Bank of Canada.
...Arthur
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Arthur Richards
Contributor, Charlton Catalogue of Canadian Government Paper Money, 19th, 20th, 21st, 22nd and 29th Edition
Pricing Panel Member, Charlton Catalogue of Canadian Government Paper Money, 21st Edition 2009