1937 $1 with $5 colours

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Today I had the opportunity to buy a VG 1937 $1 which had the $5 blue colour . I have never seen this error before and the asking price was $200. Does anyone have any info on this type of error and was this a good deal that I passed up?
Rocken

I have seen one recently on ebay. There was also an US $1 note where the back overprint was blue as well. However both were only blue on one side.

Rocken was it blue on both sides?

There is one in the upcoming Torex auction.

Lot #1609
Starting Price: $100
Estimate: $200-$300

Click Here to see the note.

Yes it was blue on both sides.

Interesting... just don't understand how such un error could occur unless a chemical was used. I wouldn't trust such a note unless it was in a much better grade. My opinion.

Green turned to blue $1 notes, particularly of the 1937 and 1954 issues, have been known for a long time.  They were green when they left the Bank of Canada, and subsequently turned blue as a result of accidental (or possibly deliberate?) chemical treatment.  There are no "wrong colour" error notes listed in the Charlton catalogue for that reason.

So we all pretty much  know the truth about these such "errors". Why are they still posting such notes like this one in question Lot #1609 in the upcomming Torex auction oct. 2010?

The colour of this note actually represents the Blue from the 1937 $5 series. Note is not faded in anyway which leads us to belief that this is an authentic error. Grades good with missing top left hand corner.

Maybe this one really is authentic???
Buyer Beware!!!