Those phony miscut $2's are a CRIME as far as I'm concerned!
Could not have said it any better. What a blight to the hobby! No matter how many posts or guides one writes --there's always the unscrupulous taking advantage of the neophyte.
There was a Journey miscut fold error $5.00 (with about 20% of lower note attached to the bottom right corner) and the seller was asking $1000. There has been other errors offered on that notorious online auction house --with extremely high starting bids. Its as if these sellers (many who have no selling history ie 0 previos sales) are basing their price on rarity rather than book. Very interesting but I doubt errors will go up that dramatically in so short a time.
Most collectors I know who collect amazing errors are more into it for the eye appeal (or uniqueness of the affected note) in their expanding hobby rather than to make a buck/ investment.