Security features mixed up on a $10 bill

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Hi,

I have a circulated $10 bill, 100% genuine (verified by many experts, as well as the bank) which has the holographic strip of 20 on it, the watermark is of the Queen with a little 20 on the lower left corner, and the on the back of the bill, the dashes (security thread) says 20 CAN on it. UV light reveals BANQUE DU CANADA and 10 under it. The puzzle number is of a 10. It was printed in 2007 and is an issue of 2005.

Condition is somewhat between Very Fine and Fine.

Any price opinion on this bill? Thanks.

Hello Billythebill

Welcome to the forum (what a great name) lol.

This note you have would be considered a double denomination note.

1st let me give you a link to a discussios already on this topic. This will give you a good understanding of what you have. Then please ask any further question you may have.

If I could ask a favor, would you beable to provid me wit the serial number along wit the front and back position numbers, that would be fantastic to elwoodbluesca@rogers.com.


Topic: BTT/BTU Wrong Paper Errors (Discussion)  (Read 3288 times)
http://www.cdnpapermoney.com/forum/index.php?topic=9784.msg46699#msg46699

I *might* do an auction on this, but I might also wait for next year when we will have new plastic banknotes. The current bills will be pulled out slowly, and this bill will become even more rare.

Technically, we have only a year or two to find out how many of these were caught and exist in people's hand. I dont personally think by the current rate that we would have more than 50 or 60 found. The rest (which we dont know how many) are already spread out among millions of bills and will just go back to the Bank of Canada naturally each passing day after the new release in 2011.

For those who have it, I say keep it or sell it at a good price. In 3 years from now, it probably will be worth a lot lot more.

...
For those who have it, I say keep it or sell it at a good price. In 3 years from now, it probably will be worth a lot lot more.

I had one and gladly sold it for $400.  I respectfully disagree with your comments as experience has taught me that error notes are a poor investment because they never go up in value.  These double denomination errors might buck the trend because of all the research and speculation behind them, but if I still wouldn't change what I did, even if someone tells me that in 3-4 years time, I could have had $600 for the bill I found.

For those who have it, I say keep it or sell it at a good price. In 3 years from now, it probably will be worth a lot lot more.

I also have to agree that I doubt these notes will be worth that much more in 3 years from now, unless you have one in great condition.  The simple fact is that there are only so many error note collectors out there and as time goes on.. those that want one can usually find one that is up for grabs.
From the numbers that I have heard been found and reported and those that have not been reported are enough to accomodate any collectors out there...
Sometimes it's better to get what you can when you can....before you know it the next error comes up and these can be put on the back burner.
Only my opinion.....

FRIEDSQUID

I agree. Sell it now before anyone can more accurately estimate - with the assistance of a longer period of time - how many exist, and the excitement wanes. I think we can assume there's many of these.
Also, the release of polymer banknotes in this country will have no effect on this note....

I had one and gladly sold it for $400

WOW maybe mine was not in such good shape, but I picked one up at the last show for $125.00....
The seller had 2, but he wanted $200 for the better one....I should have bought both ...sold one and got mine for free...

WOW maybe mine was not in such good shape, but I picked one up at the last show for $125.00....
The seller had 2, but he wanted $200 for the better one....I should have bought both ...sold one and got mine for free...

It sounds like you got a good deal.  I'm not sure because it's only a deal if you can get more than you paid.  Frankly I'm surprised that the seller had two.  I wonder how many more he had that he could offer them for such a low up-front asking price.

First of all, you will almost never have one of those in a perfect condition. Chances to find one in a good condition (like brand new) is like the chances of wining the lottery ticket. Its almost impossible.

Second, I dont agree there might be a lot of these. Whats not reported is technically not existent until it is reported. How many collectors on this forum have one at hand right now? 5, 10, 20? How many were declared to be found? 30, 40, 50?

Third, the release of polymer banknotes will have effect on everything. These polymer banknotes will eventually replace every single cotton made banknote in Canada. In other words, you would never see a cotton banknote again after a while. So if you have one like the double denomination one, it would always be special regardless of time.

Polymer notes might also have their mistakes, but who knows if you will ever have double denomination errors on them. Google double denomination polymer notes and check for yourself.

Hi Billythebill

I would suggest if you don't have a copy of the Charlton Canadian Paper Money book to spend a few bucks and pick one up. It has a section dedicated to errors. Although the double denomination isn't it the latest book you will find many examples of error notes (W/ Book Values) that have been found with several being very interesting. This could be a very good starting point to compare and see how "desirable" this note is with these other known errors.

I'm not sure if you are an avid collector or an avid collector in the making but this is a great note to have in a collection and if you are  more interested in making money on the note ( which is OK) like anything, selling when interest is highest usually is a winning strategy but if you think this note will increase 5-10 fold you might be very disappointed.

Congrats on your find!

MG

The bottom line is and always will be ...supply and demand..
If the supply is greater than the demand the price will likely decrease from what people are getting now....
It is human nature to want something when its new and the hype is present, but in time it fades away and the next cool error is found.
Don't get me wrong..I think it is a neat error, but I wouldn't pay the price people have got and/or think they can get...
As for it being worth more when only polymer notes are only available. I have to disagree....It will still boil down to whether or not a collector is still interested...and by that time who knows how many more will be found...
Again only my opinion.....but I wouldn't hold my breath if your waiting to retire on it

If I have one of those note, I will never sell it because it is unique unless I need money badly. If I want to buy one of those
note I will not pay more then $2,000 that is my limited because thats only an  (Canadian ) error note. I don't think that note will go to moon money in the future

I will not pay more then $2,000

I don't ever see that note going anywhere near that price.....

Whats not reported is technically not existent until it is reported.

I'm not going to start a philosophical debate on existent versus non-existent notes.  All I want to clarify is that a note that is not known to exist has no bearing on the current market.  Once a note becomes known, the market will adjust to it, and even if that note is bought and taken off the market, it's existence is still known and the population reports of that kind of note will continue to influence the market.  So the number of existing notes tends to go up with time, not down as a result of random losses caused by fires, floods, other acts of Gawd, etc.  And combined about what fredsquid said about new things being more popular, this is what I used as the basis for my decision to sell right away rather than holding on to the note I found.

Specifically regarding these $10 errors, there's still no information about how many consecutive Unc notes the original discoverer received and how many he still has.  If he's sitting on 15-20 of these, the impact his notes will have once he finds a way to sell them could be significant on the market.

There are still new bricks on BTT and BTU $10 notes being opened in Ottawa at this time.