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Topic: 1954 error/same number  (Read 3736 times)
coinboy
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« on: January 02, 2013, 04:10:17 pm »

I would like to get opinions on these two notes.
They were acquired together, are both choice unc.
One half of one is a duplicate serial #, the other an error.
Any thoughts on value???

{http://img689.imageshack.us/img689/5271/57334653.jpg:http://img689.imageshack.us/img689/5271/57334653.th.jpg}

mmars
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« Reply #1 on: January 05, 2013, 03:48:09 pm »

Yeah, lots!

Seriously, though, this would qualify as a novelty set, and as such, the value is impossible to pin down.  Each note individually has a value that is modest, but together, their combined value should be much greater.  Maybe not as great as E19 - Duplicate Serial Number because THAT is a truly unique error type that is underpriced in the catalogue, but somewhere in the 50-70% range of that error type.  But because it's a novelty set, the price you could get at auction on any given day could be as little as $500 to maybe $1,500 or more.

Just my opinion, I reserve my right to be completely wrong.  :'(

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Shylo
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« Reply #2 on: January 05, 2013, 09:36:10 pm »

When I saw this post I found it very facinating and tried to find other examples from previous auctions and couldn't find anything to determine value.

I may be far off the mark here but what I believe you have is an E15 bill (mismatched serial number) with it's complimentary matching note.

Now I am no where close to "experienced" for determining values on errors but here's my logic.

The notes stand alone in GUNC condition for around 45 bucks.
A one digit mismatch for a $5 note will go for around $400

I think that because you have the complimentary note that pairs with the mismatched note a conservative 15% premium wouldn't be an outrageous expectation.

So my best guess on value may be somewhere between $500 and $600 for the pair. [(45 + 45 + 400)*10-20%)

This is all just my opinion and I am certainly not very experienced in this type of valuation at all.

Great find!
Elwoodbluesca
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« Reply #3 on: January 08, 2013, 10:28:33 pm »

Took me awhile, but I knew I had a photo of this type of error on file on bird $100's

{http://img252.imageshack.us/img252/4127/1988100mismatcherror.jpg:http://img252.imageshack.us/img252/4127/1988100mismatcherror.th.jpg}

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Rupiah
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« Reply #4 on: January 09, 2013, 03:27:48 am »

Took me awhile, but I knew I had a photo of this type of error on file on bird $100's


Thank you for sharing. I am amazed that this even happens. Wow. Does the fact that the right number is different by 300 and 320 have any relevance as to the cause of this error?


Wonder what paper money would say if it could talk?
Seth
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« Reply #5 on: January 09, 2013, 01:08:07 pm »

It's not hard to understand how this happened. The left numbering wheel got stuck and the right numbering wheel continued operating normally. This resulted in each note having a serial number mismatch, and multiple notes having the same left side serial number.

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Rupiah
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« Reply #6 on: January 09, 2013, 07:26:51 pm »

The left numbering wheel got stuck and the right numbering wheel continued operating normally.

Thank you. I figured something like that but wondered how these things actually work. Are the notes numbered from higher to lower?


Is it possible that both wheels got stuck?

Just for interest sake - GPM 25th edition reports two additional notes with about the similar serial numbers under  mismatched serial number:

Bird Series - $100 denomination

First Note Left Number/Right Number - BJF 8345657 / BJF 8345927 - GPM-25th ed. pg 401
Second Note Left Number/Right Number - BJF 8345657 / BJF 8345947 -  GPM-25th ed. pg 401

Compare this with the one reported in this thread by elmwoodsblueca

First Note Left Number/Right Number - BJF 8345624 / BJF 8345924
Second Note Left Number/Right Number - BJF 8345624 / BJF 8345944

It seems that the left counter increased by 23 for only a 3 increment in the right counter. Would this suggest that both counters were malfunctioning.

Going by the GPM-25th edition these notes were produced in sheets of forty notes and skip-numbered in increments of 500 and assuming the problem started at 624 and did not stop until the 500 were printed and further assuming that sheets are numbered lower to higher then if my math is correct there were possibly 376 error note numbering combinations.

If the printers let these two go I am sure the others went unnoticed.

Wonder what paper money would say if it could talk?
walktothewater
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« Reply #7 on: January 09, 2013, 10:02:36 pm »

I agree with mmars in that this truly is a unique set and with an error that half matches the other note's SN its like a "novelty set."  I believe the value is hard to determine since it would attract a collector of sets & errors (both are special interest areas).   In the US I'm sure such notes would have enormous appeal since there are far more error collectors (& more set collectors too). 

I also feel the 1954 $5.00 would be very desirable because they're a lower denomination (high appeal to error collectors) & a real popular series.  IMO as a set these notes would likely have a much greater value at an auction ($750- $1100) of interested note collectors rather than in a shop, online, or in other softer markets ($500-$750 range).   

 

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