Error notes whats the best?

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Hey all,

Just wanted to know what everyone thinks about what the most valuable error type would be. Being serial number mismatch,printing,cutting and so on.... so where would your money best be invested in error notes?


Arthur

I don't know a lot about error notes, but I would put my money on printing errors. I see more number errors then printing.

Sorry if I sound cynical, but error notes are not good investments as they don't generally go up in value over time and they appeal only to a small segment of the collecting community, mainly specialists in the area.  Has there ever been a sudden interest in a certain error type that sent the market upward, even briefly?  I don't ever recall that happening.

I would tend to agree with the above comments. I think it's instructive to consider paper money errors relative to postage stamp errors and coin errors.

POSTAGE STAMP errors have been immensely popular for over 100 years with some of the most famous errors (e.g., inverted centres, colour errors, missing perforations) selling for many thousands of dollars, and even hundreds of thousands in a few notable cases. In the case of postage stamps, ink printing errors tend to fetch much higher prices than folding/cutting errors

COIN errors have never caught on in the same way as postage stamp errors and most are available in the $20-$200 range. Coin collectors tend to seek perfection and errors are really the antithesis of perfection, at least that's the way I see it.

PAPER MONEY errors are certainly popular with some collectors but, as with coin errors, they have never attracted the really big money. As with postage stamps, I would tend to feel that ink printing errors (on an otherwise perfect note) are likely to have much better upward price potential than folding/cutting errors. I don't personally feel much attraction to notes that have all sorts of strange paper appendages although I know some collectors just love 'em like that. I still prefer my bills in original high-grade condition with WIDE EVEN MARGINS!

Sorry if I sound cynical, but error notes are not good investments as they don't generally go up in value over time and they appeal only to a small segment of the collecting community, mainly specialists in the area

While I can't deny this observation, I believe error notes are due a resurgance in interest, especially as the hobby matures.  Who would have believed there was another catalogue rival to Charlton only 3 years ago? I remember going to coin shows and hanging around the 4 or 5 tables that sold notes.  Now you seldom see a dealer who isn't selling notes along side his coins.  While it still may take a while, I think errors will eventually be given due credit for their unique rarity, much as they're valued in the states.  The US is already influencing our hobby with the pressue of 3rd party grading, the MS number system, and demand for our Devil's faces.  I wouldn't be a bit surprised to see errors command strong market value sooner rather than later.  

What's the best?  Well I don't think that's a mystery... the most spectacular is always seen as the best.   However, this too could change as more collectors dabble in collecting errors.  I've seen quite a few collectors (who previously steered away from errors) now buy paper cut errors, serial numbered errors, as well as the more stunning printing ink errors.  I'm a big fan of off-set printing errors, but will buy just about any kind, over replacements, special serial numbers, and even older issues.  Mismatched serial numbers are pretty rare since they're so hard to find in the first place (unless they're spectacularly mismatched like that post of ten 2004 $50 we saw recently).

U.S paper money error notes seem to be very popular, as ebay has a seperate catagory specificaly dedicated to them. My favorite error note is my 2001 10.00 note with 5 mismatched serial numbers 8-). By the way Arthur do you still have your 1991 20.00 error note with the 3 different serial numbers? That was a real find . Also I was wondering if any members recall the "so called 25.00" error note that sold on ebay for over 2000.00 . It was a Journey 20.00 with a 5.00 imprinted over the face of the 20.00 giving the impression of a 25.00 note. I'm glad that I only bid up to 125.00 for it .

U.S paper money error notes seem to be very popular, as ebay has a seperate catagory specificaly dedicated to them. My favorite error note is my 2001 10.00 note with 5 mismatched serial numbers 8-). By the way Arthur do you still have your 1991 20.00 error note with the 3 different serial numbers? That was a real find . Also I was wondering if any members recall the "so called 25.00" error note that sold on ebay for over 2000.00 . It was a Journey 20.00 with a 5.00 imprinted over the face of the 20.00 giving the impression of a 25.00 note. I'm glad that I only bid up to 125.00 for it .

You mean the monstrosity pictured below that sold for $1,825.00 USD and got positive feedback ( :-?) from the buyer?  Sure I remember it!  I even saved the web page before the listing was deleted by eBay three months later.

[attachment deleted by admin]

I am sure that the so called error $25 note is just a inkjet printed $5 over a $20.  You can see a line at the bottom of the note, probably the edge of the scanned $5.  If the note was legit, the line would not be there.  However this is only my opinion from a scan and I would have to see the note in hand to be 100% sure.

Tom

Hey

Yes I do still have my $20 with the 3 serial numbers its on ebay right now under archey80 I think it will sell this time   I would have to agree with Tom on the Error above $25 a inkjet and someone made over 2000 Canadian. Just my thoughts  

Arthur

the so called error $25 note is just a inkjet printed $5 over a $20

That's a frightening thought.  If an ink jet printer printed a $5.00 image over a $20 wouldn't the result be darker?  

The speculation that an error may indeed be manufactured (and has been eg: the so called "miscut" Bird series $2.00 and $5.00 from sheets) may keep collectors wary of buying errors & contribute to the market remaining soft in this area.  I wonder how more security could be brought to this part of the hobby (error collecting) besides the obvious "buyer beware."  

the so called error $25 note is just a inkjet printed $5 over a $20

That's a frightening thought.  If an ink jet printer printed a $5.00 image over a $20 wouldn't the result be darker?  

Pressing, manufactured cutting errors, washing, now this. What's next lol? These are not teenagers doing this.
Never heard of so many shysters in a single hobby.

No wonder so many "collectors" hold a note long enough to list it on ebay.

I believe it is virtually impossible for such an 'disastous' error to occur base on my understanding of Manufactering engineering and logistics, this had to be intentionly manufactured outside the BoC. The production runs I believe at least are seperate. Asides from the BoC's policy of anyone skirting printing control protocols would be fired if not arrested for it. I'm sure there is enough discouragment that it would rule out BOC employees.

I tend to agree with the member(s) who mentioned that interest in collecting errors has grown. I make this observation with regards to the aggressive bidding for errors during auctions and the lack of quality errors available at shows I've been to.

Personally I don't appreciate and don't collect the mis.cut type of errors. I also find them fairly easy to obtain.

The best and most interesting errors IMHO are those misprints, misplaced features e.g. OCD, mismatched seriel numbers, and missing features. Likewise, I think in terms of what to collect, condition rarity is important in my books, so as UNC as possible is good in terms of collectability and holding value.

Can you believe someone is actually bidding approx. $60 CDN on this item?  Could it be any more obvious that it was cut from a sheet of notes with a pair of scissors?  Look at the bottom margin! LOL

There is a saying in my line of work.... there is an a$$ for every seat.

Those phony miscut $2's are a CRIME as far as I'm concerned!

Back to errors, I like the print errors like the Ghost notes, and the birds $20's with no back printing )save for the serial number and barcode).  Fold errors, if there's colour bar, or extra holostrip showing, are nice as well. 
I'm too new to the hobby to comment about pricing with any expertice, but I think these notes are already worth quite a bit.  If the hobby grows, IMHO, the errors will go up in price.  I know I want to get into buying them, but with still getting my regular notes purchased, I can't go too nuts just yet with errors.