INCORRECT DISTRICT NUMBER "11" on SAN FRANCISCO STAR NOTE

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Error Notes > Federal Reserve Notes

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$1 2003 L San Francisco L-* Incorrect, Additional District Number
Grade: PCGS Ch. New 63 PPQ    

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"This unique star note error comes with a lengthy letter of authenticity by Frederick J. Bart, dated January 26, 2006, from which we borrow liberally here. In short, this was the top star note in a BEP-sealed brick which was blister packed or shrink wrapped. The discoverer could see not only the two normal "12s" on the right end, but also an additional district number through the shrink wrap. The entire brick was sent to Bart, who wisely photgraphed it before opening the plastic to examine the note. (A copy of the photograph accompanies this lot.) Bart examined all 1,000 notes in the brick and found none similar to the top note. The BEP barcode label on the outside of the shrink wrap indicates that the San Francisco (district 12) star notes replaced a bad batch of notes intended for Dallas (district 11). (The original barcode label accompanies this lot.) One can assume that either a press operator or rollertransferred the numeral "11" from the prevous Dallas production onto this note which has a complete San Francisco overprint. We concur with Bart who considers this note unique. The phrase "once-in-a-lifetime" is often overused, but it certainly seems appropriate here. Only one collector will own this item and it will redefine the caliber of the collection it enters. Four items included in this lot are: the error note, letter of authentication, photograph of the note in shrink wrap and BEP bar code." The above is from our 2006 catalog auction where this piece brought $10,925. In an identical market, we'd expect a similar realization tonight.

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