$1,000 'star' note sells for $45,000-plus at Nov. 21 Lyn Knight Currency Auctions sale

Paper Money On the Block column from the Jan. 5, 2015, issue of Coin World
By , Coin World
Published : 12/18/14
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A Series 1934A $1,000 Federal Reserve note with a star in the serial number sold at auction for more than $45,000 Nov. 21 by Lyn Knight Currency Auctions. 

The auction was held during the 29th annual National Coin & Currency Convention Nov. 19 to 23 in Rosemont, Ill.

The price does not include the buyer’s fee, which can be 15 percent or 18 percent depending on how the buyer decides to pay for the item.

The note, graded Choice Uncirculated 64 by Paper Money Guaranty, was printed for the Federal Reserve Bank of New York. 

According to the catalog description, only this single star note is reported for the New York bank, and only 13 star notes are reported for the entire Series 1934A.

Star notes are replacement notes. A star appears at the end of the serial number in place of the letter at the end that is normally used. 

Star notes are from sheets of replacement notes that are prepared for when a printing error or damage is discovered on a sheet during inspection at the Bureau of Engraving and Printing.  

Star notes are scarcer than normal notes because they are printed in smaller quantities than regular notes. 

For more information about the auction visit the firm’s website

Check out other recent paper money posts:

New or seasoned collectors can enjoy finding coin designs on paper notes

No shortage of supply in the paper money market especially with FUN auction ahead

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