Intriguing PMG-certified Error Banknotes Featured in Upcoming Sale

Posted on 9/20/2022

An October Heritage sale offers an impressive selection of error banknotes from the collection of Louis Rose.

Over 150 US banknotes with highly desirable errors that are certified by Paper Money Guaranty® (PMG®) are showcased in a sale presented by Heritage Auctions. From the phenomenal collection of Louis Rose, these banknotes have a range of errors, including Inverted Back, Mismatched Serial Numbers, Gutter Folds and Missing Print errors. Online bidding is currently underway, with the sale concluding on October 16, 2022.

One note featured in the sale is a 1974 $50 Federal Reserve Note (Boston) with Inverted Back Error graded PMG 63 Choice Uncirculated EPQ. It’s a Type II Error, meaning the back is inverted and the vertical alignment resulted in the inclusion of part of the design from another note from the same sheet.



1974 $50 Federal Reserve Note (Boston) with Inverted Back Error graded PMG 63 Choice Uncirculated EPQ
Click images to enlarge.

An Inverted Back Error occurs when the back of a note appears to be upside-down compared to the front. This only happens due to human error. Sheets of banknotes are printed one side at a time, and when the second side is fed incorrectly into the printing equipment, the sides are wrongly oriented in relation to each other.

Error banknotes are rare and coveted by collectors, sometimes selling for thousands of dollars. In January 2021, Heritage Auctions sold a 1996 $20 Federal Reserve Note (St. Louis) graded PMG 64 Choice Uncirculated EPQ with a notation of Obstructed Printing Error with Retained Obstruction. Known as the "Del Monte Note" for the produce sticker that created the error, the note realized $396,000.

To learn more about the world of error notes, check out Error Note Chronicles.

Other PMG-certified error notes highlighted in the sale include:

  • a 1995 $5 Federal Reserve Note (New York) with Misalignment Error graded PMG 64 Choice Uncirculated EPQ
  • a 1977 $10 Federal Reserve Note (Boston) with Doubled Print Error graded PMG 66 Gem Uncirculated EPQ
  • a 1988 $50 Federal Reserve Note (New York) with Inverted Back Error graded PMG 63 Choice Uncirculated EPQ
  • a 1950A $5 Federal Reserve Note (New York) with Mismatched Serial Number Error graded PMG 65 Gem Uncirculated EPQ
  • a 1969C $100 Federal Reserve Note (Richmond) with Misalignment Error graded PMG 66 Gem Uncirculated EPQ
  • a 1974 $20 Federal Reserve Note (Richmond) with Printed Fold Error graded PMG 64 Choice Uncirculated EPQ
  • a 1993 $50 Federal Reserve Note (Cleveland) with Overprint on Back Error graded PMG 66 Gem Uncirculated EPQ
  • a 2001 $1 Federal Reverse Note (Atlanta) with Multiple Errors graded PMG 66 Gem Uncirculated EPQ
  • a 1988A $20 Federal Reserve Note (San Francisco) with Overprint on Back Error graded PMG 63 Choice Uncirculated EPQ
  • a 1935E $1 Silver Certificate with Mismatched Serial Number Error graded PMG 64 Choice Uncirculated EPQ
  • a 1969C $100 Federal Reserve Note (New York) with Overprint on Back Error graded PMG 63 Choice Uncirculated EPQ

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