Are All Star Notes Worth More Than Face Value?
Not every star note is valuable. Learn to discern which rare banknotes are worth more than face value and how to assess your own.
Paper currency collecting offers a glimpse into history, art, and economics, with certain banknotes holding value exceeding their printed denominations. Among these, “star notes” often interest collectors. While not every star note is inherently valuable, some possess unique characteristics that make them highly sought after in the numismatic market, often exceeding their face value.
What are Star Notes?
Star notes are a type of paper currency produced by the U.S. Bureau of Engraving and Printing (BEP) as replacement notes. Their purpose is to substitute banknotes found to have errors during printing, such as misprints or damage, before circulation. This practice ensures the total count of notes within a specific serial number sequence remains consistent.
These replacement notes are identifiable by a small asterisk or star symbol. On modern U.S. currency, this star typically appears at the end of the serial number, replacing the last letter. Older types of paper money, like Gold Certificates or Silver Certificates, might feature the star at the beginning of the serial number.
What Makes a Star Note Valuable?
The value of a star note extends beyond its face value, primarily influenced by its rarity and physical condition. Rarity is largely determined by the print run size for a specific series, denomination, and Federal Reserve Bank. Lower print runs correlate with higher potential value, as fewer notes exist. Print runs of 640,000 notes or fewer are generally considered rare, with some runs significantly smaller, even down to 16,000 notes.
The note’s condition is another major factor, with uncirculated (UNC) or crisp uncirculated (CU) notes commanding the highest premiums. These notes show no signs of handling, such as folds, creases, or tears, and retain their original crispness. Even a rare star note will fetch a lower price if it exhibits significant wear or damage from circulation.
Beyond print run size and condition, other factors contribute to a star note’s value. Notes with “fancy” serial numbers, such as very low sequences (e.g., 00000001), repeating patterns (e.g., 11111111), or radar patterns (reading the same forwards and backward), are highly sought after. The series year and denomination also play a role, as older series or higher denominations might be more collectible due to historical significance or limited availability. Additionally, if a star note exhibits an error beyond its replacement status, such as a solid star, an inverted star, or a missing star, its value can increase substantially.
How to Determine Your Star Note’s Value
To assess a star note’s potential value, use online databases or lookup tools. Websites like MyCurrencyCollection.com allow you to enter the note’s denomination, series year, and serial number to check its production numbers. These tools provide print run size data, helping gauge rarity based on original issuance. Notes from smaller print runs, particularly those under 640,000, are generally considered more valuable.
A general assessment of the note’s condition is also crucial. Currency grading uses a numerical scale, typically from 1 to 70, with higher numbers indicating better preservation. For a preliminary check, examine the note for crispness, absence of folds, creases, or tears, and overall clean appearance. Uncirculated notes, showing no signs of handling, command a higher value than heavily circulated ones.
For notes you suspect may be particularly valuable, consider a professional appraisal. Professional grading services, such as Paper Money Guaranty (PMG) or Professional Coin Grading Service (PCGS), can authenticate your note and assign a precise numerical grade, which significantly impacts its market value. These services employ experts who accurately assess all factors influencing a note’s worth, providing a reliable valuation.