How Much Are Star Notes Worth? And What to Look For

Star notes are a unique segment of U.S. paper currency, serving a specific purpose within the printing process. These notes are produced by the Bureau of Engraving and Printing (BEP) as replacements for banknotes identified as misprinted or damaged before they enter circulation. This replacement system ensures that the total count of banknotes in a production run remains consistent, even when errors occur. While not all star notes carry significant value beyond their face amount, some can be highly sought after by collectors due to their inherent scarcity. Their existence adds an intriguing layer to the world of paper money.

Identifying Star Notes

Identifying a star note is straightforward, primarily by observing a distinct symbol on the banknote. Modern U.S. currency features a small star symbol, often an asterisk (), located at the end of the serial number. This star replaces the last letter that would typically appear in a standard serial number. For older series notes, the star symbol might be found at the beginning of the serial number.

The star’s color typically matches the ink used for the serial numbers and seals on the note. For Federal Reserve Notes, this is usually green. This detail helps determine if a note is a star note.

Factors Influencing Star Note Value

A star note’s value is influenced by several factors, with physical condition being paramount. A note’s grade, which assesses its preservation, directly correlates with its potential worth. Notes graded “Uncirculated” (UNC) or “Crisp Uncirculated” (CU) command the highest premiums. This contrasts sharply with notes that have been heavily circulated, exhibiting folds, tears, stains, or pinholes, which significantly diminish their value.

Professional grading services utilize a numerical scale to assign a precise condition grade. For example, a note graded 70 is considered perfect, while those in the lower ranges, such as “Very Fine” (VF) or “Good” (G), indicate increasing levels of wear and deterioration. Even for rare star notes, poor condition can drastically reduce their appeal and market price, sometimes leaving them worth little more than face value.

Rarity is another driver of star note value, primarily determined by its original print run size. Star notes are produced in smaller quantities than regular notes, and those with particularly low print runs are highly desirable. Generally, print runs of 640,000 notes or fewer are considered rare, while those with 160,000 or fewer are highly scarce, and runs of 16,000 or fewer are extremely rare. Collectors often use online databases to check print run sizes.

Beyond print run size, other elements contribute to a star note’s rarity. The denomination can play a role, with higher denominations often being scarcer because fewer were printed for circulation. Specific serial numbers, such as low serial numbers, binary sequences, or radar numbers (reading the same forwards and backward), can also increase a star note’s value.

Occasionally, star notes themselves can possess printing errors, like a “solid star” where the star symbol is fully inked when it should be hollow, an “inverted star,” or even a “missing star.” These errors can further enhance a note’s collectibility.

Determining and Realizing Value

Ascertaining a star note’s value often benefits from professional assessment, particularly for notes of significant worth. Services like Paper Money Guaranty (PMG) offer authentication, grading, and encapsulation, providing an unbiased evaluation of a note’s condition and authenticity. These services assign a numerical grade that is recognized within the numismatic community, which can instill confidence in potential buyers and sellers. The process involves submitting the note for expert review, after which it is sealed in a protective holder displaying its grade and identifying details.

For those seeking estimated values without professional grading, numerous online resources and price guides are available. Websites provide lookup tools where individuals can input their note’s denomination, series, and serial number to view its production data and rarity. These platforms often aggregate auction results and market trends, offering a general idea of what similar notes have sold for. Engaging with online collector communities and forums can also provide valuable insights and informal appraisals from experienced enthusiasts.

When selling a star note, several avenues exist depending on its estimated value and seller preference. Reputable currency dealers often purchase notes, offering a quick transaction, though their buying prices typically reflect a wholesale rate. Online auction sites provide a broad market of potential buyers, allowing sellers to reach a wider audience and potentially achieve higher prices. For exceptionally rare or high-value star notes, specialized numismatic auctions can be an ideal choice, as they cater to serious collectors and can generate competitive bidding. Regardless of the chosen method, understanding the note’s approximate value beforehand through research or professional opinion is advisable to ensure a fair transaction.