1976 $2 bill with inverted / foldover error , Jefferson is on the back 0

[jrc8954]

I have a 1976 $2 bill, looks uncirculated or very close.  This has a foldover / inverted print of Jefferson on the back.
I cannot find anything on this with google.  
Bing chat-gpt seems to say this is a very rare error, maybe 100 in existence.
Is this like $1,000 rare or closer to $50,000 rare?  I don't want to spend $300 mailing and grading it for $600-$700 profit.  Would rather give it to my kids.

Thanks for any assistance,

Jacob

 

 

 

Edited September 10, 2023 by jrc8954

[Fenntucky Mike]

On 9/9/2023 at 8:55 PM, jrc8954 said:

I have a 1976 $2 bill, looks uncirculated or very close.  This has a foldover / inverted print of Jefferson on the back.
I cannot find anything on this with google.  
Bing chat-gpt seems to say this is a very rare error, maybe 100 in existence.
Is this like $1,000 rare or closer to $50,000 rare?  I don't want to spend $300 mailing and grading it for $600-$700 profit.  Would rather give it to my kids.

Thanks for any assistance,

Jacob

It's call and offset printing error, it happens when there is no paper between the printing plate and impression cylinder, ink is transferred from the plate to the cylinder then the ink on the cylinder will transfer to the opposite side of the next several sheets until the ink is gone. Value depends on how visible and large the area affected is, your note has a strong transfer but only about 2/3's of the design was transferred. I'd say it could fetch in the $1-$2,000 range, maybe a little more. Nice find.

[jrc8954]

On 9/10/2023 at 7:45 AM, Fenntucky Mike said:

It's call and offset printing error, it happens when there is no paper between the printing plate and impression cylinder, ink is transferred from the plate to the cylinder then the ink on the cylinder will transfer to the opposite side of the next several sheets until the ink is gone. Value depends on how visible and large the area affected is, your note has a strong transfer but only about 2/3's of the design was transferred. I'd say it could fetch in the $1-$2,000 range, maybe a little more. Nice find.

Thanks very much for the reply "Fenntucky Mike". 

I bought a bunch of currency a few years back.  Most was late 1800s and early 1900s, paper, silver, and an Austria gold piece, probably 10lbs of silver (this was from a retired banker, so most is circulated).  Not sure if I want to grade it or just keep it around for my kids later.
The $2 bills I got weren't very old but that one looked like an error.
Again thanks.  Essentially that $2 pays for the whole lot which I bought for $800.
1.  Is there a good practice figuring out if it is worth grading?
2.  Also, how hard is it to look for error pricing in PMG?  Still figuring out this website and the population report flow.
It is pretty hard eye balling bills and coins when I am only just starting this journey now.

Edited September 10, 2023 by jrc8954

[Fenntucky Mike]

On 9/10/2023 at 6:45 PM, jrc8954 said:

1.  Is there a good practice figuring out if it is worth grading?
2.  Also, how hard is it to look for error pricing in PMG?  Still figuring out this website and the population report flow.
It is pretty hard eye balling bills and coins when I am only just starting this journey now.

It's worth having authenticated in my opinion, just so people know it's real, and the best wat to determine value is by researching recent auction sales of notes with similar errors. Stack's, Heritage, ebay, etc., etc., etc,... PMG won't list error pricing and they don't differentiate between notes and error notes in the Pop Report, not that I've ever seen anyway. 

[Michael Burch]

It does not cost $300 to get a bill graded by PMG.  I sent the solid serial number $10 note in before selling it, and the price was $100.  I listed a value of $2,500, and they send it insured...  so the total was around $150.  The price depends on several factors.  It's all spelled out on their site.  The more bills you get graded, the less it costs per bill.  The solid note was the only one I sent in, so that's why it cost so much.  That, along with its value.