What does this circle mean?

[PandaMan-migration]

Please look at my attachment. I've seen this on many fractional notes (usually the Washington 3c, 5c and 10c) and I can not find any explaination for it. I initially thought the guy I bought it from had marked it and ruined it. My logic tells me that maybe they stamped them this way to cancel them, does anyone actually know?

 

Thanks.

[BankNote-migration]

An overprint to deter counterfeiting.

BankNote

[PandaMan-migration]

Well, I see some that do not have the circle. Why some and not others? any ideas?

[BankNote-migration]

Well the overprint also called surcharge was tried with the second issue.And as time went on the counterfeiters got better and better on duplicating it.The third,fourth and fifth issue do not have the oval overprint.Of course the first issue didn't have it also.

BankNote

[PandaMan-migration]

Thanks. As far as you know, is one more valuable than the other?

[BankNote-migration]

Well it's going to depend on Friedberg type and of course grade.Probably the best way to learn about Fractional currency is to read as much as you can on the subject.One book which is one of the best is "A Collector's Guide to Postage and Fractional Currency by Robert J.Kravitz.Another way is by this website it's very informative with a price guide.Here is site http://www.myfractionalnotes.com/

Hope this helps.

BankNote

[PandaMan-migration]

Thanks for the tips.