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Question on COPE overprinting

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During the COPE overprinting, are both sets of seals and the serial numbers printed on the same pass through the press?


The reason I ask is I have seen a few examples of FRN in the past that have been missing the Federal Reserve seal and numbers, but until this week I have never seen any that have the Treasury seal and serial numbers correctly placed and the Federal Reserve seal and numbers wildly misplaced. If they are printed on the same pass through the press I don't see how that would be possible. Even worse in the past month I have seen two "errors" that I know are fake. One of them I saw locally and the other is currently on eBay. Here is the image.




On this note the Fed seal is wildly displaced, but the Federal Reserve Bank NUMBERS in the corners have NOT moved. Also it looks like the original seal has been removed.


Then we have this note.




On this one the numbers and the seals have both moved down considerably and the same amount. Looks good. But these notes are overprinted as half sheets. This note is in Position D2. If the overprinting has shifted down that much, why isn't the bottom of the overprinting from the note in position C2 visible at the top of this note?


I do know that there is someone out there creating similar fake errors and selling them on eBay as imitation errors but most of his do not also remove the original seal.

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