In an extraordinary turn of events, a seemingly ordinary $20 bill discovered at a garage sale has captivated collectors and enthusiasts worldwide.
This misprinted note, known as the “Del Monte Note,” fetched an astounding $396,000 at auction, highlighting the immense value that rare currency errors can hold.
The Discovery: From Garage Sale to Auction Block
The Del Monte Note is a 1996 U.S. $20 bill featuring a multicolored Del Monte banana sticker inadvertently affixed during the printing process.
This unique error, termed a “retained obstruction,” occurs when a foreign object remains on the note during printing, resulting in part of the design being printed over it. In this case, the Treasury seal and serial numbers were printed atop the sticker, creating a one-of-a-kind collectible.
Initially discovered by a college student in Ohio who received it from an ATM, the note changed hands multiple times, each time increasing in value.
Its journey from a garage sale find to a record-breaking auction sale underscores the unpredictable nature of currency collecting.
Understanding Currency Misprints: What Makes Them Valuable?
Currency misprints are anomalies that occur during the printing process, making them rare and highly sought after by collectors. The value of such errors depends on factors like uniqueness, visibility, and demand.
The Del Monte Note stands out due to its clear and colorful obstruction, making it a prime example of a valuable misprint.
Notable $20 Bill Misprints and Their Values
| Year | Error Type | Description | Estimated Value |
|---|---|---|---|
| 1996 | Retained Obstruction | Del Monte sticker printed over seal and serial numbers | $396,000 |
| 1990 | Missing First Print | Absence of initial design elements | $725 |
| 1977 | Full Offset Printing Error | Complete duplication of front print on back | $900 |
| 2004 | Corner Fold Over Misprint | Folded corner during printing, causing misalignment | $300 |
| 1995 | Inverted Overprint Error | Seal and serial numbers printed upside down | $1,299.95 |
The Auction: Breaking Records and Making History
In January 2021, the Del Monte Note was auctioned by Heritage Auctions, fetching a staggering $396,000, the highest price ever paid for an error banknote.
This sale not only set a new record but also brought widespread attention to the niche world of currency misprints, inspiring collectors and casual observers alike.
The story of the Del Monte Note serves as a compelling reminder that extraordinary value can be hidden in the most ordinary places.
Whether you’re a seasoned collector or someone who occasionally checks their change, keeping an eye out for unique currency errors could lead to unexpected treasures.
FAQs
What is a retained obstruction error?
A retained obstruction error occurs when a foreign object remains on a banknote during printing, resulting in part of the design being printed over it.
How can I identify a valuable misprinted bill?
Look for anomalies such as misaligned prints, missing elements, or foreign objects embedded in the note. Consulting with a currency expert can provide further insights.
Are all misprinted bills valuable?
Not necessarily. The value depends on the rarity, visibility of the error, and demand among collectors.
Where can I sell a misprinted bill?
Reputable auction houses, currency dealers, and online marketplaces specializing in collectibles are good places to sell misprinted bills.