what do the stars next to the serial numbers on a $50 bill mean??

Question

I have a series of 1928 $50 bill and am trying to find out what this is worth. I also noticed that next to the serial numbers it has a star next to it, does this make it more rare? It's from the federal reserve bank of Chicago, Illinois any help is appreciated thanks.

Answer 1

The star does mean it is a replacement note for one that had that serial number, but was found to be defective in some way. Your note in grade fine trends for $500 in grade fine,$1000 in grade extra fine and $3000 in crisp uncirculated. A trends value is about what it would sell for. The values are usually a little high, most dealers try to sell under it so they look like they are giving you a deal. Of course a dealer will pay less usually 40% to 50% less. Chicago being a center of commerce usually has a lot of notes printed for it's Federal Reserve District, so in this case there is no added value for the district. A currency dearer needs to see it to grade it. I would go to a couple. Stay away from coin dealers that do not have a nice stock of notes and the books to look them up. They don't have the knowledge and will not offer you a fair price or even grade the note right. If you can send a scan of it you can try [e-mail], he is a top notch dealer in Boston. Don't bother if you can't send a scan or photo for he needs to see it to help. Hope this hhas pointed you in the right direction.

Answer 2

the star next to the note indicates that on the original note with the same serial #, an erro was found. The BEP employee then burned the error and created a bill with the same serial number and a star next to it. Yes, this makes the note more valuable. As for the value of the bill, i am not sure because you didnt list if it was series A or what color seal it had. According to the Standard Guide to Small Size US Paper Money, your bill is worth $500 in VF condition, meaning it is lightly used.