Star notes are replacement bills printed when an original bill has a defect during production. They have a small star symbol (★) at the end of the serial number instead of a letter. Star notes are often rarer than standard bills, and some can be worth much more than their face value, especially if they come from limited print runs or specific years.
Why they’re valuable:
- Rarity due to limited circulation.
- Collector demand for specific star notes (e.g., specific series, low serial numbers).
2. Low Serial Numbers
Bills with low serial numbers (such as 00000001, 00000123, etc.) are highly sought after by collectors. Generally, bills with serial numbers below 100 or particularly memorable numbers (like repeating digits) can attract premium prices. The lower the number, the more valuable it can be.
Why they’re valuable:
- Low numbers are considered “unique” and desirable.
- Often linked to historical or symbolic significance.
3. Misprints and Printing Errors
Bills that have printing errors, such as misaligned printing, missing serial numbers, or double prints, can be very valuable. Common misprints to look for include:
- Off-center printing: When the design isn’t properly aligned on the bill.
- Double printing: When a portion of the bill is printed twice.
- Missing serial numbers: A bill that lacks one or both serial numbers is considered a significant error.
Why they’re valuable:
- Errors are rare and appeal to collectors looking for unusual specimens.
4. Old Series and Historical Notes
The U.S. Treasury periodically releases new designs, and older bills from previous series can be worth more than their face value due to their age and rarity. For instance, older $20 bills from the 1920s, 1930s, or 1960s can be worth more depending on their condition and rarity. Some bills from these periods were printed with different designs or security features that are no longer in circulation.
Why they’re valuable:
- Older bills may have unique features or designs that aren’t available today.
- They can have intrinsic historical value or appeal to collectors of currency history.
5. Unique Serial Numbers
Bills with interesting or “lucky” serial numbers such as repeating numbers, sequential numbers (e.g., 12345678), or patterns like 88888888 are often more valuable. Collectors may be drawn to such serial numbers because of their perceived significance or uniqueness.
Why they’re valuable:
- People often associate specific numbers with luck, culture, or symbolism.
- Collectors look for interesting combinations, especially those tied to certain years, events, or pop culture references.
6. Uncirculated Condition
Condition is critical when determining the value of any currency. Uncirculated bills, or those in near-perfect condition (graded by professional services like PMG or PCGS), are much more valuable than those that have been handled or circulated. A bill in pristine condition especially if it’s a rare star note, misprint, or old series can be worth several times its face value.
Why they’re valuable:
- Uncirculated notes are rare, as most currency is in circulation and shows signs of wear.
- Graded bills (especially those in “Gem Uncirculated” or “Mint” condition) can command high premiums.
7. Rare Series and Print Runs
The series year of a bill can also affect its value. Bills from series years with limited print runs or significant historical importance may be worth more. For example, $20 bills printed during certain years of economic instability or war may hold added value for collectors.
Why they’re valuable:
- Some series are produced in limited quantities, making them rarer.
- Special print runs related to significant national events or changes can enhance the bill’s historical significance.
Conclusion
While a typical $20 bill is worth only $20, specific versions—such as star notes, misprints, low serial numbers, or bills in pristine condition can be worth thousands to the right buyer. If you have old or unusual $20 bills in your possession, it may be worth having them appraised by a professional currency dealer or numismatist to see if they hold extra value beyond their face value.