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Olevian Numismatic Rarities

1976 $2 Small Size Legal Tender Note // Offset Printing Error // PMC Certified Gem Uncirculated 66 EPQ

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Product Description

Despite exquisite quality control at the U.S. Bureau of Engraving and Printing, numerous errors are known to occur during the printing and production of paper money. These error notes are typically discovered and destroyed by inspectors. In an exceedingly small number of instances, however, error notes escape recognition and enter circulation. Approximately two dozen distinct types of paper money errors exist, some of which can be quite bizarre and very rare.

Offered here is a 1976 $2 note with an “offset printing error.” Under normal operating conditions, a sheet of currency feeds between the printing plate and an impression cylinder. If paper fails to enter the press, the printing plate will strike the cylinder and leave a wet ink impression. When subsequent sheets are fed through the press, they will pick up both the correct inking from the plate as well as the wet ink from the surface of the cylinder. This creates an offset error with the image in retrograde. With each successive sheet, the darkness of the offset image will lighten. You will receive the remarkably unique note shown in the photos, accompanied by a certificate of authenticity.

Federal Reserve Notes (FRNs) are the only banknotes currently produced in the United States. They were first authorized by Section 16 of the Federal Reserve Act of 1913 and are issued to the Federal Reserve Banks at the discretion of the Board of Governors of the Federal Reserve System. The notes are then placed into circulation by the Banks, at which point they become liabilities of the Federal Reserve Banks and obligations of the United States. FRNs are legal tender and bear the obligation "this note is legal tender for all debts, public and private" printed on each note. They replaced United States Notes, which were once issued by the Treasury Department. FRNs are backed by the assets of the Federal Reserve Banks, which serve as collateral under Section 16. These assets are generally Treasury securities which have been purchased by the Federal Reserve through its Federal Open Market Committee in a process called debt monetizing.

Product Details
  • Measurements
    8"L x 4.25"W x .1"H
  • OriginUnited States

Shipping Information
  • Shipping Availability
    United States
  • Shipping Policy
    FREE Shipping (contiguous US)
  • Ship In
    2-3 weeks
  • Return Policy
    Final sale, not eligible for return or cancellation

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