The $1 bill and the U.S. Mint
The $1 bill is the smallest denomination of United States currency currently in circulation. It features a portrait of George Washington on the front and the Great Seal of the United States on the back. The $1 bill is printed by the Bureau of Engraving and Printing (BEP) and is minted by the United States Mint.
The U.S. Mint is a bureau of the Department of the Treasury responsible for producing coins for the United States. It was established in 1792 and is headquartered in Washington, D.C. The Mint also produces medals, tokens, and other numismatic items.
According to officials, “two batches of $1 bills were printed in 2014 and 2016 with a specific error from the U.S. Bureau of Engraving and Printing, and they went into circulation before it was noticed, the personal finance blog reported. The first batch was issued in New York and the second in Washington D.C., for a total of 6.4 million banknotes. Under the right condition and matching serial number, currency collectors are willing to pay between $20,000 and $150,000 for a pair from these batches. Only nine of these extremely rare pairs have been matched, leaving millions of these special $1 bills out there.
How to check your $1 bills? WealthyNickel says look for the following:
- Series date that reads “Series 2013.” The series date can be found on the right side of the George Washington photograph.
- The “B” Federal Reserve Seal above the serial number.
- The serial number features a star and sits somewhere between “B00000001★ – B00250000★” or “B03200001★ – B09600000★”
- You must have two $1 bills that match this criteria.
History of errors on the $1 bill in circulation
The $1 bill is the most common denomination of U.S. currency in circulation, and it has a long history of errors. Some of the most notable errors include:
- 1869 printing error: In 1869, a printing error resulted in the Treasury seal being omitted from the back of the $1 bill. This error is known as the “seal-less $1 bill,” and it is one of the most valuable errors in U.S. currency.
- 1934-1935 printing error: In 1934 and 1935, a printing error resulted in the date on the $1 bill being printed upside down. This error is known as the “upside-down date $1 bill,” and it is another valuable error.
- 1963 printing error: In 1963, a printing error resulted in the “E” in “ONE” being printed backwards. This error is known as the “backwards E $1 bill,” and it is a relatively common error.
- 1995 printing error: In 1995, a printing error resulted in the Treasury seal being printed in the wrong color. This error is known as the “wrong-color seal $1 bill,” and it is a relatively rare error.
- 2014 and 2016 printing error: Two batches of $1 bills were printed in 2014 and 2016 with a specific error from the U.S. Bureau of Engraving and Printing, and they went into circulation before it was noticed.
In addition to these printing errors, there have also been a number of other errors on the $1 bill in circulation. These errors include:
- Mismatched serial numbers: Some $1 bills have been found with mismatched serial numbers. This error is likely due to a mistake at the Bureau of Engraving and Printing.
- Counterfeit bills: Counterfeit $1 bills are a problem in the United States. These bills are often made with high-quality counterfeit materials, and they can be difficult to distinguish from genuine bills.
- Mutilated bills: Mutilated $1 bills are bills that have been damaged in some way. This damage can be caused by fire, water, or other factors.
If you find a $1 bill with an error, it is important to keep it. Error bills can be valuable, and they can also be interesting to collectors.
