Summer Splash Coin Consigns Auction 6 of 6 Day 3
By Key Date Coins
Contact auction house
Aug 26, 2021
148 Route 73 Suite 3-184 Voorhees, NJ 08043 USA, United States
Terms of sale
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600+ Lots of premium Numismatics from around the Country including; Morgans, Peace $'s, Rare Type coinage, Rare Gold, Lg cents, ½ cents, Indians, Bust coinage, Barber coinage, Buffalo's, Currency, VAM's, Varieties, Errors, NGC/PCGS/SEGS Slabs, Original rolls of Morgans plus much, much more.....
The auction has ended
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LOT 772:
***Auction Highlight*** MAJOR MINT ERROR UBER RARE Inverted Overprint Error 1974 $1 FRN Philidelphia, PA Graded ...
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Sold for: $400
Start price:
$
25
Estimated price :
$750 - $1,500
Buyer's Premium: 20%
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***Auction Highlight*** MAJOR MINT ERROR UBER RARE Inverted Overprint Error 1974 $1 FRN Philidelphia, PA Graded CU65 By PMG. How did the inverted overprint errors happen?The BEP’s assistant director for operations at the time the Series 1974 notes were being printed, E.J. Prescott, said that, when the errors were printed, the BEP was conducting experiments with the note inspection equipment in connection with its Currency Overprinting Processing Equipment. Changes in procedure during the experimentation factored into producing the rash of errors. According to the BEP, the resulting notes were due to human error “almost exclusively.”During the experimentation, printed notes were being mechanically moved for inspection instead of being manually retrieved for examination for anomalies that would require their removal from progress toward distribution. This interruption in the usual process apparently played a significant role in creating the errors. The inverted overprint error notes occurred when 16-subject half sheets were turned the wrong direction before insertion into the overprinting equipment. All of the overprinting elements were thus inverted from their normal positioning.
