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What is a Star Note? 

Star notes are banknotes issued by the Bureau of Engraving and Printing (BEP) to replace error notes and faulty notes. These are also known as replacement notes and look like any other circulating currency, except for a star at the end of the note’s serial number. Replacement notes serve as an indicator for tracking the precise number of bank notes a government issues and, as a result of their function, they are issued in relatively low numbers. 

Are Star Notes Valuable? 

Star notes are generally worth more than their face value, and others may be worth significantly more to the right buyer. There are multiple factors to consider when assessing the value of a star note, like the BEP facility where a note was produced, the series year, and the serial number itself. Binary serial numbers, which contain only two numbers, radar numbers like 123454321, and other unique serial numbers on a star note contribute to its premium. 

As with numismatics, the scarcity, the market demand, and the condition of a star note greatly inform its value. The smaller the batch size of a star note, the greater its age, and its uncirculated condition all add to its value. 

Modern Star Notes (1981-Present) 

As a rule of thumb, modern star notes are worth their face value or a little bit more than their face value. There will be exceptions to this like star notes with unique serial numbers or star notes issued in small batches.  

Older Star Notes  

Older star notes like those produced before 1981 will hold greater value than modern star notes as a result of their dwindling population sizes. It is important to remember that scarcity, condition, and market demand are the primary factors that add to the value of a star note and numerous star notes issued before 1981 sell for less than $20. 

Location of the Star on Star Notes 

Stars preceding serial numbers were issued until 1909. Star notes issued after 1909 place the star at the end of the serial number. With a few exceptions, the star itself will be fully inked. If you see a modern star note with a star that only has the stroke, or outline inked, it might be an error note.  

The stars on star notes will usually be inked in the same color as the rest of the bill. Legal Tender Notes features red stars and Federal Reserve Notes depict green stars.  

Star Notes Outside the United States 

Not all nations issue replacement notes have stars, although a few, like India and the Philippines do. Australia used star notes until 1972, when the nation began using automated counting systems that resulted in fewer damaged notes. 

List of Replacement Note Indicators by Nation 

Most of these indicators will be found at the end of the serial number of a note but some could be at the beginning of the serial number depending on when the replacement note was issued. 

Nation Indicator 
The Bahamas 
Sri Lanka 
Scotland ZZ 
Mongolia ZZ 
Hong Kong ZZ 
Singapore Z/0 
Iraq Letter/99 
Kuwait Letter/99 
Zambia X3 
Thailand Sพ 
Serbia ZA 
Nigeria DZ 

Quick Guides to Investing

Step 1:

Why Buy Physical Gold and Silver?

If you are concerned about the volatility of the stock market, you’re not alone. The extreme highs and lows of the stock market often lead investors towards safe-haven assets, like bullion. Historically, the Precious Metals market has an inverse relationship with the stock market, meaning that when stocks are up, bullion is down and vice versa.

Step 2:

How Much Gold and Silver Should You Have?

This question is one of the most important for investors to answer. After all, experts suggest limits on how much of any types of investments should go into a portfolio. After deciding to purchase and own Precious Metals and considering how much money to allocate, one can then think about how much and what to buy at any point in time.

Step 3:

Which Precious Metals Should I Buy?

With the frequent changes in the market and countless Precious Metal products available, choosing investments can be difficult. Some want Gold or Silver coins, rounds or bars while others want products that are valuable because of their design, mintage or other collectible qualities. Also, collectors may shop for unique sets and individual pieces for their collections.

Step 4:

When to Buy Gold & Silver

After considering why, how much, and what Precious Metals products to buy, an investor’s next step is when to buy them. This decision requires an understanding of market trends and the impact of economic factors on precious metal prices.

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