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.