1954 $1 replacement radar

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ewsmith
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1954 $1 replacement radar

Post by ewsmith » Tue Nov 08, 2022 6:20 am

This bill was on sale at a local auction recently. It was part of a group of 26 one dollar bills. The rest were common bills from 1967 and 1973. This was the only one from 1954. I am new to collecting banknotes but I assume a replacement bill with a 3-digit radar would be quite rare.

The auction picture had all 26 bills so it didn’t show this bill very clearly. I went to see it and took this close-up picture. I didn’t think at the time to get a picture of the back. The highlighter marks did bleed through and are visible on the back of the bill.

I was in the bidding for the bills until it got up to about $175 (including fees and taxes). I estimate that the other 25 bills were not worth much more than face value, maybe $50 in total to be generous. I wasn’t willing to pay more for this one since I didn’t have a clue what it would be worth, especially with the highlighter marks.

I was struck by how precise the highlighter marks are over the serial numbers. It was clearly done very deliberately. I would be curious to know how much this bill would be worth had it not been marked up, and how much those marks diminish the value. Without the marks I would say it is about EF, but that’s just a guess.

ewsmith
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Re: 1954 $1 replacement radar

Post by ewsmith » Tue Nov 08, 2022 6:24 am

1954 modified replacement radar.jpg
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Nota_phil
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Re: 1954 $1 replacement radar

Post by Nota_phil » Tue Nov 08, 2022 5:48 pm

I was struck by how precise the highlighter marks are over the serial numbers. It was clearly done very deliberately. I would be curious to know how much this bill would be worth had it not been marked up, and how much those marks diminish the value. Without the marks I would say it is about EF, but that’s just a guess.
I would be surprised if these were "highlighter marks." It's impossible for me to ascertain definitively (without inspecting the note) but I suspect it (or the serial number regions) came into contact with some type of solvent instead. The serial numbers are applied last (along with the signatures). When the red ink dissolves it creates that highlighted effect (an orange like blurry region on green). I've seen it before & the fact that there's bleed-through of the serials shown on the back is also a "red flag" (that the note has been processed).

The bottom line is that most old-timers (experienced collectors) would take a pass on this radar (even though it is rare). I think you were wise to stop bidding.
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ewsmith
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Re: 1954 $1 replacement radar

Post by ewsmith » Tue Nov 08, 2022 10:12 pm

Thanks for those comments. It hadn't occurred to me that it might be the ink but now that I look at it again I can see that the colour matches the ink and the smear spreads out evenly from the letters and numbers (in a circle around the asterisk for example).

I assume when you say "processed", you mean cleaned? Does this sort of ink smear ever happen as a result of a printing error?

Nota_phil
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Re: 1954 $1 replacement radar

Post by Nota_phil » Wed Nov 09, 2022 9:02 pm

I assume when you say "processed", you mean cleaned? Does this sort of ink smear ever happen as a result of a printing error?
Any doctoring/changes to a banknote is referred to as "processing," which implies that the person who is doing it is trying to make the note appear better than it is (or to be a manufactured "error," to make it more valuable etc). It is typically done with the intent to deceive novice collectors & frowned upon by most veteran collectors since once burned, the newbie usually never returns to the hobby (understandably). Processing can include pressing the note (with an iron or books), washing a note with detergent (or even bleach), cutting up a sheet &/or adding a solvent to remove a normal feature of the printing process (to make the note look like an error). I can't express how exasperating/tiring it is to read posts about "tips on washing or ironing notes."

I have never seen a true printing error that looks like that replacement/radar note. Its really disappointing to see a note like that (sort of like seeing a tear on a 1000000 # note or some profanity/graffiti written on a solid radar). It's just "a shame."

I have seen a number of 1954 notes with serial numbers doctored/processed (such as that one) & with the serial numbers removed altogether.
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ewsmith
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Re: 1954 $1 replacement radar

Post by ewsmith » Wed Nov 09, 2022 9:27 pm

Thanks for those additional comments.

I learn a lot from this site and it's very much appreciated that people are willing to share their knowledge.

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CanuckCoinGirl
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Re: 1954 $1 replacement radar

Post by CanuckCoinGirl » Sun Nov 13, 2022 3:54 pm

this could be a badly steamed note too - one that is real, but that has run when it got wet and flattened.
The signatures also look thicker.

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Re: 1954 $1 replacement radar

Post by Nota_phil » Mon Nov 14, 2022 8:32 pm

CanuckCoinGirl wrote:
Sun Nov 13, 2022 3:54 pm
this could be a badly steamed note too - one that is real, but that has run when it got wet and flattened.
The signatures also look thicker.
-That's an interesting hypothesis/possibility. It's one of the reasons we used to smell notes after seeing an odd one like the one pictured in the OP.

If it was steamed, there'd be no solvent odour. Enough heat & moisture might affect the serials & signatures (which were applied last). I would still suspect a solvent (or detergent) more than just water but one cannot discount steam. Sometimes the notes are left in pockets of the dry cleaners too (& get exposed to chemical cleaners). Often the heat & moisture makes the note shrink slightly once it dries. It would be interesting to measure the length (though the shrinkage is in mm or less) or just place it on top of another modified $1 (to compare) if it passes the smell test.
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daning333
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Re: 1954 $1 replacement radar

Post by daning333 » Wed Nov 16, 2022 8:57 am

Hi, good questions and answers

To answer your question about value, cleaning aside;

Two places I go to find values on banknotes, coins and tokens;

1) coinsandcanada.com
This is the best place as it uses confirmed auction realized prices. Tells you what the market is saying about the value of the coin or banknote you're looking at.
In this case you would go to " banknotes ", "bank of canada ", special serial number" and finally " 3 digit radar banknotes values of 1954 modified.
It will break down the signatures and prefixes.
What does not have is " replacement note radar values, at least not that I found.

2) I also use Charlton " Canadian Government Paper Money " and "Charlton Standard Catalogue Canadian Coins "
You can buy these new for under $40 and maybe able to find a slightly used one for less.

Charlton Paper Money shows notes in "UNC" value with chart showing how much to deduct for grades below Unc on the first page on the "Special Serial Number " section. It does not say how much to add for higher graded notes. It also does not break it down to signatures or prefixes which could make a big difference in value. It also does not value Replacement notes.

Current value for this note in Charlton would be $75 for Unc condition.

Current value on Coins and Canada website for Unc , Beattie-Rasminsky, is ; Unc $67.50, Gunc $78.50.

You would add value being that there were only 376,800 Beattie-Rasminsky *AA replacement banknotes printed.
You would lose value ( some say about 50% ) for a cleaned note, if it did turn out to be cleaned.
You add value ( perhaps considerable ) if you had it graded by BCS or CCCS and it turned out to be an ink bleed. It is more than fair to assume it is cleaned. I have never seen an ink bleed like that , but i'm not able to know/tell the difference.

I found the above comments a big help next time I see something like this.

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