**Old thread revival warning**
I have a couple of technical questions regarding the production of FRN specimen notes. A number of earlier posts here explain the purposes for producing specimen notes such as these:
Specimen notes are basically 'specimens' for financial institutions or entities that deal with large volumes of cash on a daily basis. They are mainly produced when a new series or note (such as the upcoming $100 USD note) is about to enter circulation. This allows workers to examine and understand what special security features or other aspects of the notes that might help them to process the notes and recognize them as legitmate, when the notes actually begin circulating.
Wow, what a broad question! Specimens were made (and are still made) for all sorts of reasons, and range from Unique to very common.
Fractional Currency specimens were sold to the public in sets.
Specimens can be found in books (albums) prepared by bank note companies, for presentation or for salesmen to show to prospective buyers.
They can be made to test plates, papers, presses, etc., and are occasionally found in the estates of engravers or other Treasury officials.
They can be made for foreign governments.
They can be made for presentation (i.e. the Fractional Currency presentation books of 1866).
Today Federal Reserve Banks, the Smithsonian Institution, and other government agencies can order specimens from the Treasury for display or other purposes.
The list goes on...
And this doesn't even touch on the question of what a "specimen" is vs a "proof" (the dividing line is rather fuzzy)!
notes on the other hand were printed on regular bond paper and on both sides. That is, they were essentially the same as issued notes except that they usually have "SPECIMEN" either printed on or punched into the paper so that they could not be used for circulation. Typically specimen notes were printed in larger quantities than proofs since they were actually sent to the banks so that they could tell real ones from fakes, etc.
The six 1977 FRN specimen notes pictured below have sold on Heritage at one time or another:
My questions are:
- As the above six specimen notes all have the same serial regardless of plate position, is it safe to conclude that all 32 positions on the sheet were overprinted with the same serial?
- Are/were specimen notes produced exclusively priorto the introduction of a new series? Or do they continue to be produced for a given series even afterregular production of that series has been underway for a time?