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Steve in Tampa
Sorry about the title, it's my version of click bait.

I have a question for modern star note collectors.

Are you happy with a GEM star note from any of the districts, or do you take it one step further and chase low print runs within that district ? Starting around 1999 with one dollar star notes, the Standard Guide to Small-Size U.S. Paper Money Guide went into detail within district star notes and listed run size and relative values. In other words, a series 2003A Atlanta star note from run 1  (3,520,000 notes) is worth considerably less than run 3 (320,000 notes)....same series, same district. I witnessed an auction this morning on eBay, where a series 2013 $1 San Francisco star note from run 1 (80,000 notes) sold for over $460, and there are several more of this series, district and run for sale (Buy it Now) for $649 and $999. I'm wondering if print run size is going to make any difference to collectors 10 or 20 years from now. I only see this phenomenon on eBay, and have yet to see any other auction sites reference low print runs for modern star notes.

Do you chase low print runs on modern star notes ?
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Delistamps
Personally, I don't differentiate between the print runs of the same Fr. number note. 
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EarlySmallSizeFanatic
Run size generally doesn't matter to me. 

I mainly collect early small size notes. Back then the standard run size for stars was 12,000 notes (4,000 on $50 and $100). 


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Dan Cong
One could consider blocks the same, as they are not differentiated by Fr number, and certain blocks are far more valuable than others. Once you catalog (as in S&L) print run rarity or block rarity, people will collect that variety. Long term potential - who knows as things do go in and out of favor, and print run is a bit esoteric as a variety. If you consider first type, for instance federal reserve note (like 1999, 2001, 2003) as a type, then district, then block, then stars in district, then print run, you have a large amount of notes to collect where I would be happy with a single nice example of type. The completist is pretty far out on the collector curve, but obviously there were at least two in competition for the note you mention.
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notehunter494
I absolutely collect by run size.  Anything esoteric is going to explode in value as this hobby grows.  When I first started collecting US small size notes there was Ted Kem's book the Donlon Catalogs the always useless Black Book and if you could find it The Standard Handbook of Modern US Paper Money as references and some dealer publications.  Collecting paper money was by definition folks who collected US large notes, or world.  US small currency was outside of the hobby, almost a joke.  I think run size along with mules, changeovers, experimentals etc and anything that comes to the forefront as a result of research is going to rock the hobby.  Yes, run size is big.
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Delistamps
I don't get it. I think it is easy to differentiate between blocks; there is no visible difference between notes of two runs, is there? Suppose there's a run of 128,000 followed by a second run of 256,000. They've got consecutive serial numbers. I don't view a note from the first as different than one from the second, just as I wouldn't view them differently if they were from a single run of 384,000. What am I missing here? 
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gnat
While collecting by print run is not something that particularly interests me, for modern notes and especially $1 FRNs (which when you delve into them have a huge number of varieties), I can see the appeal.

There are a number of collectors who are avid about $1 FRNs. Like all collecting, completeness is a common goal. Competition for scarce and key notes will naturally drive up prices. And, as with collecting varieties (mules, etc.), it is also an exploration of understanding the underlying processes of the production of currency.

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Steve in Tampa
As a hard core star note run collector, I see the difference between the large and short run stars as availability.

Modern large run star notes are typically distributed in packs, and short run star notes are typically distributed 2 at a time and intermingled in packs of non-star notes.
You can purchase a pack of 100 series 2013 large run $1 San Francisco star notes for $150, and an individual short run star from the same series is pushing $500.

Very detailed information is available online at uspapermoney.info, and comparative selling prices can be viewed at Robert Azpiazu's website First City Currency as well as his price guide. Along with this thread, I sent out an email to a couple of dozen dealers and collectors I know. I have received many interesting replies....the most interesting so far is this one.

Always good to hear from you. Collecting notes by print run was started by Chuck O’Donnell
back in the late 60’s . His books all had the FRN’s broken down by the runs. There were even
gap stars that some want all 32 sheet positions . Once he retired , his book was taken over by
Dean Oakes and John Schwartz. SO this is not something new. Like then there are very few
collectors that do this . It is a very limited group, usually with deep pockets. So they bid up these scarcer runs
in order to be the “First that has one “ . I don’t see it any different now than yesteryear.

So now I know that this short star run chasing is in fact not new.


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jhodgson
I do not collect by runs. I do collect if the note is printed in DC or FW.

However, if do come across a rare print run in change, I will keep it.

Want to increase your knowledge about US small sized currency? Find interesting tidbits about US small size currency:

https://www.facebook.com/American-Paper-Connection-Inc-585643014808093/?ref=bookmarks
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Dan Cong

There are people who collect plate positions too, at least in stamps, famously the GB penny black of 1840.  I see references to runs and plate positions for MPCs as well. But if you look at LGS vs DGS, even though they have separate catalog numbers, there is more of a spectrum of variety than discreet beginnings and ends.  My point is that a collectible variety can become something like zeno's paradox of divisibility, the closer you look at it the greater the number of variants there will be. It can throw up things like the "secret mark" on the 1928B $10s, and whether these qualify as a variety or not, and then, collectability of such variants. Certainly, the hobby is richer for having people who research these things. And, obviously, when bidders run up the price of short print runs stars, there is economic force there too. But I can guarantee I will not be rushing out to equal their feats of spending in any way shape or form. I started out thinking I would collect all varieties of 1928 and 34 $5's, and after a while realized, that is an impossible task for me. Now I am happy if I can complete the 21 notes for small sized fives in the PCGS registry. Of course it ten years I might kick myself for not picking up the current short print runs when they were "cheap", but i'll have to live with that then.

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notehunter494
Yes, O'Donnell's book.  "The Standard Handbook of Modern US Paper Money".  I was lucky enough to run into a copy in the late '70s in a second hand bookstore in lower Manhattan.  It was in loose leaf style before the bound soft cover reprints.
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Colt45auto
Yes, I seek out and save the low print STAR note runs too....  These will always hold their value and its fun looking for them. To each their own I guess.
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Steve in Tampa

I was recently viewing the PMG population report and saw something unusual. The report shows an Fr.1928-K*, with 6 graded. The 2003 $1 FRN Dallas star notes (3.2M) were all printed at the Western Currency Facility in Fort Worth, which would make it an Fr.1929-K*. PMG shows over 500 of these graded. Is the Fr.1928K* a misattributed typo of sorts ?  

DB86A500-7162-4CAD-B2C2-8C15FCE85910.jpeg  63D41B29-B181-4F09-B720-00711FC9F150.jpeg 

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gnat
Steve, During the early years, PMG's population reports did not take note of many varieties (it still lists some varieties that don't exist or misattributes them). It is entirely possible (almost a certainty) that PMG misattributed the DC notes above.
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jhodgson
gnat wrote:
Steve, During the early years, PMG's population reports did not take note of many varieties (it still lists some varieties that don't exist or misattributes them). It is entirely possible (almost a certainty) that PMG misattributed the DC notes above.


Agree,  My $10 FRN Series 1934 E-Star mule is shown as a mule on the holder, but it is not listed as such on the pop report.

Want to increase your knowledge about US small sized currency? Find interesting tidbits about US small size currency:

https://www.facebook.com/American-Paper-Connection-Inc-585643014808093/?ref=bookmarks
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Cody71086
gnat wrote:
Steve, During the early years, PMG's population reports did not take note of many varieties (it still lists some varieties that don't exist or misattributes them). It is entirely possible (almost a certainty) that PMG misattributed the DC notes above.


I remember when I cleaned up the PCGS-C pop report there was a near-full pack run of some modern $10 that was listed as a FW(or DC)  printing that simply didn't exist. Mechanicals can muddy up the pops.
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notehunter494
I have been hooked on low print modern star notes since the late '80's.  I started with a partial loose leaf copy of O'Donnell's book I found in a used book store in the lower east side in Manhattan, maybe the Strand, and I used to get the monthly reports mailed to me.  I still have those all in a loose leaf binder.  I have more specimens than I care to think about, straps as well.  I am still actively trying to find Run one for the first SOI print 2006 $20 San Francisco district DC print facility, I believe it was 128K or 320K print run, off the top of my head I cannot remember.  I guess the whole pallet was shipped overseas or is in some drug dealers crib, or just plain destroyed by the BEP for some reason.  Maybe someone here has one??
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Steve in Tampa
From the first batch of $20 replacement notes printed on the new SOI presses. Printed in October 2008 (640K).
677B3CBD-5403-497E-851E-A62541285E6E.jpeg  F712F4B9-4ADA-4947-8189-449925ABAFD7.jpeg 
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xxJOExx
From the first batch of $20 replacement notes printed on the new SOI presses. Printed in October 2008 (640K).

Sharp-looking note!

I have been hooked on low print modern star notes since the late '80's.  I started with a partial loose leaf copy of O'Donnell's book I found in a used book store in the lower east side in Manhattan, maybe the Strand, and I used to get the monthly reports mailed to me.  I still have those all in a loose leaf binder.  I have more specimens than I care to think about, straps as well.  I am still actively trying to find Run one for the first SOI print 2006 $20 San Francisco district DC print facility, I believe it was 128K or 320K print run, off the top of my head I cannot remember.  I guess the whole pallet was shipped overseas or is in some drug dealers crib, or just plain destroyed by the BEP for some reason.  Maybe someone here has one??

In all probability, the run simply does not exist.  Star runs aren’t shipped en masse anywhere for distribution but are interspersed as needed throughout regular blocks over a period of weeks or months.  As every 2006 $20 DC print run from July 2009 through the end of the series has been accounted for, those IL-*s would have turned up by now if they existed.
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notehunter494
Hey Steve...I have the exact note you have posted above but with a Micro front plate number in vf if I remember.  I believe it to be unique.  I have a couple of micro fp's for the IE block as well.  I live in a chaotic situation but will try to find it next week and post a pic.  
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synchr
jhodgson wrote:
I do not collect by runs. I do collect if the note is printed in DC or FW.

However, if do come across a rare print run in change, I will keep it.

Yet you make a "No" sound just like a "Yes"
🙂
I respect your collecting as I feel it is at a top level 
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tigertrader

I usually try to collect a super grade example of each denomination and series. Then I also collect low print runs of modern (1970+) star notes. I don’t go after all the runs but instead just focus on the low prints. I won’t go crazy on them but I have paid up to $300 for 1. I also have never lost money on any I have flipped...

Much prefer to just knock it all out with 1 note. Super grade low print star note, ideally with only 1 run! 
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