Paper Money
Star Notes: How to Spot One and What Makes It Valuable
A star in a banknote's serial number means it's a replacement note. Here's how to spot star notes, why some are worth a premium, and how to check yours.
Look closely at the serial number on a dollar bill. If there’s a small star (★) at the end, or at the start on many older notes, you’re holding a star note. Most are worth face value. Some are worth far more. Here’s how to tell the difference.
What is a star note?
When the Bureau of Engraving and Printing finds a misprinted sheet, it pulls the bad notes and replaces them with new ones. Those replacements can’t reuse the original serial numbers, so they get their own serial run marked with a star. The star simply says: this note replaced another one.
That’s why star notes are scarcer than regular notes from the same series. Far fewer are printed.
How to spot one
Modern Federal Reserve Notes: the star sits at the end of the serial number, in place of the last letter.
Older small-size notes (like many Silver Certificates and red seal United States Notes): the star usually comes at the start of the serial.
Graded notes: PMG and PCGS Banknote labels note the star, usually with ★ next to the catalog number.
What makes a star note valuable
Not every star is special. Value depends on:
Print run size. Star notes are printed in runs, and smaller runs are scarcer. Collectors generally treat runs of 640,000 notes or fewer as the ones worth a closer look.
Age and series. Older series, especially from the 1930s through the 1950s, bring stronger premiums than recent ones.
Condition. A crisp uncirculated star note is worth much more than a folded, worn one. On graded notes, EPQ (PMG) or PPQ (PCGS Banknote) means the paper is original and unprocessed.
Fancy serial numbers. A star note that is also a low serial, a solid (all one digit), a radar (reads the same backwards) or a ladder (like 12345678) can be worth a big multiple.
Type. Scarce types, like 1934 and 1935A Hawaii overprint notes or North Africa notes, are valuable as stars.
How to check your star note
Write down the series year, denomination, Federal Reserve district and the full serial number.
Look up the serial range on a star note lookup site to find the run size.
Check recent sold listings for the same series and grade. Match the star, not just the series: a regular note is not a comp for a star.
If it’s old, crisp or has a fancy serial, consider grading with PMG or PCGS Banknote.
Keep your notes organized
Kilito reads banknotes the same way it reads coins. Snap a photo and it records the series, serial number, star status, Friedberg or Pick number and grade, then finds market comps that match star to star. Join the free beta.
