Bills with errors can cost you thousands of dollars

Some American coin and currency collectors are willing to pay thousands of dollars for rare one-dollar bills that have a specific printing error made by the U.S. Bureau of Engraving and Printing.

Chad Hawk, vice president of PMG, a professional paper currency grading company, told Fox Business that the US Federal Reserve printed two sets of one-dollar bills: one in 2014 and another in 2016, with one specific error. As a result, more than 6 million incorrectly printed $1 bills were put into circulation before the error was discovered.

The problem arose, the expert explained, when dollars were printed with duplicate serial numbers, and each banknote in circulation must have a unique serial number to identify it. The U.S. Bureau of Engraving and Printing reportedly did not notice the error, but currency collectors took notice.

They now work with consumers to hunt for bills within a range of serial numbers and ultimately hope to find matching pairs of dollar bills with the same serial numbers, since that is where their value lies.