Star Notes:
A star note is a United States bank note that has an asterisk (*), or star, after the serial number. The Bureau of Engraving and Printing inspects currency for printing errors prior to releasing notes into general circulation. When notes are discovered that have been printed incorrectly the misprinted "error notes" are replaced with star notes because no two bills within a certain series can be produced with the same serial number. They are used to maintain a correct count of notes in a serial number run. By their nature, star notes are scarcer than notes with standard serial numbers and as such are widely collected by hobbyists.
Mule:
A mule is where the plate size of the face and back do not match. This doesn't mean that the plate numbers are mismatched, but the physical size of the numbers is mismatched. In the late 1930s plate number size changed from 0.5 mm to 1.0 mm.
Mules are produced in two ways. The first and most common mule is leftover stock of backs that were already printed from the previous series. The second occurs when old plates are reused.Error:
There are many different varieties of error notes that vary across many different types. Some examples of errors include but are no way limits to: Major Errors (Rarest), Type Errors, Fold Over Errors, Cutting Errors, Alignment and Offset Errors are the main ones but there are definitely some miscellaneous ones.
Serial Numbers:
Also know as the control number, placed on all U.S. Bills below left-center and above right-center. No two bills in the same series has the same serials. There use in not only for counting and sorting but also a counterfeiting deterrent. Collectors like to collect all sorts of serial number combinations or fancy serials as they are called. Some examples are as follows:
Solids: 55555555,66666666 Ect..
Number ones: 00000001
Low serials: 00000023
Radars: 34677643
Ladders: 2345678 or 6543210
Repeaters: 56565656, 23452345, 54335433
Progressives: 00000006, 00000066, 00000666
Large Denomination:
Today, the base currency of the United States is the U.S. dollar, and is printed on bills in denominations of $1, $2, $5, $10, $20, $50, and $100.
At one time, however, it also included five larger denominations. High-denomination currency was prevalent from the very beginning of U.S. Government issue (1861). $500, $1,000, $5,000, $10,000 and $100,000 interest bearing notes were issued in 1861, and $5,000 and $10,000 United States Notes were released in 1878. There are many different designs and types of high-denomination notes.
The high-denomination bills were issued in a small size in 1929, along with the $1 through $100 denominations. The individual featured were as follows:
$500: William McKinley
$1,000: Grover Cleveland
$5,000: James Madison
$10,000: Salmon P. Chase
$100,000: Woodrow Wilson
All were printed in green, except for the Series of 1934 gold certificate which were printed in orange on the obverse. These Series 1934 gold certificates of denominations $100, $1,000, $10,000, and $100,000 were issued after the gold standard was repealed and gold was required to be purchased by order of President Franklin Roosevelt on March 9, 1933 and thus were used only for intra-government transactions and not issued to the public. Of these, the $100,000 is an odd bill in that it was printed only as this Series 1934 gold certificate. This series was discontinued in 1940.
Although they are still technically legal tender in the United States, high-denomination bills were last printed in 1945 and officially discontinued on July 14, 1969, by the Federal Reserve System. The $5,000 and $10,000 effectively disappeared well before then. Of the $10,000 bills, 100 were preserved for many years by Benny Binion, the owner of Binion's Horseshoe casino in Las Vegas, Nevada, where they were displayed encased in acrylic. The display has since been dismantled and the bills sold to private collectors. Also, there is one large size, 1800's-era $1,000 bill in the Birdcage Theater in Tombstone, Arizona underneath the glass counter top.
The Federal Reserve began taking high-denomination bills out of circulation in 1969. As of May 30, 2009, there were only 336 known $10,000 bills in circulation; 342 remaining $5,000 bills; and 165,372 remaining $1,000 bills. Due to their rarity, collectors will pay considerably more than the face value of the bills to acquire them.
For the most part, these bills were used by banks and the Federal Government for large financial transactions. This was especially true for gold certificates from 1865 to 1934. However, the introduction of the electronic money system has made large-scale cash transactions obsolete. When combined with concerns about counterfeiting and the use of cash in unlawful activities such as the illegal drug trade, it is unlikely that the U.S. government will re-issue large denomination currency in the near future, despite the amount of inflation that has occurred since 1969.
The $500 bill featured William McKinley on the obverse and the words "Five Hundred Dollars" on the reverse. It was released as a small-size Federal Reserve Note (sometimes nicknamed "watermelon notes" due to the design on the reverse) in 1928, 1934 and 1934A, and a small-size Gold Certificate in 1928.
The $1000 bill featured Grover Cleveland on the obverse and the words "One Thousand Dollars" on the reverse. It was printed as a small-size Federal Reserve Note in 1928, 1934 and 1934A, and a small-size Gold Certificate in 1928 and 1934. As of May 30, 2009, there are 165,372 $1,000 bills in private hands.
The $5000 bill featured James Madison on the obverse. There is a large-sized $5000 Federal Reserve Note on display at the Smithsonian Museum of American History. The $5000 bill was printed as a gold certificate in 1928, and a federal reserve note in 1928, 1934, and 1934A.
Salmon P. Chase appears on the $10,000 bill. As of May 30, 2009, there are 336 $10,000 bills in private hands.
The $100,000 bill was released only as a Gold Certificate in the series of 1934. Woodrow Wilson's image was shown on the obverse, while its obverse contained the "100,000" denomination printed in several places in orange- or gold-colored ink. One of the bills is on display at the Smithsonian's Museum of American History; the Federal Reserve Bank of Richmond exhibits an uncut sheet of twelve in its Money Museum. The notes were used only for official transactions between Federal Reserve Banks and were not circulated among the general public.