Why this man turned down over 3 million lei for a bill inherited from his grandmother

Last update:November 22, 2024, 5:15 PM IST

Tommy, the proud owner of the 1988 note, discovered that it had a striking misprint, distinguishing it from the regular coin.

The front of the note has a striking misprint with overlapping sections of the design. (Representative image/Reuters)

A man who inherited a rare $5 (Rs 422) note from his late grandmother could be sitting on a small fortune – although he has no intention of parting with it. Tommy, the proud owner of the 1988 note, discovered that it had a striking typographical error, distinguishing it from ordinary currency.

The front of the note has a striking misprint with overlapping sections of the design. In the lower right corner, the large number “5” appears printed twice, out of alignment with the rest of the layout, creating a stacking or offset effect. A misaligned ink mark also appears in the lower right, an error usually found on the verso. On the back, a blank area extends unusually in the middle, replacing the printed information that should be there.

Charlotte Carroll, Tommy’s girlfriend, posted a video of the single coin on TikTok, calling it the “craziest bill I’ve ever seen”.

“We’ve had people offer between $5 and $400,000 (Rs 3.3 crore) for it and … we refuse,” Carroll told Newsweek, explaining that the bill has deep sentimental value to them.

She revealed that Tommy’s grandmother, who once worked in the finance department of Universal Studios in California, included the rare coin in her collection. Now, it serves as a treasured family heirloom.

Palm Island Coins, a Florida coin and coin company, noted that “currency errors” like the one on this $5 bill are among the most “dramatic” and sought after by collectors. The company lists a similarly misprinted $1 bill for $1,249, while another defective $5 bill is priced at $1,800.

“It’s perfectly legal to own and they’ve become an amazing part of the paper collecting hobby!” said Palm Island Coins.

Paper currency expert Wyatt McDonald explained that misprints on modern currency are relatively common and usually only add a modest premium of two to three times the face value of the note. Older mistakes, especially those with red, blue or gold seals, tend to be significantly more valuable.

In contrast, a misprint of a modern green seal note generally adds only a modest premium. “That said, they are great conversation starters and meaningful, sentimental pieces,” added McDonald.

For Carroll and Tommy, the sentimental value of their unique $5 bill far outweighs any financial offering. “It’s our most favorite and most priceless piece of anything in our collection,” she shared with the press.