Is Your Star Note Rare or Common? Learn What Collectors Look For

Got a star note and wondering if it’s valuable? You’re not alone. Most people don’t know that these replacement notes can sometimes be worth more than face value if they meet the right conditions.

What Is a Star Note?

A star note is a U.S. paper currency bill with a small star symbol next to the serial number. The Bureau of Engraving and Printing (BEP) uses these to replace damaged or misprinted notes during production. Instead of repeating the same serial number, they mark the replacement with a star.

These notes aren’t automatically rare. The real value comes down to how many were printed, their condition, and which Federal Reserve Bank (FRB) issued them.

Main Factors That Determine Star Note Rarity

1. Print Run Size

This is the most important factor in determining rarity. Star notes are printed in batches called “print runs.” Some are massive 3.2 million notes or more. Others are much smaller, sometimes only 16,000 to 640,000 notes per run.

In general:

  • Runs of 640,000 notes or fewer are considered rare.
  • Runs under 160,000 are very rare.
  • Anything above 640,000 is usually common.

Collectors often chase the smallest print runs, especially when they’re the only one available for a certain series/denomination/FRB combination.

2. Number of Print Runs for a Series and FRB

Each series of U.S. currency is issued across the 12 Federal Reserve Banks. Some banks may receive multiple star note runs; others may only get one. For example:

  • If a $1 2003 series for the “D” (Cleveland) FRB had only one star note print run of 320,000, it becomes highly sought-after.
  • But if a FRB received three star runs say 320K, 640K, and 3.2 million many collectors will settle for the most common one.

This lowers the demand and value of the rarer runs, even though they’re technically scarcer.

Why Are Small Print Runs More Valuable?

Collectors often try to complete star note sets. Some go by print run, others by FRB, or even both. If there’s only one print run of a small size for a certain FRB, it creates dual demand. For example:

  • A collector targeting every print run needs it.
  • A collector targeting every FRB also needs it.

This makes small, single-run star notes the most valuable in modern collecting.

You can check star note rarity using online tools like the Star Note Lookup which lists run sizes by denomination, year, and FRB.

How Does Condition Affect Value?

Condition is just as critical as rarity. A rare star note that’s:

  • Crisp and uncirculated may sell for a premium.
  • Worn, torn, or dirty often drops to face value.

Grades like “Gem Uncirculated (CU-65)” or “About Uncirculated (AU-58)” typically carry higher value. Notes in poor condition rarely attract collectors unless they are extremely rare and in demand.

Older vs. Modern Series Star Notes

Modern Series (2000s–present)

  • Print runs are carefully recorded.
  • Rarity is based on exact run sizes.
  • Commonly collected by run and FRB.
  • Easier to research and compare.

Older Series (pre-1980s)

  • Fewer detailed records.
  • Collected mainly by FRB letter.
  • Condition and total quantity printed carry more weight than run size.

In older notes, values are influenced more by demand and overall scarcity rather than print run data.

Understanding Current Series Star Notes

If your star note is from a series that’s still being printed, like Series 2017A as of May 2023, rarity can change:

  • More print runs may be added, reducing scarcity.
  • Initial value may be inflated by collector excitement.
  • Once print data settles, real market value becomes clearer.

The BEP releases monthly production reports, but notes from those runs often enter circulation months later. This delay sometimes sparks a “gold rush” effect for new star notes.

How to Check If Your Star Note Is Rare?

Follow these steps:

  1. Find the series year and FRB letter on your note.
  2. Go to a reference site like https://star-note-lookup.com/
  3. Look up the total print run size.
  4. Check if it’s:
    • A single run for that FRB.
    • Under 640,000 notes in size.

If both apply and your note is in great condition, it may be worth more than face value.