The $20 Bill Worth $400,000: How a Banana Sticker Made History
There are many dollar bills that, due to their age and/or printing errors, can be highly valued in the numismatic market. Can you imagine paying US$400,000 for a bill that had a sticker at the time of its manufacture?
Although it may seem crazy to many, collectors are willing to pay a lot of money for special notes. This is the case of a copy with the portrait of President Andrew Jackson, since its detail is truly unique.
A $20 bill became valuable because of a singular detail: it had a banana sticker from Del Monte, Ecuador. This specimen was found by a college student in Ohio when he went to an ATM to withdraw some cash during the summer of 2004.
The young man was surprised to see the bill with the sticker stuck next to President Andrew Jackson’s face. That same year, he sold it for about $10,000 on eBay after 12 bids, according to Numismatic News.
Some experts believe the sticker was intentionally placed on the $20 bill by an employee at the Bureau of Engraving and Printing facility in Fort Worth, Texas, Paper Money Guarantee explains.
Regardless of what actually happened, “The Del Monte Note” became highly prized by collectors, Dustin Johnston, auction director at Heritage Auctions, explained in a press release.
So, those $20, in January 2006 was auctioned for $25,300, according to Heritage Auctions. And, in 2021, it sold for much more: $396,000 to be exact. The amazing thing is that there was a strong struggle. But what makes a bill with a sticker so valuable?
US dollar bills have various denominations, represented by the values printed on each bill. The names are:
$1 bill
$2 bill
$5 bill
$10 bill
$20 bill
$50 bill
$100 bill
The dollar bill designs are characterized by the fact that they include the portrait of a famous American person and images that reflect aspects of the country’s history, as well as the most advanced anti-counterfeiting measures.
In the United States, the entity responsible for issuing dollar bills is the Bureau of Engraving and Printing of the Department of the Treasury. This office, also known as BEP for its acronym in English, is responsible for designing and producing legal tender banknotes in the country.
The entity responsible for issuing coins in the United States is the United States Mint. The United States Mint is a federal government entity in charge of minting coins and manufacturing medals.
So, what makes this $20 bill, adorned with a banana sticker, so valuable? The uniqueness and rarity of the bill’s detail play a significant role in driving up its value. The numismatic market has proven time and time again that collectors are willing to pay significant amounts of money for truly unique and special notes. And in the case of “The Del Monte Note,” its appeal has only grown over the years, culminating in a staggering $396,000 sale in 2021.