Overview
Errors and misprints on Australian paper decimal banknotes are prized by collectors due to their rarity and uniqueness. These errors occurred during the pre-polymer era (1966–1993), when notes were printed by the Note Printing Branch (NPB) and later Note Printing Australia (NPA) using intaglio and offset lithography on rag-based paper.
🔍 Types of Errors (Categorised by Printing Process Stage)
1. Pre-Printing Errors
- Paper Fold Errors: A corner or edge of the paper is folded during printing, leading to a missing section of the print. When unfolded, the blank or misaligned area is visible.
- 🔹 Most common on $1 and $2 notes.
- 🔹 Value varies: $150–$1,000+ depending on denomination and severity.
- Foreign Object Inclusions: Debris like hair, string, fiber embedded in the note before printing.
- Rare and valued $500–$2,000+ depending on visibility.
2. Printing Errors
- Offset Printing Error (Wet Ink Transfer): A freshly printed sheet is accidentally pressed against a blank one, transferring the image in reverse on the opposite side.
- Occurs in early $1, $2, $10 notes.
- Values $400–$3,000+.
- Ink Smears & Over-Inking: Excess ink blurs the image or causes pooling.
- More visible on larger denominations like $10, $20.
- Collectible if clear; $200–$800 range.
- Under/Inked Prints: Missing or faint elements (e.g., missing serials or portraits).
- $5 and $10 Coombs/Randall notes with under-inked features are in high demand.
- Values $300–$1,500+.
- Misaligned Printing: One or more layers (usually the intaglio) are misaligned.
- Common on 1970s $2 and $10 notes.
- Depending on displacement $200–$2,000+.
3. Cutting/Trimming Errors
- Mis-cut Notes: Notes are cut too high, low, or at an angle—sometimes showing parts of adjacent notes or margins.
- Frequently seen in bundles.
- Values: $150–$900+ depending on extremity.
- Gutter Fold: Caused by a paper fold that results in a white unprinted strip after unfolding—similar to stamp printing errors.
- Considered premium errors: $1,000–$3,000+.
- Retained Oblique Folds: More dramatic fold and miscut combined; rare and can exceed $5,000 in high grades.
4. Serial Number Errors
- Missing Serial Number: Usually due to misfeed in the overprinting machine.
- Scarce, mostly found on $1 and $2 notes.
- Value: $1,000–$5,000.
- Mismatched Serial Numbers: Each note has two serials—if they don’t match, it’s a key error.
- Super rare (only a few known examples).
- Auctioned examples range from $5,000–$25,000.
- Double Serial Numbers: Serial appears twice in the same spot or overlaps.
- Considered freak printings, highly collectible.
Notable Error Examples by Denomination
$1 (1966–84) Paper fold + miscut $200–$1,200 Often seen due to volume printed
$2 (1966–88) Gutter fold, smudged ink $300–$2,500 More scarce in last prefix notes
$5 (1967–92 ) Missing serial $1,500–$4,000 Especially on Johnston/Fraser
$10 (1966–88) Wet ink offset, corner fold $500–$3,000 High-grade errors attract premiums
$20 (1966–92) Double print, under-inked$800–$4,000 Less common than lower denominations
$50 (1973–95) Cutting error, folded corner $1,000–$5,000+Rarer due to lower early print runs
$100 (1984–91) Misaligned offset $2,000–$6,000+Very rare in paper notes
Here are the current 2025 estimated values for major error types on Australian paper decimal banknotes (1966–1993) — focusing on UNC examples and based on recent auction results
1. Paper Fold & Gutter Fold Errors
Corner Fold $1, $2, $10$150 – $500
Full Gutter Fold $2, $5, $10, $20$1,200 – $3,000+
Retained Oblique Fold $2, $10, $20$3,000 – $7,500+
2. Printing Errors
Offset Wet Ink Transfer $1, $2, $10 $800 – $2,500
Ink Smear / Over-Inking $1, $2, $20 $300 – $1,200
Under-inked / Missing Print $5, $10, $20 $500 – $2,000
Missing Design Layer $1, $2 $600 – $2,500
Double Print $10, $20 $1,500 – $4,500+
3. Serial Number Errors
Missing Serial $2, $5, $10 $2,000 – $4,500
Mismatched Serial Pairs $2, $5, $10 $5,000 – $25,000+ (rare)
Double Serial Imprint $1, $2 $1,500 – $4,000
Misaligned Serial $2, $10 $400 – $1,200
4. Cutting & Alignment Errors
Minor Misalignment $1, $2, $10 $100 – $350
Major Misalignment $2, $5, $20 $600 – $2,500
Portion of Adjacent Note $2, $10 $1,200 – $3,000+
5. Notable Prefix or Signature + Error Combo
1966 $10 Coombs/Wilson
Star Note + Error $8,000 – $15,000+
1967 $5 Coombs/Randall Misprint $1,200 – $3,000+
1985 $20 Johnston/Fraser Fold Error $1,000 – $2,500
1991 $50 Fraser/Cole Overprint Error$2,000 – $4,000
Key Value Factors:
- Visual strength: Dramatic, obvious errors bring top premiums.
- Grading: UNC error notes fetch higher prices.
- Rarity: Mismatched serials and retained folds are very rare.
- Denomination: Higher value errors on $20/$50/$100 are scarcer.
- Historical prefixes: Early Coombs/Randall errors are especially sought-after.