In the numismatic world, the so-called „Del Monte“ banknote has been known for 20 years. It is a 1996 US 20-dollar bill that has a banana producer sticker from „Del Monte“ of Ecuador on it. This banknote appeared on the numismatic market back in 2003, and at a Heritage auction, it achieved a record-high price for a single error banknote.
This banknote was written about a long time ago in blog “Croatian Numismatics”, but it is always interesting to share this news, for the sake of younger readers.
Banknote description
This is a completely ordinary 20 US dollar bill from 1996. The obverse of the banknote depicts American President Andrew Jackson, and the reverse shows the White House in Washington. The banknote contains the signatures of Mary Ellen Hinamon Withrow (Treasurer of the United States) and Robert Rubin (Secretary of the Treasury). This banknote was issued by the St. Louis Federal Reserve Bank, as evidenced by the printed H8 mark. The serial number of the banknote is AH24604080A.
How did this error occur?
Such unusual errors occurred during the printing of the banknote, specifically in the intermediate phase after the face of the banknote had already been printed, but before the printing of the serial number and the seal of the Department of the Treasury. This is clearly visible when we look at the banknote up close. The sticker is located over the word „TWENTY,“ part of the Secretary of the Treasury's signature, and over part of the number „2“ in the „20“ denomination marking. These parts of the banknote are printed in an earlier production stage. The numbering itself is carried out later, and along with the serial number, the seal of the Department of the Treasury is also printed on the banknote. Therefore, these elements are printed over the sticker.
According to most opinions, this error occurred accidentally. It is possible that one of the workers was eating a banana during a break, and the sticker simply fell unnoticed into the printing press and somehow passed inspection. Although the inspections themselves are quite rigorous, it is almost impossible to prevent errors from appearing in circulation from time to time. According to some opinions, this was a deliberate prank and the sticker was placed there on purpose. The argument for this is that the sticker was placed precisely where it would be noticeable that it was stuck on during an intermediate stage of printing. Be that as it may, the banknote entered circulation and immediately became famous, both in numismatic circles and among the general public. It even appeared on the covers of the magazines „Bank Note Reporter“ and „Numismatic News“.
Numismatic value of a banknote
This „Del Monte“ banknote appeared in public after a student in Ohio received it from an ATM. The banknote was brand new and in mint condition. In such condition, it was sold on eBay in 2003 for $10,100. The banknote appeared for sale again three years later and, on January 6, 2006, was sold at an auction by Heritage Auctions of Dallas, Texas, for $25,300.
Meanwhile, the banknote was certified by Paper Money Guaranty in 2020. It was offered for sale again on January 22, 2021, once more at Heritage Auctions. This time it sold for an incredible $396,000 (approx. €325,000), which is currently a world record for a banknote with an error.
Author: Zlatko Viščević
Photos: Heritage Auctions [www.ha.com]
