Currency Cutting Errors: Miscuts, Misalignments & Butterfly Notes
After printing, sheets of currency are cut into individual notes. When the cutting machinery is misaligned or malfunctions, the result is a cutting error — a note with uneven margins, extra paper, or even portions of adjacent notes visible. Cutting errors are visually striking and among the most easily recognized currency errors.
What This Means
Currency is printed on large sheets containing multiple note positions. These sheets are cut into individual bills by high-speed guillotine cutters. Cutting errors occur when the sheet is misaligned in the cutter, when the cutting dies are improperly set, or when the paper shifts during cutting. The result is a note that is not centered within its printed borders.
What to Look For
- Uneven margins — one side significantly wider than the opposite side
- Extra paper extending beyond the normal note dimensions
- Visible portions of an adjacent note's design along one edge
- Butterfly notes — a dramatic foldover before cutting leaving a flap
- Incomplete cuts — notes that are still partially attached
- Mismatched sizing — notes that are noticeably taller, shorter, wider, or narrower than normal
Common Mistakes to Avoid
- Confusing trimmed or damaged edges with genuine cutting errors — look for adjacent note printing
- Not measuring margins — use a ruler to document the misalignment
- Assuming all uneven margins are errors — slight variations are within normal tolerances
- Trimming the extra paper off a miscut note — this destroys the evidence of the error
- Not checking if both serial numbers are on the same note — shifted cuts can affect serial placement
What Affects Value
Cutting error values depend on how dramatic the misalignment is. Slight shifts with slightly uneven margins add modest premiums. Dramatic miscuts showing portions of adjacent notes are worth significantly more. Butterfly notes and foldover cuts are among the most valuable cutting errors. The denomination and condition also play roles in valuation.
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Scan NowFrequently Asked Questions
What is a butterfly note?
A butterfly note is a currency error where the paper folded over before cutting, creating a flap or "wing" of extra paper. When unfolded, the note has an irregular shape with a blank or partially printed extension.
How much is a miscut dollar bill worth?
Minor miscuts with slightly uneven margins might add $5-25 to a note's value. Dramatic miscuts showing adjacent note printing can be worth $50-200 or more. Extreme examples bring higher prices.
Are cutting errors easy to spot?
Yes. Cutting errors are among the easiest currency errors to identify because the uneven margins or extra paper are visible without magnification. Simply comparing margins on all four sides reveals most cutting errors.
Can cutting errors happen on any denomination?
Yes. Cutting errors can occur on any denomination because all bills go through the same cutting process. However, errors on higher denominations tend to be rarer because those sheets receive more quality control.