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.
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.
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 NowA 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.
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.
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.
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.