Yahoo Finance Typo spotted on $50 banknote - but is it worth more?
The $50 banknote contains a typo on the word “responsibility” in three places.
One eagle-eyed Aussie has spotted a typo - well, three actually - on their $50 banknote, leading some to question whether it could mean the note is worth more than its face value.
The error, which was confirmed by the Reserve Bank (RBA) in 2019, was rolled out in October 2018 and contains the misspelling of the word “responsibility” three times.
The microscopic text is taken from Edith Cowan’s maiden speech to parliament, with the typo located just above her shoulder on the banknote. The word “responsibility” is missing the third “i” and reads “responsibilty”.
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Coin expert Matthew Thompson from Thompsons Coins said, unfortunately, the banknotes were not worth more as a result of the error.
“There were 46 million of them produced so they don’t have the rarity factor,” Thompson told Yahoo Finance. “Generally, when we’re looking at collectible coins or banknotes, one of the main contributing factors to high value is rarity or availability.
“So, if there are fewer of something available, in turn, the price usually goes up accordingly. So, when you have 46 million of something available, despite the fact that there was a small error on it, it doesn’t actually categorise it as a rare collectible.”
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The RBA notes the spelling error has been corrected, and $50 banknotes printed since 2019 have the correct spelling.
“These banknotes are legal tender and can continue to be used as normal,” the RBA’s website notes. “The spelling error does not affect their validity and functionality in any way. They will not be withdrawn from circulation.
$50 notes that are worth more
While the $50 note with the typo isn’t worth more, Thompson said there were other little details that could increase the value of banknotes.
“Something that people can look out for is the serial numbers. Something that is definitely collectible are things like solid serial numbers,” Thompson told Yahoo Finance.
“If they are all the same number or something interesting like that, they can have a significant value. You can be talking hundreds and thousands of dollars.”
Another thing to look for is “radar” - or palindrome - serial numbers. Thompson said these were numbers that read the same front to back. For example, “1234321”.
“I generally suggest to people that if you look at a coin or a banknote and there’s something interesting or out of the ordinary about it, there’s a possibility that other collectors will agree with you and, in turn, there’ll be higher value on them,” Thompson said.
“It’s always good to double-check in advance and do a bit of research and speak to a professional if you’re unsure.”
While you are searching for rare banknotes, keep an eye out for a rare $50 banknote from 2014 that could be worth up to $1,500, depending on its condition.
The banknote’s serial number needs to start with AA14 or JC14, and there needs to be the signature of Glenn Stevens and Martin Lee Parkinson.
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