AI Appraisal Estimate

This is a United States Federal Reserve Note with a face value of two dollars, featuring a portrait of Thomas Jefferson. The bill is identified as a 'Star Note' by the presence of a five-pointed star at the end of the serial number (L03207020*), indicating it was printed as a replacement for a misprinted or damaged original note. The serial number begins with 'L', signifying the Federal Reserve Bank of San Francisco. It is from Series 2013, bearing the facsimile signatures of Rosa Gumataotao Rios (Treasurer of the United States) and Jacob Lew (Secretary of the Treasury). The bill features traditional green and black ink on a linen/cotton paper substrate. Physically, the note appears to be in circulated condition with visible handling marks. Notable condition issues include a soft vertical fold along the center and horizontal rippling along the top edge, suggesting it has not been stored in a rigid protector. The margins appear relatively uniform, though the bill shows the typical softness associated with standard circulation. The reverse, though not fully visible, would depict John Trumbull's painting 'Declaration of Independence.' Star notes are generally more sought after by numismatists than standard notes due to their lower print runs and roles as replacement currency.

I have evaluated the Series 2013 $2.00 Federal Reserve Star Note (Serial L03207020*). Based on my visual examination, the note displays characteristics consistent with an authentic replacement note from the San Francisco Federal Reserve District. The paper shows evidence of circulation, specifically a distinct vertical center fold and horizontal 'wavy' rippling along the top edge, classifying it in 'Very Fine' to 'Extremely Fine' circulated condition rather than 'Uncirculated.' While the Star Note designation adds a premium over face value, Series 2013 L* notes were produced in relatively large quantities (over 12 million), which limits the rarity and subsequent market value for circulated examples. Current market comparables for individual circulated common-run 2013 star notes typically range from 2x to 3x face value. A significant limiting factor is the absence of a 'fancy' serial number or a low print-run designation. This appraisal is based solely on digital images; I cannot verify paper texture, the presence of security fibers, or chemical composition. A full authentication would require physical inspection under magnification and UV light to confirm the intaglio printing feel and the absence of mechanical alterations. For high-grade numismatic valuation, third-party grading (PMG or PCGS) would be required, though the cost of grading this specific note would likely exceed its market value.