Gutter Fold Error Value
A gutter fold happens when the sheet of currency paper develops a wrinkle before it goes under the press. The press prints across the wrinkle, and when the sheet is later flattened and cut, the area that had been folded under is blank because no ink ever reached it.
The result is a clean unprinted stripe running through the design. It is unmistakable and it is one of the more visually satisfying errors, which is why it holds value well.
Quick facts
- Cause
- Paper wrinkled before printing
- Appearance
- Blank unprinted stripe through the design
- Also called
- Printed fold, interior fold
- Key distinction
- Not a fold added after the note was issued
Gutter Fold Errors value by condition
| Condition | Estimated value | Notes |
|---|---|---|
| Narrow gutter, edge of note | $50 to $120 | |
| Wide gutter through the design | $150 to $400 | |
| Multiple gutters | $300 to $900 | |
| Gutter through the portrait or serials | $400 to $1,200 |
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Telling a gutter fold from an ordinary crease
An ordinary crease has ink on both sides of the fold line, because the note was printed flat and folded afterward. A gutter fold has no ink at all in the affected strip, because the paper was folded when the ink was applied.
Look at the edge of the note as well. On a genuine gutter fold the paper edge often shows a corresponding irregularity where the fold was cut through.
Where the gutter sits matters
A narrow blank stripe near the border is worth the least. A wide gutter running through the middle of the design is worth several times that.
The premium peaks when the gutter cuts through something that matters visually: the portrait, the Treasury seal, or a serial number. Those photograph well and attract competitive bidding.
Frequently asked questions
What causes a gutter fold on a dollar bill?
The currency paper wrinkled before going under the press, so no ink reached the folded-under area. Flattening and cutting the sheet afterward reveals a blank stripe.
How much is a gutter fold error worth?
Roughly $50 to $120 for a narrow one near the edge and $150 to $400 for a wide one through the design. Gutters through the portrait or serial numbers bring the most.
Is a gutter fold the same as a regular fold?
No. A regular fold has ink on both sides because the note was printed before it was folded. A gutter fold has no ink in the strip at all.