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The 1988 $1 STAR Federal Reserve Note in Crisp Uncirculated (CU) condition is a prized example among modern United States currency collectors. Star notes are special replacement notes printed by the Bureau of Engraving and Printing (BEP) to substitute for misprinted or damaged currency discovered during the printing process. Rather than duplicating a serial number, a new note is issued with a star symbol in place of the final letter in the serial number. These replacement notes are printed in significantly smaller quantities than their regular counterparts, and their reduced mintage makes them more desirable—especially in uncirculated condition.
The design of the 1988 $1 STAR note mirrors the familiar layout introduced in 1963 and used continuously on $1 Federal Reserve Notes. On the obverse, the portrait of George Washington dominates the center, a time-honored rendering derived from the Gilbert Stuart painting. Washington is flanked by the district identifiers: to the left is the black seal of the issuing Federal Reserve Bank, and to the right is the green Department of the Treasury seal. The words “FEDERAL RESERVE NOTE” are printed at the top, while “THE UNITED STATES OF AMERICA” and “ONE DOLLAR” are inscribed below the portrait. The serial numbers are printed in green ink in the top right and bottom left corners—distinguished on star notes by the presence of a star at the end instead of a standard alphabetical suffix.
The reverse of the 1988 $1 STAR note retains the classic imagery of the Great Seal of the United States. The left side features an unfinished pyramid topped with the Eye of Providence, accompanied by the Latin inscriptions “ANNUIT COEPTIS” and “NOVUS ORDO SECLORUM.” The right side displays the bald eagle holding arrows and an olive branch, symbols of war and peace respectively. Above the eagle is a constellation of thirteen stars. This side of the note also includes the national motto, “IN GOD WE TRUST,” and the denomination “ONE” in large, ornate lettering. The overall aesthetic remains unchanged since 1963, giving it a timeless visual identity familiar to generations of Americans.
What sets the 1988 series apart is its placement within a very specific window in U.S. paper money history. It directly followed the 1985 series and was issued during the tail end of President Ronald Reagan’s administration. The note bears the signature combination of Treasurer of the United States Catalina Vasquez Villalpando and Secretary of the Treasury James A. Baker III, both of whom served during a period of fiscal reform and monetary stability. This pairing of signatures is unique to the 1988 series and serves as a historical anchor, identifying the note’s issuance as part of a late-1980s economic narrative.
Unlike the 1988A series, which was produced at both the Washington, D.C., and Fort Worth, Texas facilities, the 1988 series was printed exclusively at the BEP's Washington, D.C. location. This limits the variations that collectors may pursue, but the lower overall mintage and shorter production run of the 1988 series make it a desirable target, especially in star note form. The 1988 STAR notes were issued across several Federal Reserve Districts, although not all twelve banks necessarily received star replacements. Certain districts saw limited replacement runs, adding a layer of scarcity to notes from specific issuing banks.
The rarity of any given 1988 $1 STAR note in CU condition depends on its Federal Reserve district, serial number block, and overall survival rate. For example, notes from major districts like New York (B) or Chicago (G) may be easier to find than those from smaller districts like Kansas City (J) or Minneapolis (I). Some replacement runs consisted of fewer than 320,000 notes per district, a fraction compared to the hundreds of millions of regular issue notes. Consequently, collectors place high value on low-print runs or unusually difficult districts when they appear in uncirculated grade.
In Crisp Uncirculated condition, the 1988 $1 STAR note should display no folds, creases, tears, or evidence of handling. The paper will be bright and firm with full original embossing from the intaglio printing process. Corners should be sharp, margins balanced, and the ink bold and crisp. In this pristine condition, the note is well-suited for long-term storage and investment and is typically housed in protective archival-quality holders. Many collectors also choose to submit CU notes for professional grading by services such as PMG (Paper Money Guaranty) or PCGS Banknote to preserve the note and authenticate its quality for the marketplace.
Market values for a 1988 $1 STAR note in CU condition can vary widely. Notes from common districts in high-grade CU might trade in the $10–$20 range, while those from scarce districts or with exceptional print quality can easily exceed $50. If the note features a fancy or low serial number—such as a radar (e.g., 1234321*), a repeater (e.g., 12121212*), or a low number like 00000042*—the value may increase significantly. Certified examples graded CU66 or higher with EPQ (Exceptional Paper Quality) designations command even greater premiums, especially when population reports indicate few similar specimens in the market.
Collectors of small-size star notes often pursue full twelve-district sets, signature sets, or block letter series. While the 1988 series is somewhat limited in scope due to its short production period, it is particularly appealing to those who collect Reagan-era currency or focus on single-year issues. Additionally, the star notes from this series offer a more affordable entry point for collectors seeking genuinely scarce material from a modern period, particularly when compared to earlier small-size star notes from the 1920s and 1930s.
While overshadowed by the 1988A series and its Fort Worth debut, the 1988 $1 STAR note remains a quiet standout for enthusiasts who value transitional series and replacement rarity. Its issuance prior to widespread technological changes in note production and security enhancements adds to its historic charm. Notes from this period also reflect a time before major currency redesigns in the 1990s and early 2000s, making them part of the last generation of U.S. currency with entirely traditional design features and limited anti-counterfeiting measures.
In conclusion, the 1988 $1 STAR Federal Reserve Note in Crisp Uncirculated condition is a subtle yet valuable treasure in the world of U.S. currency collecting. Its limited issuance, classic design, and distinctive star serial number contribute to its popularity and longevity. Whether included in a comprehensive star note collection, held as a singular example of 1980s monetary history, or preserved as a high-grade artifact of American finance, the 1988 STAR note captures both the tradition and evolution of U.S. paper money in one compact, elegant piece.