A specimen banknote is printed generally in very limited quantities for distribution to central banks to aid in the recognition of banknotes from a country other than their own. In some cases, specimen banknotes are printed in less limited quantities distributed to commercial banks, or even to commercial enterprises and the public at large in order to familiarize users about new designs. In addition, specimen banknotes are sold in some countries to collectors (often in special commemorative folders or albums). They have also been distributed by banknote printers (such as the American Bank Note Company) as examples of their craftsmanship. Occasionally, specimen banknotes are distributed as gifts to dignitaries or to employees of central banks, often in special presentation albums.
To avoid use of specimen banknotes as legal tender notes, the banknotes are deformed, typically by being overprinted and/or punched (perfin) with an inscription such as "SPECIMEN", "SPECIMEN NO VALUE", "CANCELLED" or the equivalent in one or more other languages. In most cases, specimen notes have readily-identifiable serial numbers such as "99999999999" or "00000000000" or "1234567890". Many specimens have an additional "control number" that is used by a central bank to track who received a particular specimen.
Specimen banknotes vary in scarcity; in the case of the United States and many other countries, specimen banknotes remain the property of the central bank and when shared with another entity, are supposed to be kept secure and returned on demand. Such specimen banknotes may make it to collector markets without authorization. In other cases, specimen banknotes are very widely distributed, and since they have no circulating value, are worth less than circulating notes.[1]