A sample banknoteA banknote (or ‘bill’ as it is often referred to in the US) is a type of negotiable promissory note, issued by a bank or other licensed authority, payable to the bearer on demand. More with no value that is legitimate and numbered, and marked by printing ink or perforation system with the word “Specimen”. Specimens are exchanged among monetary authorities and in the past sent also to correspondent banks to share information on a new banknote or a new series.