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In this video tutorial, the presenter discusses how to identify if a one dollar bill is rare and potentially valuable. Key factors affecting the value include the bill's condition, rarity, specific key dates, and market conditions. An example is provided of a 1985 one dollar bill that sold for $690 due to its condition and status as a star note. The presenter highlights that bills labeled as "specimen" are extremely rare, with one such note selling for $1,495. Understanding these elements can help collectors determine the worth of their one dollar bills.