According to the item/order hypothesis, high-frequency words are processed more efficiently and therefore order information can be readily encoded. In contrast, low-frequency words are processed less efficiently and the focus on item-specific processing compromises order information. Most experiments testing this account use free recall, which has led to two problems: First, the role of order information is difficult to evaluate in free recall, and second, the data from free recall show all three possible patterns of results: memory for high-frequency words can be better than, the same as, or worse than that for low-frequency words. A series of experiments tested the item/order hypothesis using tests where the role of order information is less ambiguous. The item/order hypothesis predicts better performance for high- than low-frequency words when pure lists are used in both immediate serial recall (ISR) and serial reconstruction of order (SRO) tests. In contrast, when mixed (alternating) lists are used, it predicts better performance for low- than for high-frequency words with ISR tests, but equivalent performance with SRO tests. The experiments generally confirm these predictions, with the notable exception of a block order effect in SRO tasks: When a block of low-frequency lists preceded a block of high-frequency lists, a high-frequency advantage was observed but when a block of high-frequency lists preceded a block of low-frequency lists, no frequency effect was observed. A final experiment provides evidence that this block order effect is due to metacognitive factors.