My paper money collection hobby started at the same time with coins collection. I was lucky to collect the stuff for these hobbies as one of my uncle was working at a ship and during their cruise around many countries, my uncle collected currency notes and coins for me.
I feel that collecting world paper money or coins increases your knowledge about the world without leaving your home exploring all the different cultures, countries, continents. You get chance to know world's famous people, learn about fauna, flora, rivers, mountains and more.
Bank note collecting is an exciting hobby which millions of collectors around the world enjoy.
The paper money collecting hobby has been very well established for decades and there are many thousands of collectors worldwide. Paper money collectors are not as common as coin collectors, but they are still very active and have extensively developed the hobby.
What kind of paper money do people collect?1) large-size US type notes
2) US national bank notes (issued by local banks chartered by the US)
3) US fractional currency (notes from the 1800s of less than 1 dollar)
4) pre-US colonial currency
5a) US obsolete notes (from private banks of the 1880s)
5b) Confederate States of America notes
6) small-size US type notes (the size we're familiar with now)
7a) recent and general world paper money
7b) older and rare world paper money
8) error notes, including printing, paper and cutting errors
9) Souvenir Cards
You can see the obvious slant toward US currency. Unfortunately, much of the really interesting US paper money is now very expensive. The very striking notes of the 1800s and early 1900s are now out of the price range of most casual collectors. Some people collect travelers' checks, and stocks and bonds, which might not be considered as paper money. Souvenir Cards are a good way to see the beauty of currency.
There is large group of people who collect world paper money. Some people focus on specific countries of interest and even specific time periods in specific countries. Often interest in paper money follows an interest in the general history as well. Some collectors focus on things ranging from notes with portaits of Queen Elizibeth to notes with pictures of boats to notes with specific serial numbers (all the same digit or very low serial numbers).
A very common type of world paper collection is to collect notes from "every country". The definition of every country can vary greatly, but this type of collection is relatively inexpensive.
One thing to keep in mind is that the quality of books on paper money is very high and they play a major role for collectors. Lots of people have dedicated their lives to researching and compiling information on paper money. It just makes sense to utilize and build on what they've already done.
What's the best way to get started collecting?
Probably the best way to start is to subscribe to Bank Note Reporter. It's a sort of monthly newspaper for paper money collectors and not only does it carry all the latest news about new issues, currency changes, etc., it also has advertising from a very large number of dealers and it lists paper money shows in the US and around the world. BNR offers free samples to anyone (not just in the USA). Subscriptions run about 30 dollars for 1 year (around 40 dollars outside the US). It's a very good
source of information. The address is...
http://www.tias.com/krause/BankNoteReporter/
The most effective way to get paper money is not through general circulation, but through dealers, collectors, auctions, and shows.
The International Bank Note Society's quarterly journal carries free advertising "of a non-commercial nature" for people wanting to update their personal collections. Bank Note Reporter also has a lot of small cheap ads for this. These are good places to look for people to trade notes.
How should I store my banknotes?
To keep them in the best possible condition you should use Mylar holders. Common household products such as plastic wrap, plastic bags, window envelopes, etc. should not be used for storing paper money. Most plastics contain PVC, which deteriorates with time and heat, releasing acids and gases which will migrate into the paper, resulting in the notes appearing to have been soaked in oil, or so brittle they shatter at a touch. Use only those products (such as Mylar and other inert plastics)
which have been tested and approved for long term paper money storage.
Notes should be stored or displayed away from direct sunlight, to avoid fading. Repairs should be made only with products that are stable. "Magic" tape and other plastic tapes will leave permanent stains on notes.
There are individual Mylar holders which look like plastic envelopes and cost about 30 cents each, usually in packs of 50 or 100. You can also keep notes in regular paper envelopes as well, although they're more liable to get damaged in handling.
source link
- Resources and links to paper money related sites from dmoz directory
- Organizations
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