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Future of currency collecting  
 

 
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New Member
United States
31 Posts
 Posted 03/18/2017  1:29 pm Show Profile   Bookmark this topic Add Tylosaurus to your friends list Get a Link to this Message
I've been thinking recently about the future of this hobby. Being a young collector, I haven't really realized much movement in the hobby in specific areas such as Nationals, gold certificates, legal tenders etc. However, I think that gold notes are on the rise as are small sized notes and foreign notes just from what I hear from others. I believe there will always be collectors as there has been for generations, along with coins. What do you guys think about the future of the hobby?

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United States
2315 Posts
 Posted 03/18/2017  2:55 pm  Show Profile   Bookmark this reply Add Debrajc to your friends list Get a Link to this Reply
Tylosaurus.

I think it is bright. I sold my paper money collection back in 2000 and my son who is now 29 still talks about how beautiful the paper money use to be. If he had more disposable income I know he would easily get in to collecting older large size notes.
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United States
484 Posts
 Posted 03/18/2017  5:00 pm  Show Profile   Bookmark this reply Add yakimaboy to your friends list Get a Link to this Reply
Tylosaurus a good question. Currency collecting has been one of my main interests since the 80's off and on. Back then I collected cheap foreign stuff because for me, at that time, US was mostly too expensive. Times change and I now have quite a few notes, both cheap and somewhat less cheap. I started grabbing Canadian a couple of months ago, but after a conversation with a local coin dealer I have switched back to US and also pacific nw depression scrip. Surprisingly, those appear to be real popular, as I keep getting outbid for them. Just from what I see on this forum, coin collecting is far more popular than currency. Other than this forum, I have never met or run into a currency collector. Perhaps, like me, most folks don't advertise it.

I have a spreadsheet that I keep track of all coin, stamp, bb card, and currency purchases. Looking back at my first currency purchases I see that I can get the same today at around the same prices, so no price appreciation in the last 10 years for common stuff. For really choice notes that are in demand, I think the market is quite good and will remain so. Nationals though do not seem to be as popular as they were a few years ago. One of the things that old geezers like me think about is what happens to my collections after I am gone? That is a subject for another discussion.
YB
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United States
12050 Posts
 Posted 03/18/2017  5:13 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Agree with your thoughts. There is always a steady market for top grade notes or issues that are scarce or rare for different reasons. The trend is usually up, with the usual spikes and dips. As in the coin market, the internet has been a splash of cold water on PM over the last 15 years and opened everyone's eyes to how much relatively common stuff there really is out there.

If you have good stuff, be sure your family knows which reliable dealers or auctioneers to contact. If you just collect for fun, then what you have probably isn't worth a great deal and just be sure they have the name of your LCS.
"It's amazing the things people would rather have than money."

New Member
United States
31 Posts
 Posted 03/18/2017  5:23 pm  Show Profile   Bookmark this reply Add Tylosaurus to your friends list Get a Link to this Reply
Since I'm 16, I won't have to worry about my collection once I pass away for awhile (hopefully). I estimate what I have at around $3500 at the moment and it will surely grow as I age so I would probably need my family to auction off what I have when I die as an old man. Coming back towards the topic, I feel something needs to be said about currency collectors my age or the lack thereof. I just hope that more people catch on so the hobby can thrive.
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Australia
12390 Posts
 Posted 03/18/2017  5:39 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Tylosaurus: Are you a member of the I.B.N.S.?
Is there chapter of this organization in your state?
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United States
484 Posts
 Posted 03/18/2017  5:39 pm  Show Profile   Bookmark this reply Add yakimaboy to your friends list Get a Link to this Reply
Tylosaurus, it is nice to see someone who doesn't remember buying gas for ¢.35 a gallon, who is into currency collecting. Keep posting and show us some more notes!
YB
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United States
12050 Posts
 Posted 03/18/2017  6:01 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
For sure. Been a PM nut for a long time and always happy to help.
"It's amazing the things people would rather have than money."

Pillar of the Community
United States
1954 Posts
 Posted 03/19/2017  12:52 am  Show Profile   Bookmark this reply Add WheatBack to your friends list Get a Link to this Reply
I'm on the younger side of the age spectrum, at 23, when it comes to currency. I've amassed a substantial collection of Virginia national notes as well most large size "type notes" that are readily available. Still missing the 1890 $2 - $10 ornate backs, as well as a few high denomination large size gold certificates. I don't see nearly as many young people getting into currency as I do with coins, unfortunately. It's another great branch of coin collecting and they go hand in hand. I just wish more people could dabble in the currency side of things.

I also believe currency to be incredibly undervalued compared to the rarity of some of the notes out there. How often can you buy a coin with a population of 10 at $200 like you can with a national note? These are true rarities grossly undervalued!

As for prices, nationals seem to be down from where they were several years ago, but large size is doing really well, as well as gold certificates -- They both have been a lot of bidding interest on eBay, Heritage etc.
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United States
674 Posts
 Posted 03/19/2017  12:20 pm  Show Profile   Bookmark this reply Add SteveInTampa to your friends list Get a Link to this Reply
If you gauge or measure the health of numismatics by ANA membership then you might think it's on the decline. ANA membership has declined from its high point, back in the 60's , to half...about 25 thousand members. But not all collectors join the ANA. I joined 10 years ago just to realize that the ANA is 95% shiny metal discs and 5% paper money. I soon switched to the SPMC and haven't looked back.

The dawn of the internet and TPG's has been a game changer. Many local coin stores have closed because collectors can view and purchase coins and paper money from the comfort of their home, and see a much greater assortment of collectibles. In 1999 the US Mint introduced State Quarters, and the floodgates opened to untold numbers of new collectors that you may never see at major coin shows or hear from on forums like this.

The prices for common coins and paper money flucuate with the health of our economy, but the better and more rare items seem to steadily rise. The advent of registry sets has some normally inexpensive paper money rise , especially in GEM and above grades.

If I could start all over, I may not own any small sized notes at all except maybe some WWII and small sized Nationals. My advise for any new collector is to research what interests you and buy the best example you can afford. I believe the paper money collecting hobby is fine.
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United States
12050 Posts
 Posted 03/20/2017  5:58 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Agree, we're in good shape. The appeal of collecting large size notes is quite different (to me) than the appeal of small size notes. The beautiful engraving on our old large notes just slams the door on the smaller ones. On the other hand, I think it's still the "wild west" with small notes, often collected by block numbers, S/N permutations and myriad error categories that aren't really a part of the large size market. The small note market is also an ideal hunting ground for collectors with less to spend.

I always think of NBNs as a separate category, with supply/demand factors essentially the same for both large and small notes, save for large size type collecting. There will always be a fascination and local flavor to hunting down the currency of independent banks, and many collectors, in my experience, aren't really in it for the money. Different ballgame, different fans.



"It's amazing the things people would rather have than money."

Edited by Coinfrog
03/20/2017 6:01 pm
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