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Putting together a Small Set of US Currency

 
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Valued Member

United States
288 Posts
 Posted 09/09/2018  07:51 am Show Profile   Check einstem's eBay Listings Bookmark this topic Add einstem to your friends list Get a Link to this Message
All,

I am primarily a coin collector, but am interested in putting together a small collection of some of the main examples of the US Currency as well.


There are usually a few currency dealers at shows I go to, and am looking to put together a small collection of things such as silver certificates, gold certificates, national bank notes, etc. But I really don't know much about what the options are.

Looking for some recommendations on how I can allocate about $1000 to build a nice collection of a nice variety of US Currency that I can buy over the next year or two. Would be a nice side-project while I am at the shows and can pick-up the pieces that look nice and will make a nice set, that I would probably put into a nice display folder.

Thanks!

Michael
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United States
1539 Posts
 Posted 09/09/2018  10:50 am  Show Profile   Bookmark this reply Add SteveInTampa to your friends list Get a Link to this Reply
Good to hear you're thinking of coming over to the dark side Michael.

In order to get a better idea of what you're looking for, let's put the question to you;
If I posted a similar thread on the coin side and mentioned I had 1K to jump into the coin hobby, how would you advise me ?
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United States
685 Posts
 Posted 09/09/2018  11:54 am  Show Profile   Check BadDog's eBay Listings Bookmark this reply Add BadDog to your friends list Get a Link to this Reply
How do you collect coins? Are you a type collector? a series collector? a year set collector? raw, TPG or both? modern, classic or both? uncirculated, circulated or both?

How you collect coins will most likely greatly influence how you collect currency (at least initially anyway). Chances are that
your currency collection will reflect the same preferences you have in your coin collection.

Just as with coins, you will find that $1000 can be spent on only a few items, or on many items, depending on what and how you decide to collect.

You might also want to browse through the PMG and PCGS Currency registries to see what kinds of sets others are collecting. You might find a set that you're interested in as well

One thing though, is that IMHO you should always buy something that you're happy with NOW and not buy something with the intention of upgrading it later on. Pretty much the same philosophy as with coins.
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United States
1539 Posts
 Posted 09/09/2018  12:15 pm  Show Profile   Bookmark this reply Add SteveInTampa to your friends list Get a Link to this Reply
So many choices.

I compare this to having a friend living in Europe, and ask, " I plan on attending a University in the United States, which one do you recommend ?"

Stay away from bargain problem notes, collect notes with original paper and good eye appeal, regardless of the grade. Look through books on paper money or visit this website, https://www.worldbanknotescoins.com...y-notes.html

So many choices.

Valued Member
United States
288 Posts
 Posted 09/09/2018  12:22 pm  Show Profile   Check einstem's eBay Listings Bookmark this reply Add einstem to your friends list Get a Link to this Reply
For coins, I collect both "series" of specific coins I like (mainly US Silver) as well as some one-off coins that I just like but can't afford (or don't want to) collect as series (3 cent silver, assorted Morgans, assorted small denom. US Gold).

I found this page on the Littleton site.. not saying that any of these are "good deals", but for example a nice selection of a few silver notes, gold notes, federal notes, etc:

https://www.littletoncoin.com/shop/...r-money-sets

For example, they have a $10 silver and $10 gold note set for $285. Then, I could grab a 1914 $5 and $10 Federal reserve note set for $299. And then there is a Star Note set for $99. That is about $700 and would still leave me another $300 to get a few more notes..

Not saying these littleton notes are a good deal or not, but that would be a nice assortment of 10 or so that I could probably get for about $1000 and would look really nice in a currency album.

Michael

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United States
685 Posts
 Posted 09/09/2018  1:19 pm  Show Profile   Check BadDog's eBay Listings Bookmark this reply Add BadDog to your friends list Get a Link to this Reply
Okay, from the link and examples you provided, it looks to me like you're mostly interested in type of note sets and not series, date sets, district sets, etc.

For type sets you might consider a set of denomination types (e.g., a small size $1 legal tender, silver certificate, federal reserve note set) or a denomination set of a particular type (e.g., $1, $2, $5, $100 small size legal tenders) or a series denomination set (i.e., one note of each denomination of a particular series) or even a set of 1935A $1 silver certificates (i.e., regular note, Hawaii note, North Africa note, red R note, red S note). If you're interested in large size notes, then maybe something like $5 Federal Reserve/Bank notes (1914 red, 1914 blue, 1918).

As Steve said, the there are many different ways to collect currency (just like there are with coins). Just do some research to see what you like before you jump in.
Valued Member
Canada
261 Posts
 Posted 09/09/2018  4:11 pm  Show Profile   Bookmark this reply Add walk2dwater to your friends list Get a Link to this Reply
I just thought I'd chip in my 2 cents because I wish I had asked your question & I really like the advice you were given by "SteveinTampa" & "BadDog"


Quote:
For example, they have a $10 silver and $10 gold note set for $285.

Personally, I would avoid buying notes in a set simply because most of these "deals" aren't really a deal at all (think of coins in a bag- you might find a few good ones- but condition, condition, condition! not to mention so many other factors). The problem with buying notes in lower grades is that they tend to languish in BV for quite long periods. If you change your mind (& want to liquidate) you'll be very lucky if you break even. However, if you decide to buy simply the best you can afford (higher AU to UNC) then you'll either break even or make a little down the road.

There are a few good threads here where some collectors show off their sets. I would take my time and peruse this site for info on who is collecting what.

Personally, if I had it to do over again, I'd be interested in purchasing a year set (small size first) such as the 1935 $1.00. If it were me, I would not go higher than $20 in denomination and try to get a few replacements (or notes printed from various regions in the US).

My point is stick to your goal and always try to buy the highest grade. If you're not comfortable with grading (or lack faith in the sellers online) than go with TPG notes & look for "EPQ" or "PPQ" on the UNC-60 & higher graded holders.
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 Posted 09/09/2018  5:02 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
You're best off NOT buying anything right away. First, buy one of the many quality paper money reference books. Then, go to as many coin shops or shows as you can and look at all the different series, denominations, colors, sizes and conditions. Try to determine which you like best, and only then start to purchase SLOWLY in the best oonditions you can afford. Be patient!
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United States
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 Posted 09/10/2018  1:54 pm  Show Profile   Bookmark this reply Add Kurrency Ken to your friends list Get a Link to this Reply
Do you want to collect by denomination, types within denominations, series, signatures, blocks etc? If you can get a hold of Schwartz & Lindquist's 2011 Standard Guide to Small Size Paper Money 1928 to Date, it would help you in focusing your collecting interests. Not sure why a newer edition (been 8 years) hasn't been printed...there's a great interest in small size US currency and currency, both US and World in general. I love just having a small collection of the different color (red,blue,green,black,brown.yellow) treasury seals. Makes a nice display.

KK
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United States
1081 Posts
 Posted 09/10/2018  7:03 pm  Show Profile   Bookmark this reply Add babysitr to your friends list Get a Link to this Reply
Man, wish I had been on this forum when I started!! real solid advice. enjoy the hunt..go slowly!
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 Posted 09/10/2018  11:18 pm  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
Right, great advice here. Do your research before you pull the trigger on big ticket items and have fun with it.

Valued Member
Canada
261 Posts
 Posted 09/11/2018  5:55 pm  Show Profile   Bookmark this reply Add walk2dwater to your friends list Get a Link to this Reply

Quote:
Then, go to as many coin shops or shows as you can and look at all the different series, denominations, colors, sizes and conditions. Try to determine which you like best, and only then start to purchase SLOWLY


Yes! First off be sure to talk to the dealers & fellow collectors you meet there as well (don't just be a wallflower!) You'd be surprised what you can learn by word of mouth! And taking your time with purchases is crucial if you don't want to pay top dollar/go broke down the road.


Quote:
ou can get a hold of Schwartz & Lindquist's 2011 Standard Guide to Small Size Paper Money 1928 to Date, it would help you in focusing your collecting interests.


Getting your hands on any reference books is a great start. However, don't feel compelled to purchase them- go to your local library and see what they got (try to keep your extraneous costs down) But what ever you do- store the notes in proper mylar sleeves and in a dry area!

Another thing you might try is going to your local bank and asking for a bundle of uncirculated ones. This way you can personally inspect them (at an angle in great light) and get a better feel for the various levels of uncirculated. Compare them to your circulated notes. Crumple up a few and get a better appreciation of AU, EF & VF. And who knows, if you're really, really lucky, you might just happen to get a nice special serial number (like repeater or radar). Just be sure not to crumple any notes with a serial number that jumps out at you (as potentially special)! If in doubt, check in with CCF and there'll be plenty of collectors who can guide you back on track.
Edited by walk2dwater
09/11/2018 5:58 pm
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 Posted 09/12/2018  08:01 am  Show Profile   Bookmark this reply Add scopru to your friends list Get a Link to this Reply

Quote:
putting together a small collection of some of the main examples of the US Currency



I said these same words once upon a time. I failed at maintaining a small collection. Paper currency is addicting once you get a taste of it.
Everyday is a great day. Semper Fi.
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My Wants List: http://goccf.com/t/188411
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 Posted 09/12/2018  11:24 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Boy it sure is!
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886 Posts
 Posted 09/12/2018  9:48 pm  Show Profile   Bookmark this reply Add mfhorn to your friends list Get a Link to this Reply


VERY ADDICTING!
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United States
1543 Posts
 Posted 09/15/2018  10:26 pm  Show Profile   Bookmark this reply Add Kurrency Ken to your friends list Get a Link to this Reply
Also as you get older a binder of notes is a lot lighter to carry than a binder of coins.

KK
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