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Question From Newb About Paper Money

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Valued Member
tershaffer's Avatar
United States
232 Posts
 Posted 12/10/2011  12:59 am Show Profile   Bookmark this topic Add tershaffer to your friends list Get a Link to this Message Number of Subscribers
Hi all
I started roll searching lately and since then started looking at paper money as well. I know nothing about paper money yet but was curious as to weather either of these would be worth holding onto. Also, I recently saw a few bills listed on e-bay as wet ink errors? Most look like actual ink smudges, but some look like mear marker marks like this $20 bill, what should I look for on these? do some ink errors/smudges have straight, even marks like this one and if so how do you tell a ink error vs. a permanent marker, or are these people just listing things they know nothing about?

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Question-From-Newb-About-Paper-Money

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Pillar of the Community
Nickelman's Avatar
United States
1397 Posts
 Posted 12/10/2011  10:24 am  Show Profile   Bookmark this reply Add Nickelman to your friends list Get a Link to this Reply
Resist buying any errors until you know more about them. They are easy to fake and people do it all the time. My advice would be read, read, read about them. Seal colors, print errors, cutting errors, etc can all be faked.
Valued Member
satxwd's Avatar
United States
321 Posts
 Posted 12/11/2011  9:44 pm  Show Profile   Bookmark this reply Add satxwd to your friends list Get a Link to this Reply
But how do you know the fakes when you see them? I've pretty much stopped collecting paper money because of this. I like Colonial currency. Talk about easy to fake. I'm sure I've bought a few over the years. But right you are about reading up on the hobby.
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Nickelman's Avatar
United States
1397 Posts
 Posted 12/12/2011  07:27 am  Show Profile   Bookmark this reply Add Nickelman to your friends list Get a Link to this Reply
There are a few things that you can do. Only buy from reputable dealers for starters as they will never sell you a bogus note. They will also be very helpful and work with you if you have a problem.

If you stick to graded notes from either PMG or PCGS you can avoid those bogus ones. Avoid graded notes from companies like CEC (yellow holder) they are bogus and just slab notes with outrageous grades on them to fool inexperienced buyers. Research is a good thing too. There are people referred to as "note doctors" that buy old slabbed notes, cut them out of their holders clean them (a no-no) and sell them to unsuspecting buyers as a high grade note. When the top TPG slab a note that has been cleaned it will no longer have the PPQ or EPQ by the grade. Those terms are used to refer to the paper quality.

Don't make large purchases early start slow and work up to more expensive purchases as you get more familiar with the tricks of the trade. If you get fooled on a note you only paid $10 for what harm did it really do? You learn a good lesson for a few bucks instead of a few hundred
Valued Member
tershaffer's Avatar
United States
232 Posts
 Posted 12/16/2011  8:07 pm  Show Profile   Bookmark this reply Add tershaffer to your friends list Get a Link to this Reply
Thanks all
So these are probably not worth holding onto? I did recently get a chance to buy a 1886 $500 bill from a guy that was trying to sell it at my bank and was only wanted the cash value for it. It looked in mint, crips condition, but my fear was it was counterfiet or stolen. He pulled it from a book that supposedly belinged to his grandfater that passed and was only worried about the $500 it was worth. the bank lady said they would not change it in and I was leary about it. What do you guys think about my desicion just in case this very rare occasion would come up again? worth the chance or just pass them on?/
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