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Replies: 11 / Views: 1,932 |
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Valued Member
United States
122 Posts |
Hello, I would like to say that I have been collecting coins and currency for only about 6 months. During this time I have learned a lot from this site, reading and buying books and magazines about coins and currency. I have been networking with coin dealers that I visit once a week and they give me pointers of what I should look for in coins and currency. I have already attended a major coin convention and will go to more. I now feel that I am ready use my currency as a down payment or trade so I can upgrade to bills I really want. However if I do go forward with this, I now feel it is an investment and I am shooting high but I know I can get all of these bills within a couple of years. I am only looking for about 4 bills that I want. I will let you know what bills I am aiming for and I will write them down at the end of this letter. my question is, if I ever sell these bills will they lose value in the future?
1) 1901 Ten Dollar Bison Note
2)1896 Two Dollar Educational Series certificate(inventors Morse and Fulton on backside)
3)1899 Five Dollar Sioux Indian on frontside
4)1896 One Dollar educational note History Instructing Youth
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Valued Member
United States
486 Posts |
This is really an impossible question to answer, there's way to many variables and the bottom line as to you losing money depends on how much you pay for them.
If I had a crystal ball that could tell me things like that I could have been rich many, many years ago.
I believe that nice currency will go up in value over the years but you may still lose money on what you bought.
Collecting currency is not at all like collecting Silver or Gold coins, if what you have in coins are not rare dates then everything will depend on the spot price of Gold and Silver. And of course you could lose a lot of money on that kind of thing, some don't think so but all you have to do I ask some of the guys that bought Gold and Silver in the 1980's and held on to it into the mid 1990's then tried to sell it.
I don't look at currency as an investment, I look at it as an enjoyable hobby, if what I collected goes up in value that's fine, if not that's ok also.
I believe that once you start looking at currency collecting as an investment it becomes less fun and more of a job. There are many other ways that are probably a sure thing as an investment other than currency collecting.
I would bet that there very, very, few currency collectors on this forum that are cashing in big time on there collection, in fact there probably not even cashing in small time. Bill Collector
Edited by The Bill Collector 06/20/2012 11:49 pm
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Valued Member
United States
223 Posts |
Though I'm a new collector too, here is my opinion.
Only sell things you don't care for anymore. The problem is that once you feel the urge to buy back the items you sold, you are not making any progress. The only exception is if its in a higher grade. Coins with PM value will fluctuate more easily, whether thats up or down, no one really knows.
I think its also okay to think of currency as an investment. But you better know what you're really doing, personally I wouldn't. You also have to realize, coins with PM content are faster to liquidate if needed compared to paper currency.
Edited by COMET 06/21/2012 12:35 am
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Moderator
 United States
56855 Posts |
All of the notes you listed are always in demand so if you are thinking of selling them in the future you should only buy them in high grades because most collectors who will be in the market for those notes are going to want them in a high grade,IMHO. Here is a thought, narrow down those four notes to two notes and get them in a higher grade then if you bought all four notes in a lower grade. John1 
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Valued Member
United States
198 Posts |
I agree with John1... these are high demand and very expensive notes.
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Valued Member
United States
198 Posts |
You might want to put together an educational set and then go after the 1899 Chief or Bison note.
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Valued Member
 United States
122 Posts |
I want to thank the 4 of you that have responded to my thread. your opinions have great points.
Bill collector I absolutely understand were you are comming from and it is great that you gave me your opinion. I havent lost the fun out of collecting nor will I forget why I'm doing it. I am having fun with my son asking me questions of what coins or currency I'm going to get or to have him hold on to a 1863 conferderate 100 Dollar note and to teach him that it came from the civil war time frame.
Comet, I have thought it through but still didnt know just yet of how far I wanted to go with the currency. I know up front that I may not re-coop all of the funds I put in so I am prepared for a lost.
John1, I never thought about that route but now I'm going to do that.
Ragpicker, my favorite is the educational series so I will get that.
Thank you very much for your important input. it does really mean a lot to me to get ideas from people that understand and care about this hobby. hope to chat with all of you in the future.
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Pillar of the Community
United States
1285 Posts |
Even on the high grade notes -- There are bigger differences in price....follow some auctions listings etc...get to know the variation in price between a RAW note / graded 64 and 67 etc as it can vary 30 to 50%.....Most importantly learn to grade a raw notes as it is a dicey game.
Fwiw, I collect errors, fancy sn's and short run star pairs...just to give you an idea. There is a BIG diff in price (I am sure the same will apply in your situation) that may get you a graded 67 for less than a raw note...been there done that.
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Valued Member
 United States
122 Posts |
Ceylon62 thanks for the advice, more than likely I am going to give a currency dealer a call and let him know what I have in mind. I have bought from him before and plus he is a very good friend of the coin shop owner I go to all the time. He has roughly 60 percent certified and 40 percent raw currency in his inventory. there is a good chance I might buy it from him because he has a nice collection. ( only if the price is right )
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Pillar of the Community
United States
2295 Posts |
Good luck and let us know how it goes. The educational series is always in high demand and they would be awesome to have in the higher grades. Like others have said, I would start off with those 2 first. You might want to get a ball park price of each note in the XF+ price range (like completed ebay sales, dealer sheets, price guides, etc) and then see what you can get, based upon how much money you have to spend. Even if it takes you 5+ years, it is something that can be done, it will just take more time to do it. Which is part of the fun too.
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Pillar of the Community
United States
7840 Posts |
LB, you are looking for some of my favorites in the U.S. Currency department. Upon your gathering of these, please...  ...especially the Educational Series! 
Edited by oih82w8 06/26/2012 3:53 pm
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New Member
United States
28 Posts |
@LB-I absolutely love currency. IMHO Celyon is completely correct. Learning to grade currency will pay off big time in the long run. It will help you not get burnt purchasing raw notes. Grading currency was not offered at the ANA's summer seminar this year but they did a 2 day seminar before the ANA in Denver in May. I live in Ohio right now and for me to fly out there and stay for the two days of the seminar and for one day of the show it totaled about $1,300. But if you are talking about purchasing high grade 'investment quality' notes it's worth it. I'm not sure if you do any vest pocket dealing but, one thing that I've noticed after learning to grade currency is that if you really learn how to grade really well there are a lot of instances where you can pick up good notes priced at lower grades than they are. Hope this helps!
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Replies: 11 / Views: 1,932 |
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