Rags Vs. Riches: Your Opinions About Low-Grade Currency

This is an open-ended topic. Consider this rag (and look at the serial number).

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I have only tiptoed here and there when it comes to currency. There are some notes I'd love to own as the engraving on them beautiful but I don't think owning a worn out note would satisfy me.

Prime example: The 1896 Educational notes each have amazing detail but a well used note the detail is harder to see.

collect what you like and have fun

-MV

If you are buying notes as an investment, you definitely want to focus on very high grades (and get ones that are professionally graded). If you are buying as a collector, however, it's perfectly all right to focus on "lesser" notes so that you can actually accomplish your collecting goals. I am also working on a type set of sorts for U.S. currency, and I neither have the patience nor the funds to buy high grade examples of every note I collect. Despite what I tell my wife (that everything I buy is a good investment that I can always sell later if I need to), the fact is that I never plan to sell my collection and therefore must take care not to sink too much money into it.

In other words, my type collection is for my enjoyment. If a note is in such horrible condition that I can't bear to look at it, I'll consider upgrading it at some point. But other than that I am mostly concerned with buying notes that are intact and that clearly show all the defining features of that type.

Right now, btw, the only note in my collection that I really regret buying in its current condition is this one:



I didn't pay a lot for it and am really not fond of how drab and wrinkled it looks. So far, though, I haven't found a nicer example at a price I'm willing to pay.