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 Replies: 18 / Views: 5,206 |
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Valued Member
United States
333 Posts |
Ok, so after seeing an article in the paper money section of CoinWorld which described different paper currencies with scientists on it... well, I'm hooked. I haven't purchased any foreign paper yet except for a 50 Trillion Dollar note from Zimbabwe. I'd like the 100 Trillion, but the prices increased so much in the past month that I want to wait a bit to see if they come back down. I know $5-8 isn't a whole lot, but the design isn't beautiful enough for me to justify the outlay when they were in the $3 range a month ago. The $50 Trillion seems like a nice compromise for the time being. Also, buying on E-bay seems like a combination great and bad idea. However, that doesn't really solve my "problem." Every collector is different and enjoys different bills. Of course, I'd like to also someday profit from this hobby as an investment. It makes no sense for me to focus on buying near worthless currency that will continue to stay worthless, but I'd also like this to remain fun. I still need to buy a book on this, by the way. So tell me, what do you like to collect? What ideas do you have for different "sets" of currency. Buying some hyperinflation sets of Zimbabwe and Hungary sound cool. That Zoo thread is fabulous. Animals on currency are great. I could easily do that. Scientists, as already mentioned. A dictator set is also possible, as is some sort of crazy alphabetical list of all the countries in the world. Or how about currency with volcanos? Or maybe just ones with flowers? Tell me your ideas! |
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Bedrock of the Community
Australia
21786 Posts |
BBh: You are right, you need to buy a book, but what book? Go to your local library and read all references you can there. Next, go to a coin dealer, and discuss with him what book would make a good first purchase.
Next, I would see if there is a chapter of the
International Banknote Society (IBNS) in the New York area. Write to them, and in your inquiry, ask what would be the best banknote magazine to subscribe to.
Out of this you should get closer to answering the question you have asked in this thread.
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Pillar of the Community
Germany
1063 Posts |
I don't really collect banknotes deliberatly, but I keep the ones I like. The only "banknotes" I have ever paid for (i went off on a ebay buy frenzy one weekend) are German Notgeld. Some are really nice and you can get loads for not too much money. I would say though, collect what interests you. Look at banknotes and buy impulsively and then after a while see where you want to go. Let it carry you away, rather than the other way around! |
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Moderator
 Australia
16817 Posts |
Banknotes aren't a major focus for me, being more a coin person, but one area where I do actively collect banknotes is from countries that never got around to issuing their own coinage, but did issue banknotes. Republic of Texas, the Confederate States, Queensland, Netherlands New Guinea, German Southwest Africa, those sorts of places.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
Thailand
1509 Posts |
The choice is entirely up to you.
Obviously if you choose a specific subject that covers the world (flora, fauna, dictators, scientists, innovation, music related, even weapons - see other recent topics - whatever) it will be a little more difficult to build up a collection.
Personally I don't hunt down specific subjects I'm just grateful when I have the opportunity to obtain a new or old note that I don't currently have. It's taken me over 20 years to obtain my zoo collection (and the rest) but I'm not a specific 'animals on notes' collector.
Then again that's what distinguishes a specific type/subject collector from a fanatic!
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New Member
Canada
45 Posts |
We had this problem and have just come to the decision to collect whale coins. We have always loved whales and when the Canucks won the game last night it sealed the deal. I think looking for a depiction that is represented on many countries money makes for a more diverse collection. I also hope that by having a focus we will be able to pick up coins we wouldn't normally have the budget for. We also collect Canadian bills and coins and Sacagawea dollars. These are found in our change or pretty reasonabley priced. It's such a fun hobby, no matter what you collect the coins will have a great story! |
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Valued Member
 United States
333 Posts |
You guys get Sacagawea dollars up there in Canada? I live near the border here and I'll often get Canadian coinage in change, but usually nothing more than a nickel. Mostly pennies with an occasional nickel dime or quarter. In terms of paper currency, there seems like so many options. I can easily tear myself in 8 different directions at once. Where do you guys recommend for getting some nice crisp ones? I've asked my local bank about exchanging currency, but they said that they normally only get circulated notes when they come in. Do travel organizations have better luck? I'd rather not buy each note at a 50%-200% premium over their exchange rate. That seems silly to me if I can find a place to get the new stuff for much cheaper. |
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Valued Member
United States
116 Posts |
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Valued Member
United States
333 Posts |
That is another idea! I just got last year's Currency book, so now I at least have some references for things. The prices seem wildly off what I can find things for. I can usually get things for cheaper. Perhaps that is because I don't buy any of the higher priced stuff. I'm sure some of the $200+ stuff actually costs more.
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Valued Member
United States
333 Posts |
I think I've figured out what I'm going after...
Everything that looks nice and interesting!
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Valued Member
United Kingdom
55 Posts |
I collect each ccountry, I'm trying to collect one note from each country, although I doubt ill ever get them all. Also not every country makes their own currency. When I first started I just used to collect from friends to remember them by/countries I travelled to. Afterwards I did the same as you and bought the zimbabwe note(100 trillion though) And proceeded to buy some notes from my own country (Wales, England pound notes). Now I'm starting to consider collecting the first of certain currencies (Like the 1872 yen). But still am trying to get hold of some other notes for countries I dont have yet.
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Valued Member
United Arab Emirates
242 Posts |
Well, I collect notes depicting Allegorical Figures, Statues, Sculptures & Mythical Gods.
From my understanding you are considering a future investment as well.
For me, I do have the same perception (hobby + future money) ....
For instance, if you want to collect such notes with such depictions, you need to rub a bank!
Basic Rules to follow:
Rule #1, narrow down your choices to the lowest possible ones:
- Collect Allegorical Figures or Animals or PPL ...etc
- Year of issues (i.e. I only collect between 1900-1960 era)
- Countries (i.e. I collect for instance Allegorical figure notes from: US Silver Certificates, France, Greece, Hong Kong & Egypt)
Rule #2, you have to state your budget upfront (Max. you can afford). So, if any desirable note crosses your budget, NEVER try to increase your bid or buy it, & wait for another chance (that does NOT apply to notes who appear every 5-10 years in the market).
Besides, don't expect any future profit from a $50 purchased note! Look for Scarce to Rare notes.
Rule #3, select countries which are most of the times in demand. this's a good sign of potential future investment (i.e. country like Cuba, its "rare" notes command a premium, but demand is weak. Thus, do not expect potential buyers soon for your "rare" Cuban notes, unless of course, it was a bargain. Unlike for instance, US Silver Certificates)
Rule #4, Knowledge is Power (self explanatory). Besides, ALWAYS ask & never think that you've become an expert.
Some books to read:
- American History As Seen Through Currency
- GreenBack
- Beauty and the Banknote (Images of Women on Paper Money)
- A History of Banknotes & Currency
- Whitman Encyclopedia of US Paper Money
- Queen Elizabeth II (Special 80th Anniversary Edition)
- La Eote 2009-2010 catalog (Des Billets De La Banque De France Et Du Tresor) ...etc
Internet has numerous interesting articles about Banknotes.
Cheers
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Pillar of the Community
United States
2541 Posts |
My approach with international bank notes has been simple - try to get one from every country. None of mine are expensive, but with over 70 countries now and no more than $4 spent on any individual note, I have a nice collection and it didn't cost me much.
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Pillar of the Community
United Kingdom
2624 Posts |
I collect sets, types and signatures.
Britain (where I live) I pull new signatures out of circulation and new designs as they are released (and have done for 25 years now) these all cost me face value and seem to have been a good investment. I have managed to extend this collection backwards trying to get an example of every type of note with every Chief Cashiers signature going back to the 1st world war.
For the USA I started by trying to collect a large head, a small head and a colourized note. Then I tried to get every denomination with every colour of seal, then I am trying to add large notes also 1 of each type.
When I travel I try to get one of each denomination in circulation from the country I visit.
I also have a folder with odd notes that I find interesting.
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Pillar of the Community
United Kingdom
709 Posts |
@DavidUK - I am the same. I am trying to complete a full set of all UK notes with every cashier's signature. I am only now short of a few £10, £20 and £50 notes, having all the £1, £5 and 10/- notes.
I only have one white £5 and will probably never buy any more, as these notes are silly prices in any kind of decent condition.
I am also trying to collect hyperinflation notes, with large denominations.
Re Augsburger's advice to "buy impulsively", I would suggest do this only if you are rich. Otherwise after a while you will end up with lots of notes you are not interested in.
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Pillar of the Community
United Kingdom
2624 Posts |
I too only have 1 white fiver (o'brien) which I bought a while back, I was stunned to see how these are so expensive now.
I am missing a Bradbury 10/- which seems also incredibly expensive in decent condition.
My American collection there are a couple of notes I still want out of my price range, and a couple inide my range that I am trying to find good condition affordable bills.
My US notes the main thing I need is a set of Hawaii notes (all denominations) and maybe a few more earlier notes (which are expensive)
As for my other notes I add to them as I see things that I like... I am starting to be drawn towards some French notes now since I have a complete set of the last type before the Euro and they are attractive... maybe I will try and add some from previous sets.
For me collecting is an organic process, I collect relating to what I already have so starting is the hard part.
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Replies: 18 / Views: 5,206 |
Posted 06/02/2011 03:37 am
