Where to get foreign currency? - Page 2

see323 · 03-23-2007, 02:56 PM

Quote:

Originally Posted by satootoko

I regularly bid up to 85% of face value for lots of current Japanese currency/coins on EBay, and I am constantly surprised when I end up buying thousands of yen for around 75-80%. The currency goes by registered mail to a sister-in-law who deposits it in the bank for us, and the coins go to Japan in our luggage when we go over there.

I don't recommend bulk purchase of that type to anyone who doesn't travel to Japan.

So far I have not had a chance to bid up to 85% of the face value. You mean you actually won the items at 85% of the face value for one lot of the auction. That's great. Most of the time, I exceed the face value many times over. Do you have a current example ?

satootoko · 03-23-2007, 03:23 PM

The last major purchase, about 18 months ago, was ¥40,000 in ¥500, ¥100 and ¥50 yen coins and another ¥20,000 in old notes that are not presently in circulation, but are redeemable at any bank. My total cost, including S/H was ~79% of face value at the exchange rate in effect at the time.

see323 · 03-23-2007, 08:52 PM

That's pretty remarkable. Coins are heavy to ship them over and included in the S/H.

Troodon · 03-24-2007, 12:58 PM

Quote:

Originally Posted by SanMiguel

i collect uncirculated currency. if you don't mind paying a small premium above the exchange rates for quality, i recommend visiting http://e-worldbanknotes.com/country.html. he has all the notes you mentioned you were looking for in crispy new condition. he only mails once a month, so orders might be slow...but you can't beat his prices when you compare him to other world currency dealers. a lot of the newer issues in my collection were purchased through his website.

Love the Belarussian note with the squirrel on it, lol... may be buying a few notes from him soon...

see323 · 03-24-2007, 10:21 PM

Quote:

Originally Posted by FlyingMoose

I'd like to get some modern foreign currency, such as some small-value euro notes (maybe 5 and 10), some of the new Australia polymer notes, some new Japanese yen, etc.

I've found some places online that will do exchanges, but they usually have high minimums and don't let you pick the bills. I don't have any place close by that does currency conversion. It would also be nice to get bills that are in decent condition.

Is there any place online that has this type of thing? eBay seems to have mostly old stuff.

One thing to note is that you should always collect brand new, uncirculated ones for modern / current issued currencies whether it is from your country or from foreign countries.

satootoko · 03-25-2007, 12:02 AM

Quote:

Originally Posted by see323

One thing to note is that you should always collect brand new, uncirculated ones for modern / current issued currencies whether it is from your country or from foreign countries.

Very true, but only for those who get the most enjoyment from collecting that way.

Others, like me, prefer F-AU coins. I know a collector who specializes in holed coins (post-mint damage holes, not integral design holes.)

The cardinal rule of true collecting - be it coins, sports cards, antiques, cloissone, chess sets, or prune pits - is collect what you enjoy collecting.

That's different from the cardinal rule of investing in collectibles - collect what you believe will quickly increase in value.

There's just no "right" or "wrong" way to collect coins, or anything else.

gatzdon · 03-26-2007, 09:37 AM

Quote:

Originally Posted by satootoko

....That's different from the cardinal rule of investing in collectibles - collect what you believe will quickly increase in value. ....

Of course that requires you to predict what a lot of other people will start to enjoy collecting. You need an increase in demand for a corresponding increase in value. Why some people feel they can predict some new hype or fad when "investing" in coins/collectibles baffles me. If one sticks to what they enjoy, they will never have buyer's remorse if the value doesn't go up (or worse, drops).

see323 · 03-26-2007, 09:58 PM

Quote:

Originally Posted by satootoko

Very true, but only for those who get the most enjoyment from collecting that way.

Others, like me, prefer F-AU coins. I know a collector who specializes in holed coins (post-mint damage holes, not integral design holes.)

The cardinal rule of true collecting - be it coins, sports cards, antiques, cloissone, chess sets, or prune pits - is collect what you enjoy collecting.

That's different from the cardinal rule of investing in collectibles - collect what you believe will quickly increase in value.

There's just no "right" or "wrong" way to collect coins, or anything else.

Specialization will help to further the joy of a collector. Whenever a new piece that fits into one's specialized collection, there is a sense of achievement and joy. Specialization will also help to further understand in-depth knowledge of your collection. You may even found some unknown varieties of coins or banknotes or information which have never been documented. This is very true for past coins and banknotes or even ancient coins and artifacts.

I will compare this to great discoveries such as going into the deep forest of Borneo or the Amazon, you spotted an unknown animal such as the recent unknown species of leopard. If you specializes and work as a Marine Biologist, you may explore the deep ocean and discover a whole world of unknown creatures. It is just a comparsion although we would have discovered most of things in coins and banknotes by now.

The benefits of specialization will be still outweigh one who do not specialize.

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