Marotta

I am not a big paper money guy. (In fact, I do not really collect much of anything. As a writer, I have other interests in the material.) Anyone else who is into paper can provide more information.

Paper money gets less attention than coins for several reasons. Many coin collectors like the "feel" (both physical and emotional) of hard money and distrust government paper. The threat of hyperinflation, the history of Continentals and Greenbacks and Wild Cat banks, all combine to give a tangible reality to gold and silver and even copper. ("Pure Copper Preferable to Paper" says the Canadian coin.) However, the truth is that there is a powerful mystique to paper money. It built America in a way that gold and silver did not and could not.

Furthermore, in the modern world, the fact is that except for America, coins are NOT MONEY. Only paper money is the lawful promise of the central banks. Coins are a mere convenience and are not legal tender.

Then, there is the material itself. Paper and printing technologies have always been more flexible as media for artists. The vingettes on paper money are truly stunning.

The one set I did pursue is Aviation. I have about 10 or 15 notes from Indonesia, Ireland, Portugal, Lithuania, and other places around the world with airplanes and airports on them.

Birds, plants, ships, scientists,... whatever your topical interest, paper money delivers some fascinating presentations.

The security features on paper money -- from the engravings of the 1800s to the see-through holograms of today -- are also interesting.

For Americans, among the most popular ways to collect paper money is to find National Bank notes from your Home Town. East of the Mississippi the wildcat banks are collectible, as well. Some people collect notes by signature. At the national level you have famous secretaries of the treasuriy and at the local level, those national bank and wildcat notes are often signed by the people whose names are now on boulevards.

As with any collectible, how you do it is up to you. And, of course, there are standard references to guide you. In fact, because paper money is a lawful fiduciary instrument -- as opposed to being tokens or bullion -- there is often better documentation about who is on the note and why they are there, and so on.

The Society of Paper Money Collectors is old and established and has a slick bimonthly magazine. Their website is www.spmc.org

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