So, I'm thinking about starting a collection of paper money. If you don't already know, I collect ancient coins so the older the better. I would basically do this as an inexpensive hobby (but still would want to collect something I could sell pretty easily later just in case) and would want to collect something of cool design. What would my options be? thanks stainless
One option I have in mind which is fairly inexpensive at least from my view not having a job or anything is collecting obsolete notes particularily U.S. obsolete notes from various states and banks or you can focus on a region or what not which tends to cost a bit more but thats varying. Or you can focus on denominations and well the ways to collect go on,. Though I find the numerous designs from beautiful to simply stunning .Also considering the numerous designs whatever you may collect leaves a multiple interest for about any obsolete note which by my belief would make it that much easier to sell or find an interested buyer. An again a nice thing most go at a fairly inexpensive price.
I'm not a big fan of us paper but some foreign banknotes are stunning and lots are pretty cheap on the bay
I to am thinking of this and I tried to buy my first bill but it was already sold to someone before me so I was told. I thought I would try a $5 bill collection but I am not sure where to start? What are your thoughts?
Dang it, I knew that handle was most familiar. Check out user name RickyB. Check out threads by him. The Man is legendary when it comes to "paper". Edit: RickieB
RickyB, SteveinTampa and a few others here are tops. I personally like large size US paper. The artwork is great. Anything since 1929 is boring.
Depending on how old is "old", you might look into the French Assignats that led up to their revolution in 1796. Printed in mass quantities, they are still quite reasonable and they're a fascinating part of history. Dave
Foreign If you want older notes but don't want to shell out crazy money, I suggest you pick a foreign country that appeals to you (maybe your family background?) and see how much their notes cost from the 1900s, 1800s, etc. For example, I collect Russian notes and have a collection of banknotes from 1898 to 1991 of the notes that were issued from Imperial times to the Provisional Government to the Soviet Union to its collapse. They are fairly cheap, you'd be suprised to see that an 1899 50 Rouble note (gorgeous - my avatar is a scan of just one design on it) runs about $10-15 in a VF+ or XF-, and an 1898 1 Rouble can be found for literally $3. I've seen some spanish, caribbean, western European notes also running pretty cheap, so look into that.
I hit everything, but currently knocking out a FED set of 1976 $2, & 1929 brown seals... However, when I see a deal on anything I jump on it, weather it's a 1923 Large Silver Cert, or 1928 Small funny back. Now if I can find a deal and the money for a nice 1886 Morgan Back! Crazy Price is an under statement! I've seen sixty plus thousand dollar notes on Ebay.... It's all about condition! I can't even wrap my brain around a 5,000 dollar note much less 60,000~ I guess a good start would be (It you have some money to spare) the 1914 Federal Reserve Notes or FRN. Forget about the $50 & $100, and focus on the $5, $10, & $20 in XF or greater condition. A lot of history on those notes. Prices range from $50-$75 for the $5 and up to $200 for the $20 in XF or greater condition. Oh and yes, currency uses the same 1-70 scale, however many of us are outlaws and break down to just a few grades. Garbage, Good, Very Good, Fine, Very Fine, Extremely Fine, AU, UNC, CHOICE UNC, & GEM aka. UBER F'IN SWEET!!!
I think the problem you run into immediately is stating that you want to collect paper money as an "inexpensive" hobby. I really wish that it was, but generally it is not. You can get cheaper notes by purchasing lower condition notes, but sometimes based on what you are buying/collecting, they can be expensive as well. US paper money had the best designs before 1928. Those bills were larger than current size and had ornate designs and colors on them. The problem with those notes is that they are more expensive than current small-size notes. I would decide which you would prefer to collect before you start: old notes, or ornate notes. Also, how old? 18th century are not as ornate as 19th and early 20th century in US notes. World notes have a much greater history for being colorful and ornate in design. Basically, it's a great hobby to be in, but without narrowing down what you want to start collecting, it can be overwhelming. I also advise buying a price guide and becoming familiar with it before buying. Amazon has a great selection of used books for cheap to get you started.
Thanks for all the advice but to me this is all confusing right now. Foreign, Domestic, Large, Small, this and that and it aint cheap and I am no genius and do not have a clue as to where to start. I have been reading and I am now more mixed up. There are just so many varities to choose from. Help!!
Hey I looked/searched for this guy and he has been gone since July. Some interesting stuff but wheres the dude at? I have noticed many people here in this forum are pretty aware of bills. I really should call my GF sister and get that guys number so I can see how he started. I even checked out the commems and they are expensive to. I just do not want any exaple, I want it to be nice, shiny and crispy. I suppose these 3 things add up to more dough huh?
Rick has had some medical issues associated with him. He posted a fare well to the forum not too long ago. It's hard to realize and accept ones ultimate demise, and equally hard for folks, who know him, to accept it. Still, he leaves a legacy and a treasure trove of knowledge in what he's posted in the past.
I collect a little paper on the side. Some of the Nationals and early Federal issues are nice. But, for the most part I like obsoletes. Some can be pricey but for the most part they are inexpensive. I think it's fun finding notes from different banks in different towns all over the country. Not only are most of the banks no longer in existence, but some of the towns no longer exist either. Then, when the paper bug has it's teeth firmly in place, you can branch out to a thousand other subsets relating to obsoletes, such as railroad tickets that look like currency, old stock certificates and mining bonds....and so on. Currency collecting is a disease with no cure, so beware! Guy
I don't know if I gave you this link before, but I recently wrote an article for the new banknote collector. You might read this, maybe it'll give you some inspiration. Dave
