Starting to collect paper money

The paper money bug has bit me, not sure what type to collect at this moment, have been studying paper money forums post and threads.
All of you will probably get ired of my questions, but I have learned from the best on COIN TALK

Sandy

 

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Questions are good, and expected, and an excellent way to learn.
Good luck Sandy, and welcome to the dark side.

 

I primarily collect coins but I do have a few notes in my collection just to give it some variety. Recently, I added several Fractional Currency issues which are pretty neat to collect. Also, I still have several Confederate notes in my collection that I picked up a few years ago. Those are pretty cool too. What ever type of notes you ultimately decide to collect I would just caution that there are quite a few fakes out there so buy the book before the note or at least do some research online before buying anything.

 

I just started seriously collecting notes recently Sandy. First I bought a couple of books, researched on the internet, and absorbed everything here on CT, before I bought anything. I also decided to limit myself to New Jersey obsoletes, some Philadelphia obsoletes, and a numer of Civil War issues. So far I've kept disciplined and haven't strayed...yet. I second the motion from Steve...welcome to the dark side!

Bruce

 

I know about research LOL mpcusa can verify that
LOL

At this time using this book

26th EDITION
FULL COLOR
STANDARD CATALOG OF
UNITED STATES PAPER MONEY
EDITED BT GEORGE S. CHAJ

 

Sandy, that is a great reference book to use and I swear by it! Welcome to paper money collecting. Say goodbye to any of your extra cash.

 

Aint that the truth

Hey mark why dont you give MPC a try!

 

Then why limit yourself? I just got into paper a few years ago and have since amassed what I think is a nice and varied collection. I buy whatever I like. Could be obsoletes, federals, foreign....just whatever catches my eye. Being open to variety makes for a more interesting collection and experience, I think. Plus, its just fun.
Guy

 

RickieB

 

I have thought about it, but all the ones I see look in rough shape to me
but just like coins I need to studdyyyyyyyyyy lol
will Pm you

Sandy

 

Sandy, I feel the best thing to do is take some time, look at the varieties and see what you like before you delve into paper money. You can always change your preferences as time goes on, but if you start collecting what you love the most first, your enjoyment will last a long time.

 

Is there a grading company that grades paper money as they do coins
A paper money magazine with monthly values or prices
Any certain type of money sleeve to stay away from
Do they need to be put in a certain atmosphere
If they have a light crease or fold do not mess with them right
Confederate money has some interest to me as far as history , but I'm afraid
there is a lot of reproductions out there
I was talking to my 90 year old father who served in WW2 he thought he had some milatary money up in their bedroom, he said I was welcome to look around up there
As I said I would have questions & would be asking for advice
Almost sure about MPC , because of my dads milatary history
Sandy

 

Hey Mark,

The top two grading companies for paper are PCGS and PMG and the dealer green sheet
For values, this is the one that i use because they are the only ones with monthly Mpc
Values, i would be more then happy to send you a sample

Here,s a couple of mine that i recently picked up both are Vietnam issues Series 681
$10 in 69PPQ and Series 661 $20 in 68PPQ

Any help in getting started please dont hesitate to ask

 

I can not believe the color and detail work on those, almost like a portrait
Iwill take a rain check on the sample as you know how my schedule is right now getting things ready for August
But i do think I made a wise decesion with paper money.

I want to tell evereyone gotta watch my typing LOL

 

Sandy,

PMG and PCGS are the most respectable grading services out there. You can generally submit notes through a dealer for a nominal fee.
Greensheet is good, but Bank Note Reporter is a monthly periodical that I like a little more. It has more info on the paper money collecting hobby, thus not just a price guide.
Your Standard Catalog Guide should have MPC's, fractionals, large-size, small-size and all of their varieites in them with nice full-color pics to go along. Use that with Bank Note Reporter and you should be good to go.

 

Thank you very much

 

Is a progressive down serial # rare 61176116 ? 2003 one dollar bill

 

What is a black eagle silver certificate ? Have seen one they look awsome, was bidding but since starting out I dropped out after outbidded
Sandy

 

It's no more rare than #76590371 or any other number. Now is it *collectable*? As someone who doesn't collect serial numbers (ie, slightly cynical about the whole idea) I'll say that collecting by serial number is a matter of convincing yourself and everyone else that certain patterns are somehow more valuable than other patterns. A number like "00000001" is always going to be collectable, because the market has shown that a lot of folks would like to have that one. A "progressive down serial number" (is that a term some dealer actually used, or did you make it up?) like you show is something that I suspect will have virtually no significant collector interest, hence hard to give it much value.

Dave

 

That is a term the dealer actually used in the description