My paper money collection is a bit lacking. Besides a few silver certificates, and some 2 dollar bills, I have a tiny collection, and I'm looking to expand. However, should I stick to paper money that is graded?
Right now I plan on spending about 15 to 40 dollars per note. As far as what I can collect? Anything in that price range.
What I mean is, as of now I can only spend about 15-40 dollars. Are there other notes I would like? Sure, but most I like are $150+
I would recommend getting familiar with grading banknotes, then skipping the slabbing game. At $15-40/note, you're not talking about something that will have dramatic price swings one way or the other if you get something wrong. Also, be aware that the grading scale for US notes (the scale the TPG's use) is different from the scale used for the rest of the planet, which mostly does not use TPG's at all. So keep that in mind as you're estimating your grades (mostly relevant for AU-UNC notes). Dave
I have a very limited budget. It may take years for me to buy one banknote (the longest being over 5 years). To keep from over spending I stick to a theme, I collect banknotes with animals. This is some of my collection http://www.banknotebank.com/collection/MMMM . I have about 2000 banknotes. Dave M is right, I also would suggest about the same. 1) Be patient. Do not jump and buy a banknote on a whim. Look for a Banknote you want. 2) Do your research and know what are the available grades of the banknote and the prices they fetch for those grades. Keep a comparison spreadsheet of grade, price, and shipping cost. Look at many sources, Retail shops, Internet dealers and Auction sites compare them all. 3) Try to buy the highest grade possible. Watch out for pressed and cleaned notes. 4) It is better that you save up your 15-40 dollars over time and buy a higher grade. So if you dont like anything while browsing, save it till next time and you will have 30 to 80. 5) And remember to buy what you like.
If you're looking at collecting current paper money, you'd be better off buying stacks of $1 and searching those. At least you're only paying face for something that might be collectible. Start a fund for yourself. Get a coffee can and toss your loose change in it. Don't open it for a year. At that point, cash it in, and buy yourself a really nice note. You'll be surprised at how much it adds up.
I concur with your opinion. In that price range any slabbed notes you are paying mostly for the slab and not so much for the note - you are overpaying. Frankly there is a lot of common stuff that goes in TPG holders that really doesn't need to and wouldn't except for economy grading for larger dealer submissions.
You can pick up a variety of small error notes in Fine grade for around that price. Look for ink smears, stuck digits, minor third print shifts, and so forth. You can even get those sort of examples in graded form for $40. Heck, you may be able to snag a deal and get a higher example for that price. Also, VG to Fine grade fractionals usually fall into that range. Get a guide book, look and see what piques your interest and then go from there.
