I've been collecting coins for awhile and try to contribute as frequently as possible on the coin forums. I'm familiar with "coin doctoring" and the tell-tail signs to look out for but I am unaware what too look out for when buying paper. I inherited a modest collection of US currency, JIM, Confederate bank notes, and US Military Payment Certificates. I now want to buy some to add to the preexisting collection. I experienced a steep learning curve when it came to coins and want to avoid the same thing with paper. I searched the forum and didn't find what I was looking for. I'm not a good searcher but I'm not lazy either so if the answer to my question has been previously posted just point me in the right direction. Any additional advice on how to proceed with my initial goal will be well received along with any pitfalls to avoid. Newbie asking for help. I also need to learn the difference between advise and advice. Darn that edit button doesn't allow you to edit titles. Just learned that too. Thanks. Cheers!
Good question Quality, quality, quality, especially if you have any thoughts of this collection being an investment. If you just want to "add bulk" to the collection quickly, you may regret it down the road. How do you know quality? Two ways. Option 1 is to buy slabbed notes, trusting and paying someone else to give you the info. Option 2 is to learn to grade the notes yourself. I vote for Option 2, but many folks go the other route. Learn the grading standards that are relevant for your collection (looks like US material, so the standards published by PMG and PCGS are appropriate), and look at your existing collection with a critical eye against the standard. Banknote collectors are very picky, so a "fold" or "bend" or "cut" or "pen mark" or "stain" or any other flaw are crucial to the grade, and "exist" even if you think they are small or minor at this point. A note must be held in hand, against light, smelled, flipped around, to determine grade. Ask questions here if you need help, but learn before you buy... Dave
Where I live I have very limited to no access to notes besides what I currently have. This is frustrating. I've seen a couple of books for sale and I'm going to the next show within 250 miles of my home to get some hands on experience. Visiting any retail establishments along the way. I definitely want to add quality not quantity. I want to focus on Civil War Era Confederate currency. Are there any books you recommend? Would it be wise to spend $30-$50 on a variety of lesser grade notes from eBay just to gain some hands-on experience examining the notes? Sorry for all the questions.
Unfortunately unless you want to collect something French, I'm of no help with books... I suggest you grade the notes you have, rather than spending money on some ebay stuff. I presume this inheritance is mostly raw (un-tpg-graded) notes, correct? But nothing wrong with buying a stack of low-end stuff, as long as you realize that later on you're going to want to replace it with better quality copies.
Dave M you're absolutely right what I have is all raw and there's nothing of any significant value but fortunately, or unfortunately, it's quite a variety. I have some time on my hands, a few bucks to spare and a strong desire to learn. So I think I'm going to do a little bit of all the above. Grade what I have, buy a book on Confederate notes, purchase a couple of cheap notes online and hit the next show. I appreciate your time.
http://www.amazon.com/Confederate-States-Paper-Money-Currency/dp/1440230862 I purchased this book and a confederate note last year for an uncle who collects civil war era items. Its a great start to getting familiar with values and learning all the different denominations and designs.
I would unfortunately stay away from that book as there are some major uncaught pricing errors in there. Here are the 2 main books that you need. http://www.ebay.com/itm/Red-Book-So...120?pt=LH_DefaultDomain_0&hash=item5d479ae940 http://www.ebay.com/itm/Collecting-...222?pt=LH_DefaultDomain_0&hash=item51ab2cfcd6 I understand that there will be a 2014 edition of 'Collecting Confederate Paper Paper Money' available soon.
Oddly enough I tend to look on ebay and on line when ever I find a bill or want to know about something. You can get a good Idea what things are selling for and get some good information. I know ebay isn't the best source for researching but its a nice start if you have no other place to go look. The others are correct quality quality quality. Age is not always a factor. Ive seen old bills in terrible condition never sell.
