I basically work in a not so common job that deals with a lot of currency and coins daily from the public. I Have worked in this field for over 25 years and have been collecting coins and currency for the last six years . Within the last year and I have been collecting currency, fancy notes , star notes, etc since then Here is my question /dilemma . Basically I see videos Ofpeople that go through bank straps and find star notes and fancy serial numbers and get excited when they find one or two but I literally see at least 20 a day and I'm not Joking I don't work at a bank but more with gambling establishment . Point is I pay for them as I run across them and take home but I'm seeing so many now it's like hard to keep up finically lol. I mean 15 to 20 bucks a day adds up and that does not include the fancy notes , plus the other larger denominations or the large amount I don't see from the other workers lol What would you do in my position , collect only the good star notes, or big bills or fancy notes etc etc. I'm to the point I have to make a decision so I don't put myself in a bind but can't stand to let them go lol. Just curious what you guys would do Thanks Brian
So when you say "larger denominations" do you mean $500 or $1000, or just "fancy" $50 and $100? Do you see actual larger-size notes from the early 1900s, or are you again talking about $50-100? Welcome to CoinTalk! (Edit: well, welcome to posting on CoinTalk. )
Star notes are rampant in casino banks. I once bought 66 dollars worth of 1928 2 dollar bills from a casino bank. Once I even got a well circulated 2002 ASE. Which the coin shop called fake. I don't know why anyone would fake a 2002 ASE. It was pretty dirty and circulated. Perhaps they were not used to seeing one so circulated. But it wasn't uncommon to find all sorts of fun coins and old paper money. Turned out the ASE was real. LOL
I don't really run across that many old old notes from the 20,s etc. mainly 50's and up. I actually work at a Bingo hall and deal with a lot of money from people that is theirs or stole from the old people they care for ( you have no idea what I've seen) but mainly just star notes , fancy and coins out the wazooo. I can't tell you the amount of pennies and silver coins I've got since I've been collecting .
Why not just set yourself a daily or weekly Dollar limit? Then of course ignore everything once you hit that limit.
That's a good idea. If it's getting away from you, consider buying a nicer fancy note or coin with a not-so-nice or fancy one you bought earlier.
Yea I agree but it's just so hard because if I'm at my limit by day two and then I run across a nice batch it's lost impossible to walk away lol. Don't have strong will power obviously
My recommendation is to only save those notes that will return a profit when you want/need to sell. I would only save high condition stars, preferably crisp unc. 7 digit solids and ladders if in high grade. There may some low run stars that might be worth something in XF+. These would be the things that dealers might be interested in buying If you want to mess with ebay, then there other "fancy" numbers that might make you some money. such as radars, and 6 digit solids IMO, Instead of saving the low grade stuff that isn't really rare, use that money and buy a rare and collectible note or coin. This will have a much higher probability of appreciating in value, easier to sell when the day comes and besides, you'll have a nice collectible piece of history
I'm sure the others would agree. Do you have any pics of some of the stuff you have collected? Show us some of the best stuff and then some of the average stuff you see more frequently.
Welcome to Coin Talk I agree with most of the rest. Condition is paramount on modern fancy serial number notes and star notes. Large run star notes rarely have much of a premium especially when circulated. I would only bring home the nicest examples, reference which star notes are short run notes, and take the rejects back to the bingo hall to buy more the next day/night. I also sent you a PM
If I were you, I would keep the ones in nice condition. Also, If you get the chance to I would keep all of the silver coins that I could find, and put a lot of focus on those and Wheaties.
I couldn't disagree more. 1) "The hunt" has its own charms. Some of us prefer "hunting" circulation finds; others prefer hunting for the perfect coin across stores, shows, and auctions -- but they're very different pursuits, I think. 2) The "probability of appreciating in value" is one thing; the certainty of purchasing something for exactly its face value, with no chance you'll find you overpaid, is quite another. 3) Not many people get the chance to go through large volumes of circulating coinage and currency. If you find the search rewarding, you'd be nuts not to take advantage of your opportunity.
But the OP said he's to the point where he can't save everything that's interesting. If he has to choose, then I recommend choosing the best stuff.
I agree with that. I interpreted your response as saying that he should be shopping for good coins in the usual way instead of continuing to save stuff from circulation. I guess that wasn't actually what you were saying at all. So I strongly disagree with my own misinterpretation.
Well, you were sorta right. I was saying to save the good stuff and instead of saving the stuff that will still be worth face in 20 years, use that to buy something that would make a nice addition to a collection (like a very low or solid serial number, in this case). Depending on your budget, setting aside $20-$50 bucks worth of cool "junque" that will always be worth face isn't bad (I still have a bunch of 1940's and 50's nickels that I saved in the 70's and 80's). But if you're on a limited hobby budget, and are sitting on a few hundred $$ of that stuff, just think what you could buy. Deciding what to collect really doesn't have a wrong answer.
Seems like your problem isn't a bad problem to have. As others have suggested, keep the best stuff and trade up.
