2023 collector's corner
READ my weekly entries for 2023 below:
2023 observations:
December 30th 2023: Today will be the last entry for 2023. At this time of year we see a lot of news which wrap up major events (deaths, technological innovations, etc) about the past year. There will be speculation about the economy for 2024. Will the government's policies cause a recession? Will inflation & grocery prices stop rising? These are some of the speculations we will see in the press & media. Why are they important questions to the collector? I believe they are important because the factors themselves can influence collector spending. If inflation (or a recession) impact the hobby in a negative way (causing less people to buy more to sell) than that can flatten (or even decrease) LCS prices. It can slow down auction house offerings & lower hammer prices. It can slow down auction house offerings & lower hammer prices. But it can also mean opportunity. As collectors, we just have to try to step back from it all, stick to our goals & follow our budgets.
December 23rd 2023: Just a big shout out to all those great collectors who have been placing orders & buying my doubles today! Thanks again & you really rock! I also noticed that many of you know your prices and you know I don't embellish (its nice that I can be trusted ; - ). Anyway, if I haven't got back to you after you've made a request, then please have patience as I will get to your order & right at the moment things are a little on the busy side. I have searched on eBay a few times for some notes I'd like to purchase (from Jamaica) & I was shocked to see how much most items have gone up in price. If you are in doubt, please go take a look & then look at what I have to offer. You'll see quickly that my prices can't be beat. In case you are just dropping by for the first time and have missed my links to my duplicates, here are the links:
December 16th 2023: With 2023 winding down, I have to prepare myself for another year of revising this site (archiving these RECENT OBSERVATIONS amongst other things). Keeping the site current takes a bit of my time but I have enjoyed the process & it has become part of the hobby for me.
One of my other favourite pastimes is to peruse the forums and enjoy reading (or following) some of the regular threads. On the rare occasion, I start a new threads myself. One thread I have really enjoyed contributing to is this thread on posting our recent WORLD NOTE purchases hosted by the Paper Money Forum. I enjoy learning about other people's adventures with the hobby & their travels (as recently posted by Dan or @Philpaper). I also enjoyed adding a few pictures of my travels on a thread which covers this topic. If you enjoy collecting World banknotes, then you might want to post/contribute to one of these threads too. You may also wish to start a thread of your own interest (a theme you've been working on, a banknote type (replacement, special number, test notes) or some other topic which interests you. It is always heartening to get feedback from fellow collectors who share a similar passion. I always find forums a rich place to learn how others collect plus there are many other topics featured on many forums which can be fascinating, funny or just relaxing to follow too.
12-09-23 As the end of the year approaches, you may be thinking about your collector goals, how you have progressed over the past year. (If its been a while since you have thought of where you are headed as a collector then perhaps now is a time to redefine them). You also may be thinking about fine-tuning these goals. If you haven't given much thought to what you collect (& why) maybe you should start. Some questions you might want to ask yourself: should I expand or consolidate on some of my sets? Do I need all denominations or can I exclude 1 or 2? Perhaps there are duplicates you can sell? Do I need to get more organized (do another inventory)? Are there other steps which I need to complete to improve my collection (buy more currency sleeves, another album, etc)? I always think it is a great idea to start thinking about my goals near the end of the year (before the new year 2024). I tend to think both in terms of my sets and in terms of my overall collection. I do not collect all Bank of Canada's (BoC) denominations ($50, $100 & $1000 notes are excluded). I sometimes think I might buy a $50 again but so far have resisted the temptation. I also have rarely bought BoC & tend to work more on my World sets. I do know I need to consolidate & sell off some notes. I would like to do that in the next 2 years (perhaps my time frames are too flexible). Try to be disciplined when shaping your goals (I know I need to be more firm with my timelines!)
12-02-23 If you are like me & enjoy this hobby but don't want to be spending a fortune (don't wish to buy everything you like as you have a mortgage/other expenses to deal with) then you likely find yourself lurking/participating online in the various forums I've suggested over the past 4 years. If you collect coins (unlike me) than you may find there are even more options online. Here is a thread on Numista which discusses collectors' opinions on Colnect, Numista & UCoin. You may not be very interested in other people's experiences but I usually am. I signed up to use Colnect but only had contact with a few who were "window shopping." For me, this is the many collectors on both Numista & Colnect who have nothing but cheap dealer stock & wishing to swap their junk for your collectible (tougher) notes. Early on I contributed to Colnect a few articles on collecting & later discovered my attribution was replaced with an administrator's identification. Soon after that, Colnect's administration contacted me asking me for a copy of my passport (to verify my ID). I quit the platform (rather than compromise my privacy) because I lost trust & had other suspicions regarding the site. My point is, always be wary of any platform & forum. Err on the side of caution but continue to collect. Don't let the forums spoil your learning journey to become a serious collector!
11-25-23 An American friend of mine, who goes by "hfjacinto" (on PMF & other forums) poses a very good question about down time between purchases on this thread. If you take the link, you will see he addresses this to 'advanced collectors' but I feel the same advice could go for all types of collectors (including the dabblers). If you're not making purchases, why not research, surf the forums, create PDF back pages (which detail your notes), inventory, sell doubles, create a website, update your info that you have compiled, etc? There are many excellent suggestions on this thread (all of which I try to practice). The bottom line is you cannot keep buying so you must find something else to do (or otherwise forget about your collection). Forgetting (or taking a break) isn't all that bad an idea either. Sometimes when we take a short break we feel refreshed once we return. Sometimes we miss out (or discover that prices have spiked), etc but overall it usually is not a complete disaster to put the collection on pause. I find myself fine-tuning or adjusting my collector goals which often leads me to cull certain parts of my collection (& get certain notes separated, scanned & ready to sell). It is one of the reasons I turned to BCS to certify more of my tough (just so they would be easier to sell & their condition will be less debatable). There are times to buy & times to "shut it down" or take stock in what you have.
11-18-2023 One of the most common questions I see on forums (& social media) is whether to get ones' banknotes graded. Here's a post from Numista with a similar query. Many people assume that a certified banknote will make it more valuable. This, I believe, is an unfounded myth, similar to the assumption that all consecutive runs are typically uncirculated. (I have seen many consecutive runs with wallet folds & worse damage). There is a real danger to making gross generalization when collecting. A certified note might be more liquid (depending on the grade/what is discovered) but it usually doesn't make the note more valuable. If you certify an uncommon note which has high demand then you better hope that it was not handled much. If sell your GEM note then you better hope the market is hot. That's a lot of IFs! (I'm keeping today's entry short as I'm having network issues!)
11-11-2023 Today's Remembrance Day in Canada & I hope each Canadian takes a little time out to pay their respects at 11:00am.
One of the best things about this hobby is the people you "sort of" meet. I write "sort of" because it has all been online and not physically in person (though I know I would be happy to meet them at a show someday!) Some of these interesting collectors keep in touch (like "hfjacinto" & "Ca$h"). Most recently a collector from Hillsboro, Oregon, who I will dub "bro" has kept a steady stream of communication with me. He has shared his collector goals (to attain each signature variety + one change over or short prefix). This is a very achievable goal! He has also showed me some of this PDF's and his growing collection. "Bro" has also been asking some great questions like particulars about some the Bank of Canada's Journey denominations, banknote sleeves, grading and online resources. He's created some impressive PDF files which remind me of those old Whitman coin folders. It has been a real pleasure to put a package of notes together for him & I hope to hear from him again soon.
11-04-2023 Recently on the Paper Money Forum (PMF), a collector who goes by Delistamps started a thread called Definitions 101: whats a RADAR? He does this because another collector keeps posting regular numbers he thinks are radars. Delistamps further describes the difference between a "TRUE" radar with 2 identical block letters and "solid core" radars (with similar interior digits). He also described a "super radar" but in Canada super radars are only found on our 11 digit 1979 series ($5 & $20). I am not a big fan of adding such adjectives (true, super, etc) but I do like the fact that he tries to straighten out what the terms mean to him. It also provokes further discussion on the concept of a palindrome (numbers which look the same right or left). For me, once we collectors start adding too many bulky superlatives it will become too demanding for the average hobbyist to keep it all straight. When collecting banknotes (or coins), I feel it is important to think K.I.S.S. (Keep It Short Simple) for the global collecting community- not just the trends which apply to one's own nation's banknotes. Americans call radars, repeaters, & ladder serial numbers "FANCY" while Canadians (& most world paper money specialists I know) call them (+ solid radars, million & low numbers) "SPECIAL" since they truly look unique. There are tables & descriptions at the back of our catalogue with SPECIAL serial numbers & ERRORS. There's no wiggle room for others. "Fancy" IMO has always been reserved for eBay sellers who label just about anything fancy (birthday notes, 3 of a kind, etc). We call our banknotes various levels of uncirculated while Australians may call their notes "flat uncirculated." For me, its the old saying that you say "toe-mah-toe" while I say "too-mae-toe." BUT, it will be the collector society at large who determines which terms are adopted, used & part of the lexicon. Daily usage of each term will determine the word's definition (not the other way around). I'm pretty sure even the authors of WEBSTER'S dictionary will agree with that. So the bottom line is, be careful what you call a special serial number! Also be careful who you wish to sway! Re-read my post on October 21st (from REDDIT re: the Russian 1000 Rubles). How influenced will you be by adding superlatives to the terms solid or radar? Sure a "solid is a radar" but are you willing to pay a premium for the # 58888885 ? Make sure you draw some lines in the sand at what you are willing to pay!
10-28 -2023: I have been having a lot of fun getting to know many collectors through my communication with those interested in my Duplicate Note sales. One I met through Coinsandcanada, who I shall dub "Ca$h" for his extensive collection of notes/coins. He bought a lovely Devils Face $5 & has been very entertaining, providing me with little glimpses into his past (starting out in the hobby). He even shared some photos of bears roaming his property which is located somewhere on Lake Winnipeg. His eloquent musings made me realize how challenging & invigorating life must be in the bush. He also gave me some great ideas to improve this site. Thanks "Ca$h" & I hope we continue to communicate! I also have other collectors who have reached out to say they enjoyed my weekly posts, who have asked for my opinions & who have shared a bit of their collector backgrounds. I'm always interested in hearing folks stories (what they collect, what they do (or did) for a living, their next collector goals, family drama, etc). It's all really like "music to my ears" as this site is in its 5th year & sometimes I wonder whether anyone drops by! Initially, I never intended to sell some of my duplicates but then the idea grew on me (why not & why not save collectors money?) I also have a few WORLD DUPLICATES listed in case you're interested.
10-21-2023 Sometimes I go through Reddit & other Social Media banknote collector sites to see what's up on that front. Recently, I saw this post on the 2023 Russian 1000 Rubles. Apparently, there is some controversy over the religious buildings (Muslim & Christian symbols) depicted on the design of this note. Most think its ridiculous but it has the government's attention (& they have held its further release). After reading others reactions, I wondered whether these 1000 Ruble notes might be worth more to collectors. I was a bit surprised that this Reddit thread sucked me in! Later, I read another Reddit about a crumpled Canadian $5.00 with the serial number 1000010. Yes, it is a binary number but the condition was too worn too warrant a premium. And remember, condition is critical: it is often compared to "location for real estate deals" (paramount to what collectors will pay). I was downvoted for expressing this opinion! So this made me think, how much are we collectors being influenced by social media? Do we collect based on other peoples' opinions or solely on our own? How influenced are we by the forums we participate in? Do we think something is valuable if others think its "cool," upvote us, give us LIKES or get comments like we "should be graded?" I sometimes wonder if I'm going down a tangental path or whether I'm keeping true to my original collector's goals? Do you ever wonder if you have been influenced by others (& if so, how much)?
10-14-2023 I am still open to sales but my original threads (which announce my sales) continue to get buried under more recent posts. Fewer collectors know! Don't delay, contact me today! The time to decide which notes you should acquire must happen long before the Christmas rush.
I bought some notes from a Spanish seller on eBay and they've been 7 weeks (& counting) in transit. They're either on their way or have been stolen. I'm hoping that they're still in transit (on their way) but this seems unusually long. It is reminding me of the pandemic transit times & our long running joke with my collector friend "Hfjacinto!" He has experienced similar dramatic transit times from Portugal & other European nations. I won't be buying anything from Spain again!
10-07-2023 I have sold 20 notes so far & hope to sell more of my duplicates in the coming weeks. Thanks again to all those who have responded. Over the past decade (& 4 years of Notaphilyc Culture's existence) collectors have asked me (time & again) when is it a good time to buy. Many collectors tend to buy when they see something they "like" or feel they have the money to blow. My suggestion? Buy when the market has cooled down. These past few months are an ideal time to buy b/c dealers wish to move stock. "Timing" your purchase wisely can save you money! During the pandemic people were locked in their homes going stir crazy. They turned to their hobbies. People bought notes en masse & demand rose. I bought a few items but most of my purchases occurred before the pandemic when prices were less (& that is one of the reasons I can sell now). When people were in lockdown (with nothing but their hobbies) this heated the market up. However, today, collectors have put away their binders & have gotten busy with their commutes to & from work (once again). Local Coin Shops (LCS) have stocked up their cabinets but customers aren't coming in like they once did. I'm not a dealer with a loaded cabinet & can sell you my duplicate notes for LESS than most eBay sellers (& lower postage). I'm just a collector, like you, hoping to trim down my doubles & cover my expenses.
Remember to check out my CCF THREAD which follows my journey assembling my Bank of Canada collection. The last day has arrived!
09/30/23 I just shipped out 2 orders & truly hope there will be more! If you are still hesitant, why not reach out & ask about a note you may be interested in? These are orders from my Bank of Canada Duplicates list and my updated WORLD Duplicates list. A few US collectors comment on PMF regarding their satisfaction. Thanks to those who have reached out thus far.
09/23/23 This week I have returned to work and struggled to keep up with this site. I have been working on updating/revising my Bank of Canada Duplicates list. Please take a look and notify me if you see a mistake. It has been a much bigger project than I anticipated. I also have been updating my WORLD Duplicates list. I have to thank Kyle from the PMF for motivating me to get caught up with this!
09/16/23 Last week, after I entered my comments here, a member from CCF started a thread on ZERO EUROS BANKNOTES. I refused to comment because I feel that the topic of "buying souvenir printed paper" (much like a postcard) should never appear on a coin/currency thread. The idea that there are people who sell these is offensive to me. They're simply a waste of money & the prices that some of these sellers ask is nothing short of bizarre. I also had no idea that they made pretend coins either. I feel that these fantasy products hurt the hobby. I believe that there are many greedy sellers who sell unsavoury products which hurt the hobby. On another Collector's Universe thread (about more collector participation), I commented about how the introduction of gimmicks ultimately hurt the new collector.
09/09/23 I hope you have taken a peak at my "Overlooked World Notes" thread & would love to see some contributions/insights from other collectors. It is going slow but at least I've managed to add one (or more) note(s) per week. World currency collecting came late to me so I am always learning & welcome new opinions.
09/02/23 The Paper Money Forum (PMF) is a great site/virtual place to hang out & learn about banknotes & the hobby. I would like to point out that this site has excellent participation & usually members are experienced veterans who bring a lot to the table: wise feedback, rare/tough notes posted, insightful opinions, meaningful threads, etc. The site costs money to run so I would be very pleased if you have some currency books to donate. Please contact the member who goes by "lettow," & provide an image, price and make the necessary arrangements if you can. To see what books will be offered check this "Booksale to Bennefit the Forum" thread. While you're browsing the PMF, please take a peak at "Overlooked World Notes" thread & contribute if you can. If you are currently a PMF member then why not participate in this September's Contest: The Matching Game? The contests are always fun, educational & you just may win a prize! Don't laugh! I have won 2 prizes & yet only have entered a half dozen (I don't always enter b/c I don't always have notes that qualify). Give it a shot & enjoy the hobby without actually buying something!
08/26/23 A collector who goes by "aster" has posted a very tough Dr Ko Gwan See signature note & we both have been discussing the hunt for tough notes on this CCF NOTES with SHIPS thread. Once you read the comments posted on this thread about waiting or buying (often expressed as "pulling the trigger") you'll get a better idea why the whole discussion is often referred to as the "hunt for a certain note." I think the hunting metaphor works on many levels and encourage patience but also decisive action, budgeting & knowing your collector's goals convincingly enough so you won't have buyer's remorse. Remeber also that "staying active" is critical to assembling a decent set of banknotes. Please take a look at the link below (if you haven't already done so) or return to see what I've added as I have a long way to go before I show my personal collection.
08/19/23 Two weeks ago I created a thread on "Walktothewater's Bank of Canada Collection." Please take a look. Today I added some of my 1954 Devil's Face (DF) series & next week I will add some of my Modified 1954 collection. The radars, replacements & errors of the Modified series are far more scarce than the average DF note but typically a bargain in price (IMO).
I have also revised & lowered all my prices on my WORLD & CANADIAN duplicates list. I'm still working on both lists but they should be completed soon. Now would be a good time to contact me if you are in search of something (I may not have it but just drop a line to let me know). Sometimes I am able to point collectors in the right direction. Happy collecting!
08/12/23 On Numista, there are threads about AUCTION SITES and other threads about LARGE BANKNOTE CURRENCY Sleeves/Storage. First, I would like to encourage banknote collectors to reach out to other collectors (to network) in whatever ways they can. Try striking up a friendship of sorts & share your insights re: our common interests (be it coins/paper/etc, just don't make your "reaching out/contact" all about getting something!) I have swapped a good deal of great Canadian banknotes this way. I even received some great 1st generation 2002 Euros by swapping too. My collector friend "hfjacinto" has picked up some stunning Large sized US notes from another collector at prices he could not refuse. (He would be paying 10% more at his LCS* & he knows his prices!) So often collectors get focussed on acquiring notes from their LCS (or auction houses) & if you do, be sure to be going after notes you won't see at your LCS! Remember the buyer's premium, import duties, S&H will be the most expensive you have ever paid! Don't go for easy notes this way! And also remember, that if you're going to visit a LCS that's the best time to pick up some museum quality currency supplies! Their supplies are very competitively priced but you won't need to pay expensive shipping since you got yourself to the store & you can cart off a few sleeves, pages, binders, etc. *LCS- Local Coin Shop or any coin shop for that matter.
08/05/23 Many Canadian collectors migrated to other forums after the Candian Paper Money Forum (CPMF) now called Canadian Paper Money shut down in 2018. I started posting some notes from my personal Bank of Canada collection. Just recently, I thought it may be a good idea to consolidate those posts & create a thread on "Walktothewater's Bank of Canada Collection." Many of the notes I have posted here but I thought I would share them once again as they're easy to repost on the Coin Community Family (CCF) site. Please check out my MONEY MARKET page for my summary of the collector's market for the month of July.
07/29/23 If you are going to specialize (as described below) be sure that you really know your stuff. Why? Because the farther you go back, the more expensive the notes & this presents more of an opportunity to counterfeiters (to gain from the ignorance of others). Many colonial banknotes are lacking the security features we've come to know our banknotes possess so these notes become targeted (as do defunct TPG with no registry to check). Here is a PMF thread about fake colonial banknotes in fake PCGS holders that are being listed (& sold) on eBay right now. I also did a search for Devil's Face notes and discovered several circulated Modified with the wrong signatures (Beattie-Rasminsky) being sold for thousands! Bottom line: know your stuff!
On a similar note, I read about a collector looking for a dealer to replace his former dealer. I think this is great (every collector can benefit from a dealer they can trust) but remember to keep up on your own personal research (don't become overly dependent). Remember that the hunt & shaping your own collector goals is part of the fun!
07/22/23 Over time, some collectors become more specific in particular areas of the hobby and only collect one theme or era (time frame). A collector from "Coin Talk" only collects Confederate Notes & came to the realization that mostly "Net" (restored) notes are better (for him) than low-grade VG & Fine notes on this thread. I think he has a good case in dismissing "original" (or "Q" as in EPQ designated notes) for restored notes since original/circulated examples have been unappealing. He wrote about a "Q" on a VG note but I've only seen "Q" on PCGS Fine since perusing this thread on Paper Money Forum. (This could also be the case for collectors of Obsolete or National banks). Only American Third Party Graders award "Q" to a Fine banknote but BCS will only grant "Original" to a crisp Very Fine 30 & above (& these look EF by PMG's standards). I fail to see how a "Q" can be designated on a Fine note (when fibres have been broken &/or note has been soiled to the level of Fine). For me, a banknote has changed once it has been soiled, or creased, & design wear has become evident. If it merits a Fine grade then it should no longer be considered "Original." Once a note falls below the VF20 grade level, it should no longer be awarded EPQ status (I agree with BCS on his position). I also don't see how notes with autographs, staple holes or other impediments (which change the original paper quality) can qualify as EPQ. Call me conservative in that regard but that is always how I will see the EPQ/Original grade issue.
When a collector becomes a "specialist" such as the Confederate collector on Coin Talk the hobby can be that much more rewarding. Another type of specialist could be theme based such as a collector of "UNESCO Natural World Heritage sites." A collector who goes by "CurrencyDen1" has a long running thread on the PMF about nations which feature such sites. Check out the notes he has covered since June 2021 here.
07/15/23 On the 8th of April, I posted "I always encourage new collectors to be extra vigilant when starting out in this hobby. Why? Because there are many unscrupulous eBay sellers who prey on collectors lack of knowledge. The most common tactic is to over-grade a note by stating "Note looks Very Fine" (or VF) when it is clearly a washed Fine grade (at best)." On Coin Community Forum, a new member named "aster" asks what to do with notes which smell of bleach (or look cleaned) in the WORLD PAPER MONEY & CURRENCY SECTION. My answer is to separate the notes & sell them as a lot with full disclosure "Notes have been washed cleaned," (title). I know this won't fair well for the seller but the reality is it is your problem and you should really try to be as upfront about "damaged goods" as possible (or just keep them). I applaud "aster" for posing this question because it happens far more often than it should. People washed (pressed) and processed their notes a lot back in the day. This, once again, is another reason I try to encourage new collectors to focus only on UNC (uncirculated) or higher grade (Q) banknotes! Doing this eliminates chances of buying washed notes!
07/08/23 If you think collecting World banknotes is easy than think again! For one, a collector must decide which nation (or nations) one must focus on. Also, he/she would need to set serious limits (which denominations/series) since going back in time can be costly. Third, the collector must consider whether to buy regular issues, replacements, fancy serial numbers, errors, etc. Often, most collectors only focus on their preferred nation & denomination. Many collectors specialize in lower to mid denominations (like 2 to 10 Pound notes). And when he/she starts shopping he/she must decide on whether to buy certified (often referred to as TPG notes or Third Party Graded notes) versus uncertified (sometimes referred to as "raw" notes). There are advantages to both: certified usually guarantees that the note is a certain grade & will sell quickly down the road while uncertified usually comes much cheaper. I just want to point out that sometimes certified notes are only fractionly priced higher than uncertified notes (especially if you buy a number of notes & keep shipping price down to a minimum). I have recently purchased P-171 100 Pesos from the Dominican Republic. This note isn't that rare or uncommon but it happens to be a low serial # and from 2001 (the least common "a" version). I like to buy notes of countries I visit & the DR qualifies as such. I initially was about to purchase the DR P-167 100 Pesos printed by the BNABC (British North American Banknote Co) but I hesitated & it was snapped up before I decided to "pull the trigger" & missed out. So P-171a (low #) was a consolation note of sorts (I have not seen the P-167 since). My point is, I paid about the same for a PMG UNC 66 P-171a as I would have paid for the much more common P-171c ungraded. Also, P-171c to P-171d make up 93% of all P-171's while the first 2001 year only makes up 7% of the notes! How, you ask? Just by being aware that there are some sellers (especially from Asian countries) who have bought notes in UNC (at FV), submitted them to PMG by bulk (for very little) & then manage to sell for a small profit. You have to be observant (do the research) & take note which sellers can manage to list TPG notes so competitively priced!
07/01/23 Many young, new collectors seek new polymer banknotes in UNC (Uncirculated new like the day they were printed) or in circulated (folded/worn) condition. I have cautioned collectors against seeking circulated polymer notes for over ten years (since Canada started to produce them in 2011). The main reason is that most of today's banknotes are released in the tens of millions & TPG are merciless in finding flaws (& scratches) within the polymer. Since they're newly released series they should be PERFECT or UNC. However, if the note is an error, a scarce special serial number (solid, ladder, etc) or a scarce prefix (such as the $10 Macklem Carney FTH or $20 BSW).* it could be worth setting aside no matter the condition. Use your discretion, but don't be afraid to consult the opinions of others. Source the many online forums that are now available (post your note with clear reasons why you think your note should be kept in circulated condition). Most collectors will give you an honest opinion! Just be sure to register (join) so you can participate. You may not like all the opinions you get but you can be sure that these opinions are what will be on most collectors' minds. *[See the 2 images above: less than 20 of each prefix reported on the Canadian Forum SNDB]
06/24/23 If you have been dropping in weekly to view this "Collector's Corner" page, then I want to thank you! It is very encouraging to see a few "shout outs" on the PMF (from members like PetCin88, hfjacinto & kdmchugh to name a few).
I want to address today's entry to those who specialize in certain countries. In this post from Numista thread on "India 100 Rupees" I checked out these P-41notes (with ENGLISH text & 2 serial numbers on the bottom) & was surprised to see sellers mix it up with P-42 or P-43. It is understandable to confuse P-42 with P-43 as these versions are similar but P-41 is quite a different species (black serials on 2 bottom panels). P-42/43 have kitty-corner serial numbers (bottom left & top right corners) with the P-43b & c having the "Iengar" signature (rather than "Rama Rau"). Be sure you know which note is the best for you. P-42 100 Rupees, with the incorrect spelling of the plural Rupee in Hindi, is the version which intrigues me most. The sellers of such notes are asking for $300-$500 minimum & typically have over-graded examples (a Fine note with issues described as "Very Fine"). All notes come with staple holes, so most have rust (around the holes) & other issues (pressed or processed). Be sure that you are okay with buying a note that has been processed/altered to appear better than it is. Always set a strict budget (limit to what you will spend) & remind yourself of the issues (possible pressing) when negotiating a price! If you or other collectors you know, plan on specializing in a certain niche, be sure you've researched the area you wish to explore as much as possible.
06/17/23 Another good reason to frequent a variety of forums is to gain interesting perspectives on what collectors seek. On this Numista thread entitled "Looking for your thoughts on banknote collecting," the collector "ahkai" wishes to know if anyone seeks banknotes from controversial territories. You can take the link to read about how many do actually seek notes from such disputed territories or briefly named colonies such as Rwanda-Burundi. On my Money Market page, I have listed the top 5 colonies from well-known, popular colonies but the list could go on (& on). What I have discovered is that it is good practice to draw the line so one can seek quality notes (which gets very difficult the farther one goes back).
06/10/23 I enjoy reviewing active forums like the PMF and threads like Recent World Purchases because it is always interesting to poll other people's point of views, notes they value & anecdotes why (or how) they attained a particular note (or set of notes). It pleases me to see divergent opinions on hot commonwealth countries to collect. If we were all collecting the same thing the hobby would be much less interesting (+ much more expensive). It is also good to see growing interest in the online software/app called Track & Price, which allows US/World collectors to track recent sales on specific banknote series. Check out my summary of May's Banknote market on my Money Market page.
06/03/23 I really thought this post "Pedigrees & Heritage" on the PMF was interesting since it forces one to dig a little & research the provenance of banknotes which have such a label on the back/front of the holder. Both PMG & PCGS will label a note with a provenance (for a cost) on their labels. The collector, who goes by "PetCin88" posts a 500 Maldives banknote with "The Ruth W. Hill Collection" as its provenance. I think it would be very interesting & perhaps worthy of an anthology to put together some of the famous collectors. Why? Because it would allow us collectors to explore (or chart) some of the big moments in that collector's life. It may be of interest to learn how they amassed such a fascinating or extensive collection. Typically, we hear about how the collector made their fortune from auction house biographies (& the collections speak for themselves) but I do think it may be an interesting read. I personally don't buy notes due to their provenance but there may be some who do. I prefer to buy a note because its part of a set I am trying to assemble. Despite all this, I think it makes for a fun read, to explore some of the great collectors such as Ruth Hill and others mentioned in this PMF thread.
05/27/23 I answered a thread on "Losing Interest" in the hobby on Numista's forum. My suggestions, to re-ignite the flame towards your collection of banknotes (or coins/both), is to:
A) educate yourself on some area that you have had a passion for (or an area of collecting you feel you may be a little rusty on like grading, assessing the note/coin’s value, ID the Book code for X coin/note, etc)
(My education often started with the catalogues which I would often read cover to cover. Today, you can get a lot by studying the endless online resources)
B) research a particular series so you feel like you know as much (or more) than your boss
C) organize your collection & purchase the best binder, sleeves, flips, etc to show off your collection (remember to organize it physically & digitally here or on a spreadsheet)
D) identify gaps in your collection & then develop some goals on how you will 1) raise $ for X coin/note 2) sources you can get X coin note for __ price.
E) start your own website to show off your collection (or sets in your collection). Start small & then get more ambitious
F) make some videos of your learning, your sets, or your experience working with your dealer boss & post them on the usual sites.
G) if all of the above fails, just take a break & then try an area that you get curious about again.
Many just choose option G (take a break) naturally & then something gets them back into it. I think what is even more challenging is to keep consistently active. To be consistently active in the hobby, I first suggest forum participation (over buying) since this is free. All my suggestions are free of cost (to a point) & I feel a lot of us skip taking stock (organizing) & identify gaps (C & D). The better collectors are often finding ways to raise money to pay for their next purchase (fulfill a collector goal). Downsizing (or selling off parts of one's collection) is one of the most challenging parts of the hobby. Options E & F take considerable time & some access to resources (computer/Internet/video & editing software).
05/20/23 Sometimes I like to know why I focus on certain banknotes in my World collection. I focus mainly on low-mid range denominations. I seldom buy or seek large denominations because these notes are usually smaller runs & don't get the same amount of circulation as the lower denominations. This would really make grading meaningless for the large denominations (like $1000 notes). Read this thread for some interesting notes if Money were no Object on the Paper Money Forum. A collector friend (who goes by "hfjacinto") posted that he'd buy P-130, the 1922 500 Escudos made famous by Alves dos Reis' (as part of his scheme to make loads of money). It is a fascinating story which I encourage you to read. Could you imagine something like this happening today? This "Highest Value Note" thread posted in Numista ties into one of the reasons I'm no fan of high value notes as well. There is a bit of explanatory reasons how the banks used these high valued notes which may also interest you.
05/13/23 One of the my most common observations from perusing many forums over the past 15+ years, is that people (some collectors) join, introduce themselves (such as HERE on CCF) & then we never see them post (or they are never heard from again). I understand this is common & don't expect collectors to be as active as myself. However, I would suggest to those who introduce themselves, to try to check in once a week (or once a month). As mentioned below, try not to think of the hobby as exclusively acquiring coins/notes. Remember to keep reading, dig deep into the library on the nation's history, or on the printing/mint's history. Organize & upgrade your collection's storage albums (conatainers). Document your collection (scan and attribute each coin note in a decent spreadsheet. If you've done that, can the documentation be upgraded? Ask yourself, "how can I improve my storage, my binder, currency sleeves, etc?" "Have I developed some specific (attainable) collector goals recently?" Identify gaps and think of strategies to fulfill (pay) for those goals. I have heard of collectors selling their post or trading cards in order to help develop such & such set. (What a great idea!) And remember to use the forums as an important resource (post pictures of your coins/notes, ask questions, etc). Make contact with collectors who you think have similar interests. Go to your bank and ask if anyone can help get you get >________< [> whatever coin/note interests you<]? Be creative! If it doesn't work out don't give up but find alternative means. Remember that the goal is to stay somewhat active (even if it means a little bit each month or once a week). Being consistently active in the hobby allows you to get more out of it!
05/06/23 Many new collectors ask for advice on how to acquire banknotes. Many ask about getting banknotes at Currency Exchange outlets or banks. This is fine so long as you can secure pristine uncirculated examples & you're willing to spend a few (or put them back in the wild, should the note not meet your standards). I often encourage these collectors in considering buying older series in UNC on eBay. I do realize these will cost a premium but at least they will be uncirculated & most will be less expensive than should you purchase them at your Local Coin Shop (LCS). Some LCS may have sales on "dealer stock" which are typically super common notes in AU (Almost Uncirculated) & I'm not a big fan of these since they're to be found almost anywhere at a discounted price. I'm a much bigger fan of "quality over quantity." I do not encourage banknote subscription services where the collector is sent a number of cheap dealer stock notes and he/she sends back the ones he/she doesn't wish to keep. Remember: Do NOT to focus simply on acquiring notes. You would be doing yourself a favour by learning what you like on your own terms & getting familiar with what is tough & what is common. Organize what you have in decent binders. Learn to grade. Educate yourself as much as you can. Be sure to create an inventory of what you own. Register & join a forum (& participate). Don't just lurk. If you really wish to get more from the hobby than make a commitment to put a little into it. Develop some clear (attainable) collector goals once you see where you have gaps. I always encourage collectors to start out small (get the feel of what/how to collect) by starting with one's own country. Focus on low denominations first. Once one gets a feel for what they have, have a set of their own nation's notes, then branch into other countries or select a theme/motif, or type of banknote (commemorative, polymer, hyperinflation, special number, replacement, etc) that he/she wishes to acquire. The best collectors do things methodically and learn the ropes. They avoid making costly mistakes by arming themselves with pertinent info.
04/29/23 In keeping with the topic of what makes a note more valuable, another age-old post appeared on the Paper Money Forum. The question (which one hears a bit more often the longer one collects) was should "Collectors Seek EPQ or not?" Many collectors answered "it depends" which is completely true. Sometimes there are essentially so few "Q" examples that one will have to settle for a non-Q note particularly on some of the older series. These collectors seek clear, well centred, attractive notes with lots of "eye appeal." However, if you don't collect particularly rare notes, particularly modern world currency, you should be seeking holders with "PPQ," EPQ or "Original" designations. Take the link yourself to see what others say about this important topic!
04/22/23 I hope a collector/blogger who goes by ahkai does not mind me borrowing the examples of COLLECTOR NOTES he describes as increasing in value last week. I will copy portions of his post from a Numista thread entitled "What Makes a Note More Valuable:"
Below are few modern notes that I managed to get at a fair price and how they are selling at a ridiculous price: -
China - 100 yuan 2000 polymer. Back in early 2000, I exchanged a few of these notes with a Shanghai collector at face value against my AUD.
China - 100 yuan 2000 polymer 2-in-one uncut sheet. I only paid US$55 for this note. The last time I heard, the asking price was around $2,000
Poland - 20 zlotych 2015 P188 commemorative (30k sets issued). I paid a reasonable price (A$35) when it was first issued. Recently, a Polish collector asked if I was willing to exchange with him. This note is selling between $4-$500 a piece now
Poland - 20 zlotych 2016 P188A commemorative (35k sets issued). Similar asking price ($I paid A$45). Now the selling price is few hundred dollars.
Czech Republic - 100 koruna P28 overprint 200,000 pieces issued. A collector sold this note to me at face value back in May 2019, when I bought the P29 commemorative note from him. Recently, I saw someone selling on eBay for over $100+.
Malaysia 600 ringgit - This note was sold via public application. Only 6000 sets issued at 1,700 ringgit each (world largest banknote in size). I am not sure if this note was fully subscribed, but I believe many did not turn up and collect them, so it went for a second round, and they are all sold now. Just look at the ridiculous asking price now. A collector friend in Hong Kong sold one last year via auction, for US$6,000. I have 3 pieces and only paid RM1700 each.
The above thread is another good reason for collectors to try to tune into their favourite forum on a regular bases. Ahkai offers some insightful tips.
04/15/23 I have contributed to a Numista thread on "What makes a note more valuable." It's tbe "holy grail" question & one which I strive to answer weekly here. "Kdmchugh" from the PMF PM'd me the same question almost simultaneously & below is my answer:
Generally speaking I would expect notes that Americans like to always be popular since they dominate the hobby in terms of numbers. Other world favourites include notes that ended (like pre-Euro, Ecuador, El Salvador, pre-decimal for Australia, etc.) I'm keen on small island nations b/c of the low # issued. Deals can be had for special # since a lot of world collectors don't get the significance (yet). Not sure how long the cheap low # world note trend will continue though.
I also created a Collector WORLD MOTIF page on my NC site. I like QEII notes but I also have gotten into some nature motifs which you can find a arbitrary list of some of the more well known notes. IMO: Belize, Cayman, Falklands, Hong Kong, Gibraltar, Guernsey, Jersey & Mauritius are bargain basement prices (considering their low issues). Go for higher denominations as these have sky rocketed for Bahamas, Bermuda & most other QEII nations.
Remember some of the rules of thumbs I posted in my videos, like Buy the Numbers (or By the #) or BtN. I mean think not only of the serial number but also what kind of "fan base" would this banknote have? Any pre-Euro from the 1970's in UNC & mid denomination (& up) would be considered (if it were me). Europeans are just getting into banknotes (& most Americans aren't that interested). There's plenty of European coin collectors but I think they're only slowly warmed up to paper. So this spells out "opportunity" for me as its an area ripe for growth.
"Kdmchugh" replied that he had access to a good number of World notes & that I would appreciate his LCS because the owner doesn't care about world. I replied I would & added that I would seek:
Short series (If you learn of any- focus on these) & always shoot for UNC (or near AU) unless from those expensive nations (like the QEII nations with the $$$). I would snap up any notes from Rhodesia or Seychelles if they have QEII on them no matter what the condition if they were cheap (b/c they're getting expensive on the bay).
"hfjacinto" (another collector from PMF) collects notes from Portugal: some of the mid to high denominations cost a fortune from EF up (UNC & are very rare). Good buys could be notes that are original (EPQ) in VF to AU (be sure they're not pressed) have no spots/issues.
I also really like the Iranian banknotes with the Shah & the ones that obscure the Shah after the Islamic Revolutionary Guard seized power. There's a lot of these notes that are very tough to source but sometimes you can get them & IMO super cheap considering how short/quirky they are. There's a lot of collectors who go for disposed of dictators so the Shah notes from Iran firmly qualify for those collectors.
04/08/23 I always encourage new collectors to be extra vigilant when starting out in this hobby. Why? Because there are many unscrupulous eBay sellers who prey on collectors lack of knowledge. The most common tactic is to over-grade a note by stating "Note looks Very Fine" (or VF) when it is clearly a washed Fine grade (at best). The other tactic they may employ is to misattribute with a more scarce Pick #. I have seen the long running P-142 Belgium 100 Francs (with signatures both sides) labelled as if its the earlier, breif run of P-140 Belgium 100 Francs (signatures- front only). There are many other examples. But the worse example of unscrupulous dealers are those who sell fakes or doctored coins/notes. I'm talking about those charlatans who pass off "Occupied WWII" notes with phoney stamps as seen reported on this Numista post. If you see items like this on the bay please report them (or bring the topic up on a forum). That way you help new collectors stay on track.
04/01/23 Whenever I see a post with a collector asking about whether a note (or set of notes) is worth the price I typically give a skeptical reply. In this case on Reddit, the collector is asking about a mixed set of DPRK banknotes. I won't be very encouraging because collectors shouldn't be so worried about buying an inexpensive set. If this is the case then they should back away or take a pass. I wrote that they were probably real (many newbies suspect even the lowest denominations to be fake) and he may have trouble "breaking even" when selling down the road (should he have collector's remorse). Another poster thought I meant "making a profit down the road" suggesting the OP simply found the notes interesting. I find all banknotes interesting so that was not what I implied at all. When collecting the majority of what we collect, a lot of us simply wish to break even should we wish to return (or sell) it the next day. Another poster composed a long detail explanation of how the DPRK issued different series for tourists (& about DPRK's closed monetary system). To me, such "funny money" fails on many levels in terms of its function as fiat currency. Today, tourists use either US or Chinese notes since the closed "funny money" scheme collapsed.
03/25/23 I have returned after a month off on the other side of the planet, in East Asia. We visited Thailand & the Philippines. The interesting thing I observed was how far along each nation were in their recovery from the pandemic. Our flights required we wear masks going to Thailand & the Philippines. We had to wear them again on a domestic flight but they were not very concerned about them on our return from San Francisco to Toronto. Many malls were nearly empty in Bangkok but busier in Pattaya, Thailand. Traffic was steady in both nations. When we drove to Manila I was told that it was better (less busy) than pre-pandemic levels (which was hard to imagine because it was still busy). Thailand had introduced polymer Ten Baht notes ($1.00 CDN = 25 Baht) & their currency was worn but not nearly as bad as bills in the Philippines (where I only saw 2 polymer 1000 Peso notes my niece exchanged for me). I did not get a 20 Peso coin and the bills were mostly rags (the odd near VF note seemed remarkable). I had noticed that the new bars for the blind were not consistent on the 50 & 100 Pesos notes in the Philippines. I only received one older 200 Pesos note (all worn out paper 1000's). Although I took a break from contributing to my site, I continued to peruse the forums. There have been a few very good threads on the PMF, including one regarding how Lighting alters the Appearance of a note & factors to consider over the purchase of Fine notes vs. NET Notes.
(ONE MONTH BREAK)
02/18/23 There has been a lot of chatter about Numista's Rarity Index (NRI) on a NUMISTA POST re: banknotes which I wish to address here. The problem with this "index" is that while a "rarity score/NRI" may be somewhat indicative (useful) for the scarcity of a coin, it is very misleading (in terms of toughness) for most banknotes. The reason the index is useless on a banknote is that historically banknotes were issued with ONE date yet multiple signatures or SERIES # (& prefixes which tipped off catalogers to the actual release dates). For example, if you look at both the super short lived 1935 & the 1937 Bank of Canada FIVE Dollar series, you will see that there are MORE 1935 English & French versions of the 1935 debut series than there are the 1937 (2nd) series. This is to be expected since the 1935 had 2 years whereas the first Osborne Towers signature of 1937 had only 1 brief prefix. By the numbers, the 1935 P-42 English/P-43 French FIVE had over 9M issued (NRI 85/90) while the 1937 P-60a Osborne Towers FIVE had 8.8M (NRI 56). But neither the NRI (rarity index) nor the numbers issued tell the REAL story. The NRI factors in the # of collectors who wish to trade (irrelevant in this case) but does not factor in the brevity of this First signature/short prefix of the 2nd series. Instead it combines all the signatures from 14 year series the second series was in existence! The first short A/C prefix of the 1937 FIVE wasn't saved but returned/destroyed by the BOC. Several Canadians (mostly non collectors) tried desperately to save the orange-brown/idiosyncratic P-42 $5.00 but ignored the newly introduced 1937 P-60a Osborne Towers FIVE (assumed it was common). Most Canadian collectors know that it is far easier to source an English P-42 over P-60a (while the other 2 signatures for 1937 are common)!
There are many other reasons the NRI falls apart for banknotes. Many European/Asian series start out with no Letter (series) before the serial number, or a 1 letter prefix (& then a 2 letter prefix). Catalogues often overlook this fact! Another obvious reason is that many collectors seek tough variations (brief signatures, change-over/short prefixes, replacements, special numbers & errors) from common series! This is the modus operandi of most collectors! AND these same collectors typically enter their notes on sites like NUMISTA while the older/wealthier generation (who can afford tough series like the Costa Rican Mona Lisa note or Portugal's infamous P-130 500 Escudos) NEVER advertise their notes. In other words, there will be many/many tough series that will never have a MISLEADING red heron index, like the NRI attributed to them.
02/11/23 Another common question on forums concerns the grade of a member's banknote, or what can be done to improve the grade. Higher grades translates into higher values/returns from the note. Many paper money collectors come from collecting coins and the temptation to improve the note becomes too irresistible. Some collectors figure since they have cleaned 1 or 2 coins successfully, why not improve his/her note's appearance? This usually means flattening (pressing) a banknote so it will "appear better" than it actually is. I have often counselled collectors to "leave the notes alone/put it in a sleeve." Pressing a note to remove paper clip indents, folds, (no matter how minor) is NOT recommended. If you press your note (with the long term weight of books or quickly by iron) you destroy its embossing. The embossing is the natural indentations left by the printing process (serial numbering & however the note was created). Notes are often wavy and should not feel flat with no embossing. If a note has been lightly pressed, graders will not consider it original but processed & it will lose EPQ (Exceptional Paper Quality) status. Processed notes also lose their original appearance. The colour & contrast become less vibrant (note looks dull). Sometimes they curl when laid flat. If you are just starting out in this hobby, it is understandable that you may not care one way or another (or you might just say, "I can afford to do this to my money!") However, if you've truly enjoyed the various subtle qualities of currency: its hidden micro printing, embedded security features & texture, then you should understand how altering any of these only diminishes a note's appearance (& value).
02/04/23 It is now official: Australia will no longer feature the monarch, King Charles III on their $5.00 banknote. This CNN report gives the full details in how the RBA will choose an indigenous leader/design instead. There has been a bit of chatter on the forums, as many collectors have lamented the loss of the monarchy's significance. I feel a little ambivalent towards the change: on one hand it is a departure from tradition, but on the other hand, it shows progress and a change from the old guard. I have always admired how Australia has been a leader for change (they pioneered the use of polymer & were the first to be rid of all paper banknotes). I haven't always been a big fan of polymer but I've grown to appreciate it. The brilliant Australian 1988 Commemorative $10 departed from the tradition of honouring Australian icons so it should be no wonder that they're boldly moving into new territory with the $5. Canada, New Zealand & other Commonwealth nations have seemed to drag their heels in terms of severing ties from British traditions. But, as a collector, one cannot help be attached or fond of the old traditional ways. If the Canadian government goes ahead and drops HM Charles III's image, it will be a huge change for many numismatists. We have often identified our coins & currency by the reigning monarch's design first (young, modern, mature bust, etc). With the introduction of the Viola Desmond vertical $10.00, the Bank of Canada has been the leader in accepting change (compared to the RCM). The central bank's 1969/1975 "Scenes of Canada" series reflected a new, more autonomous Canadian identity when it introduced past Prime Ministers for four denominations. The newly designed $5.00 was announced in 2016, at the same time they announced their intentions to design a new vertical $10.00. Most of us thought that the new FIVE would be completed by now, issued in 2021, but we have yet to see anything. But it is only the new $20 banknote (where QEII is featured) that we would expect to see either King Charles III or some other famous figure. It would be more likely for us to see changes to our currency rather then our coinage but I still suspect (maintain that) it may not come until a future series. I suppose "time will tell" and it appears as if the Bank of Canada figures it has lots of time to decide.
01/28/23 Another two popular questions on forums these days are seeking opinions on whether a collector's note is a: A) FANCY SERIAL NUMBER? & B) AN ERROR? The first questions comes as a result of the youtube gurus who have created all sorts of new terms never seen before by collectors. I don't know where the term fancy came about but I would suggest that there are a limited number of fancy # which would be special to an individual (like birthday # notes or somebody's area code, etc). One term I really dislike is a "broken ladder." Special Serial numbers MUST be ON the MONEY! There is no "in between" or near ladder, near solid, etc. While some may wish to chase the maybe notes, remember that special serial numbers are not like horseshoes nor hand grenades. Near misses don't count. And the same rule applies to errors (notes slightly off-centred are slightly off-centred, NOT errors). Minor printing variations will exist (especially the older the series). The older the series the less likely you will find a perfectly centred note (& thus the premium). One of the most common question comes from newbies who have found a note with a teller's stamp (thinking it is an error). Teller stamps & chop marks are post production alterations. Errors & Specials serial numbers should be dramatic & wow you! Also, be aware that many of the Central banks have sold sheets of banknotes years ago. There are many faux errors which were notes cut from these sheets. If you wish to collect errors, you must research what constitutes an error and beware of these constructed errors made to appear like one.
01/21/23 Two questions often get asked over & over again on many of the paper money forums. The first is, "what is my note worth?" and the 2nd is "should I buy now?" (often implying that perhaps the market is a bit too heated to jump in). The first question is always dependent on the condition of the note. In my experience, almost 99% of the time, the seller or collector over grades. Once several pair of eyes take a look at the note in question everyone will seem to have a different opinion on the note's condition. Why? First, because sellers tend to over grade (to up their profit) & secondly, because so many collectors are either poor (inexperienced) or B.O. graders (Bulletproof & Opinionated). I used to be the 2nd type but then recalibrated my grading after a few major missteps! This is what I discuss in the first link I've provided on Numista. One of the things I learned from a few wise dealers was there are many traps & being too bullheaded (with blinders on) can cost a collector serious money! This becomes an obstacles since so many sellers have washed, pressed & processed their notes in order for them to appear nicer & profit from the so-called "improvement." For most collectors the processing detracts from the note's appearance as I go on to explain as "Serial_Number_8" on the above thread. The second most asked question (about right time to buy) centres around a hot (vs cool) market which I have made a few contributions in this thread aptly entitled "Bidding Madness." Remember to choose your auctions carefully (read the fine print re: buyer's premiums & fees). A lot of collectors remain gun shy over auction houses but I have found eBay to be seriously over priced after most sellers have transitioned to Buy It Now (BIN) listings due to the high cost of selling on these platforms today. When I started buying on eBay 80-90% of the listings were True Auction style Listings (TAsL) & the minority were BIN but that's no longer the case. When I started buying on eBay their administration gave sellers incentives (like lower listing fees) to sell TAsL but that's no longer the case. It was always "bidding madness" when I started b/c good quality notes were listed with a 99 cent start & the market determined the final bid price. These days, very few sellers have the stomach to list high quality, tough notes TAsL so we see more overpriced BIN on more common items. If you are tired of seeing the same old on eBay then I suggest you check out some of the auction houses but remember to set limits to what you will bid. Set yourself a budget & make sure to only bid on 3-5 items which you feel are must-haves. Do not bid too high (especially if you're new to this). You really should lose & not win a few times if you want to win something for a good price (its that simple). If you're overly eager to win something you will pay the price!
01/14/23 Today is the last day I have added examples of the notes I submitted to PMG on my PMG RESULTS page. My only recommendation to those thinking about making a submission is to get really organize & set up some minimum criteria. My criteria was that the note had to be worth a certain $ value, somewhat tough to attain, Choice to Gem & original or EPQ. [Each collector typically has his/her own criteria so ask around] I was a little lenient in my inspections so a few notes came back which were pressed (& this is easier to miss than I realized). Remember your note could be examined by more than 1 pair of eyes. There could also be slight foxing, a nearly invisible mark or some other minor detraction (deduction) that eliminates the chance for EPQ so it may be a good idea for you to get a 2nd pair of eyes to look over your potential submission. A bulk submission cannot have errors & must be all from 1957 to present or it will be a vintage bulk rates. Print up a submission form & review it at a few times well before you ship it out. I made some hasty last minute re-arrangements & some of the notes I replaced my original selection of 50 "missed the boat" on my criteria! Be sure you attribute the note correctly (this will cost you $5 per note if you don't). I recommend you think long and hard on what you wish to submit as the expense mount up fairly quickly (even for bulk submissions).
By the way, I have had a lot of great trades/sales with a lot of great collectors! I am going to add a new section "Friends of Notaphilyc Culture" to my Money Market page & "archangel514" will be my first friend added. Please visit his site to see what he has.
01/07/23 I wrote a post on my experience on the CPMF regarding my past 4 years trying to get UNC examples of the new (2018) Vertical TENS at the various bank branches I frequent. It has never been easy but since the pandemic it has even become more of a challenge. That was why I was so surprised when earlier this week I received a small run of Rogers Macklem FFK $10 signature change-overs. (I actually convinced myself that the FFK i saw counted out before me were of the Wilkins Macklem variety & not the new signature combo). Honestly folks, I have done this so often & have never came across a small run of Wilkins-Poloz FFE Tens (or countless other change-overs) so this came as a very pleasant surprise. I have since offered most of the lot up for sale on the CPMF's Trading Post (with first dibs to collectors I've dealt with). I hope that they take a moment to stop by here to see what other notes I have (2018 TENS & select a few) before they settle on a total. I typically don't record all the notes I get (as this changes from week to week).
The point of this website is to function merely as a REFERENCE site, encourage best practices & to stimulate interest in this gr8t hobby. If there are other "take-aways" bonus!
In 2018, I attended an excellent RCNA workshop in Mississauga on storing/preserving one's collection and grading paper money by Steven Bell of BCS. If you have been a collector for a few years and want more information- then I highly encourage you to try getting your feet wet at either a local chapter or at one of these great workshops! See the RCNA link on Notaphilyc Sites page.
Thanks for stopping by!
Scroll down for video tips on collecting, buying & selling banknotes, understanding what makes a note more collectible, etc. Take this link for observation on the Money MARKET.
This site could not have been put together without a multitude of reference material drawn from many sources. Please refer to the Notaphilyc Sites page if you wish to pursue more information (like I have) or see my Acknowledgement page to see who I am indebted to for info.