Banknotes

Bank Notes Around The World

2008-10-12T18:01:00.009+08:00

How to start a stamp collection

2007-02-24T01:29:00.000+08:00

Stamp collecting, or "philately", is an interesting way to chronicle the history of the world. Here's how to begin your collection.

Go to the post office and purchase new stamps.
Take used stamps off your old mail. Note that it's sometimes more valuable to collect the entire envelope rather than stripping off the stamp because of a unique postmark date.
Ask friends and family for their old stamps. Their saved envelopes also can be valuable.
Purchase stamps from dealers, who are often listed in newspaper classifieds and offer stacks of assorted stamps.
Order stamps through the mail or via Web sites, either by approval or by want list. "Approval" is when a dealer sends you assorted stamps and you choose which ones to keep. A "want list" is when a dealer checks his or her stock and quotes prices for specific stamps you want to collect.
Bid at stamp auctions or philatelic exhibitions. Take the time to look through the merchandise and make educated deals.
Trade with fellow collectors. Do this by meeting other stamp traders at shows, auctions and stamp clubs.
Store your stamps where they will not be harmed. A simple shoebox will do for a beginner.
After you have removed a used stamp, make sure that you put the stamp between two blotters. You should always use stamp tongs when handling stamps so that you do not get the oil from your fingers onto the stamp itself. If you don't have stamp tongs, you can use simple household tweezers to do the job.
To get stamps off paper, take water that is not too hot and not too cold, but lukewarm, and put your stamp face down until it sinks to the bottom. Then gently peel it off.

Disney Dollar

2007-02-02T01:28:00.000+08:00

Disney Dollars are a type of currency available from the Walt Disney Company. Legally, they are considered gift certificates, but Disney parks, stores, and resorts in the US and Puerto Rico accept them as cash in payment of any bill.

The dollars come in one, five and ten dollar denominations (and since 2005 also in $50) and are redeemable for goods or services at the theme parks, the Disney cruise ships, their Castaway Cay port of call and the Disney stores. They were first issued in 1987 and are collected by Disney memorabilia fans. Special editions are sometimes sold to Disney Cast Members as a form of incentive.
Disney dollars come in A dollars and D dollars. The former created for Disneyland in Anaheim, California (hence the A), and the latter D for Walt Disney World in Florida. New Disney dollars have been produced every year since 1987 except 1992 and 2004. Since 2005 they also have T dollars (for The Disney stores) and B dollars (only as $50 bills from the artist Boyer for Disneyland's 50th Anniversary Celebration).

Belize - Caribbean Paradise / Tapir Animal

2006-08-25T23:03:00.001+08:00

Belize is an adventurer's paradise...

Front : Belize (1991) $2

Back : Belize (1991) $2

.... the stuff of Indiana Jones with Mayan temples, huge rainforest canopies, marine wildlife, aqua activities and more. Rich with flora, fuana and sea, it's caribbean paradise at its best. The tapir is Belize’s National Animal.

Banknote

Common Attributes - 1990 Family of Belize Banknotes
- watermark of the Sleeping Giant, the coat of arms and the jade head.
On the front there is a portrait of H.M. the Queen, a design in blue and gold of the Queen trigger-fish and the Queen angel-fish in the centre and a silver fish in the lower left corner;

On the back there is a panel containing the national symbols: the mahogany tree, the black orchid, the toucan bird and the Baird's tapir.

Mayan theme. See-through feature: Detail of the carving of an arch from the site of Xunantunich situated in the Cayo District.

The vignette at the left on the obverse of the note is part of the stela from the sitte of Nim Li Punit (the Kekchi translation for Big Hat) located in the Toledo District. The stela depicts two figures in on offertory scene and also has Maya inscriptions.

The main picture on the reverse of the note is a combination of scenes from three Maya sites, seen from different angles. On the left is illustrated the site of Altun Ha situated in the Belize District. This site is famous for its Jade Head of the Sun God, Kinich Ahau. In the centre is the restored site of Xunantunich in the Cayo Disctrict and on the right is the site of Lubaantun situated in the Toledo District.

Source: Central Bank of Belize

Belize - Caribbean Paradise / Tapir Animal

2006-08-25T23:03:00.000+08:00

Belize is an adventurer's paradise...

Front : Belize (1991) $2

Back : Belize (1991) $2

Banknote

On the back there is a panel containing the national symbols: the mahogany tree, the black orchid, the toucan bird and the Baird's tapir.

Mayan theme. See-through feature: Detail of the carving of an arch from the site of Xunantunich situated in the Cayo District.

Source: Central Bank of Belize

Stamps - Chateau Ramezay Collection

2006-08-25T22:58:00.000+08:00

In Dec 2005, Spink reported a record "..achieved over 10 times its estimate!.." for a 1870+ stamp cover with both Paris and Passy datestamps of receipt (Feb 2 1871) clearly struck.

One 1870 French Stamp Cover Fetch Whopping £12,650
This is part of Chateau Ramezay collection. Read full story at Spink.com

Of Prehistoric Buffalos and Cave Carvings - Algeria & Sahara Desert

2006-08-25T22:57:00.000+08:00

Red-brown and orange on multicolored underprint. Tassili cave carvings of animals at lower center,....

Front : Algeria (1998) 1000 Dinars

Back : Algeria (1998) 1000 Dinars

.... water buffalo's head at right and as watermark. Hoggar cave painting of antelope at left , ruins at center on back.

The banknote is based on Algeria's prehistoric significance and the Sahara desert. Tassili is a mountain range in the Sahara and Hogger is the Ahaggar Mountains in central Sahara.

The buffalo is part of prehistoric Sahara where remains show artistic stone engravings of animals that became extinct in the area, including the buffalo (Bubalus antiquus). For more info Freedictionary Sahara

Any Info About Fiji's 'Manusa' Bird?

2006-08-25T22:56:00.000+08:00

The banknote carries a reproduction of the Queen, a canoe masthead symbol of Reserve Bank...

Front : Fiji (2002)$10

Back : Fiji (2002) $10

.... Manusa bird on front, left bottom. A quick google on this bird did not produce any details about this bird. Any ideas anyone?

On the reverse is the Parliament House and Reserve Bank building. The sginature is Savenaca Narube's Governor, Reserve Bank of Fiji.

Banknote Status For "The Golden Bear"

2006-08-25T22:55:00.000+08:00

Last year The Royal Bank of Scotland Group (RBS) issued a £5 banknote in honor of Jack William Nicklaus, aka "The Golden Bear" who played in his 38th final at St. Andrews Open Championship.

RBS presented Jack Nicklaus with a frame displaying three of the commemorative notes, which bear the serial numbers 1966, representing his victory at Muirfield, as well as 1970 and 1978, which represent Jack’s victories at St Andrews. A frame was also presented for the Nicklaus museum with two notes, bearing the serial numbers 1940, the year of Jack Nicklaus’ birth and 2005, which represents the year of his last Open Championship.

Front

A total of two million Nicklaus commemorative £5 notes went into circulation on July last year, the first day of the Open Championship.

RBS also noted that apart from the Queen and the late Queen Mother, Nicklaus will be the only living person ever to have appeared on a Scottish note.

The front of the £5 note is largely the same as the existing one, apart from the fact that the Golden Bear logo is shown and that the serial number only appears once. In addition, all the serial numbers for this commemorative banknote start with "JWN", short for Jack William Nicklaus.

The reverse of the banknote has been completely redesigned and shows images of Jack holding the claret jug and playing during his 1978 victory at St Andrews. The R&A clubhouse is depicted on the top left hand portion of the note, and in the bottom left, Jack’s winning scores at St Andrews in 1970 (when he won an 18-hole playoff with Doug Sanders) and in 1978. On the bottom right hand side of the note, the tee at the 18th hole can be seen along with the Swilcan Bridge. A scorecard 2005 Open is also shown.

Korean W1000 New Design For 2007

2006-08-25T22:47:00.000+08:00

Last month the Bank of Korea unveiled the design for the new W1,000 note. This note supposed to have better security features and expected to issue in 2007.

The color has changed from red to blue. The image of Yi Hwang, a prominent Confucian scholar of the Chosun era (1392-1910), remains, but the back now shows "Gyesangjeonggeodo," a painting by Jung Sun, a famous Chosun-era painter instead of the prestigious Dosan lecture hall in the southern city of Andong made famous by Yi Hwang's teachings. The painting instead depicts Yi Hwang writing in the lecture hall.

In addition, an image of tuho, a traditional Korean game, and the Hyungbae pattern used for official robes will be replaced by images of a Chosun-period classroom, ume flowers and traditional window and door designs.

The new note will be 15 mm narrower and 8 mm shorter, which is more compact than a US$1 bill, making it easier to keep in the wallet. It is 6 mm narrower and the same length as the new W5,000 note which went into circulation recently.

The new design features color-changing ink, latent images, fine lettering and silver thread to counter forgery attempts just like the W5,000 note.

South Korean won

New W1,000 Note Unveiled

Argentina's Pampas, Gaucho And Julio

2006-08-25T22:46:00.000+08:00

Alejo Julio Argentino Roca Paz (July 17, 1843 -October 19, 1914) was an army general who served as President of Argentina......

Front : 1000 Australes (1988-90)

Back : 1000 Australes (1988-90)

.... from 12 October 1880 to 12 October 1886 and again from 12 October 1898 to 12 October 1904.

Banknote 1000 Australes - front is image of past President Julio Roca and reverse is Liberty with torch and shield

In the period before Roca, a distinguished author and historian as well as soldier named Mitre was elected president. He moved the capital to Buenos Aires, where it has remained ever since - though its status as permanent capital is not formally accepted until 1880. Argentina, founded in 1816, has finally established its political identity. Its economic nature however is about to undergo a transformation.

The Argentinian pampas has traditionally been a lawless area, the preserve of wild cattle and horses (descendants of animals which have escaped from Spanish domestic use) and of equally wild gauchos. The only indigenous inhabitants of the area, the American Indians, are nearly exterminated by the colonists in a series of 19th-century wars. In 1878-9 the remaining Indians are either killed or are driven south into Patagonia in a campaign commanded by Julio Roca, a general who is voted into the presidency of Argentina in 1880 on the strength of this success.

His victory over the Indians is a significant step in a process which is steadily

Nicolas Copernicus - Poland's Famous son

2006-08-25T22:43:00.000+08:00

The face on the front of the banknote is that of the famous Polish son Mikolaj Kopernik aka Nicolas Copernicus.

Front : Poland 1982 1000 Zlotych

Back : Poland 1982 1000 Zlotych

Nicolas was born February 19, 1473 in Torun, Poland. Copernicus was a proponent of the theory that the Sun, and not the Earth, is at rest in the center of the Universe. His heliocentric system states that the Sun (not the Earth) is at rest in the center of the Universe, with the other heavenly bodies (planets and stars) revolving around it in circular orbits. This was considered implausible by the vast majority of his contemporaries and most astronomers. Strong theoretical underpinning for the Copernican theory was finally provided by Sir Isaac Newton's theory of universal gravitation (1687).

On the reverse is the image of the heavenly bodies revolving aorund the sun.

The Polish currency is called 'Zlotych'. The current exchange rate is about USD1 = 3.167 PLN (short-exchange notation for Zlotych). Btw, anyone, how do we pronounce this?

History of Money - Tabular

2006-08-21T01:23:00.000+08:00

Tabular

Barter	The first people didn't buy goods from other people with money. They used barter. Barter is the exchange of personal possessions of value for other goods that you want. This kind of exchange started at the beginning of humankind and is still used today. From 9,000-6,000 B.C., livestock was often used as a unit of exchange. Later, as agriculture developed, people used crops for barter. For example, I could ask another farmer to trade a pound of apples for a pound of bananas.
Shells	At about 1200 B.C. in China, cowry shells became the first medium of exchange, or money. The cowry has served as money throughout history even to the middle of this century.
First Metal Money	China, in 1,000 B.C., produced mock cowry shells at the end of the Stone Age. They can be thought of as the original development of metal currency. In addition, tools made of metal, like knives and spades, were also used in China as money. From these models, we developed today's round coins that we use daily. The Chinese coins were usually made out of base metals which had holes in them so that you could put the coins together to make a chain.
Silver	At about 500 B.C., pieces of silver were the earliest coins. Eventually in time they took the appearance of today and were imprinted with numerous gods and emperors to mark their value. These coins were first shown in Lydia, or Turkey, during this time, but the methods were used over and over again, and further improved upon by the Greek, Persian, Macedonian, and Roman empires. Not like Chinese coins, which relied on base metals, these new coins were composed from scarce metals such as bronze, gold, and silver, which had a lot of intrinsic value.
Leather Currency	In 118 B.C., banknotes in the form of leather money were used in China. One-foot square pieces of white deerskin edged in vivid colors were exchanged for goods. This is believed to be the beginning of a kind of paper money.
Noses	During the ninth century A.D., the Danes in Ireland had an _expression "To pay through the nose." It comes from the practice of cutting the noses of those who were careless in paying the Danish poll tax.
Paper Currency	From the ninth century to the fifteenth century A.D., in China, the first actual paper currency was used as money. Through this period the amount of currency skyrocketed causing severe inflation. Unfortunately, in 1455 the use of the currency vanished from China. European civilization still would not have paper currency for many years.
Potlach	In 1500, North American Indians engaged in potlach , a term that describes the exchange of gifts at banquets, dances, and various rituals. Since the trading of gifts was so important in figuring the leaders' community status, potlach went out of control as the gifts became more extravagant in an effort to surpass others' gifts.
Wampum	In 1535, though likely well before this earliest recorded date, strings of beads made from clam shells, called wampum , are used by North American Indians as money. Wampum means white, the color of the clam shells and the beads.
Gold Standard	In 1816, England made gold a benchmark of value. This meant that the value of currency was pegged to a certain number of ounces of gold. This would help to prevent inflation of currency. The U.S. went on the gold standard in 1900.
Depression	Because of the depression of the 1930's, the U.S. began a world wide movement to end tying currency to gold. Today, few nations tie the value of their currency to the price of gold. Other government and financial institutions now try to control inflation.
Today	At present, nations continue to change their currencies. For example, the U.S. has already changed its $100 and $20 banknotes. More changes are in the works.
Tomorrow	Tomorrow is already here. Electronic money (or digital cash) is already being exchanged over the Internet.

History & Anatomy of Money

2006-08-21T01:22:00.000+08:00

The History of Money

In the Beginning: Barter
Barter is the exchange of resources or services for mutual advantage, and may date back to the beginning of humankind. Some would even argue that it's not purely a human activity; plants and animals have been bartering -- in symbiotic relationships -- for millions of years. In any case, barter among humans certainly pre-dates the use of money. Today individuals, organizations, and governments still use, and often prefer, barter as a form of exchange of goods and services.

9,000 -- 6,000 BC: Cattle
Cattle, which include anything from cows, to sheep, to camels, are the first and oldest form of money. With the advent of agriculture came the use of grain and other vegetable or plant products as a standard form of barter in many cultures.

1,200 BC: Cowrie Shells
The first use of cowries, the shell of a mollusc that was widely available in the shallow waters of the Pacific and Indian Oceans, was in China. Historically, many societies have used cowries as money, and even as recently as the middle of this century, cowries have been used in some parts of Africa. The cowrie is the most widely and longest used currency in history.

1,000 BC: First Metal Money and Coins
Bronze and Copper cowrie imitations were manufactured by China at the end of the Stone Age and could be considered some of the earliest forms of metal coins. Metal tool money, such as knife and spade monies, was also first used in China. These early metal monies developed into primitive versions of round coins. Chinese coins were made out of base metals, often containing holes so they could be put together like a chain.

500 BC: Modern Coinage
Outside of China, the first coins developed out of lumps of silver. They soon took the familar round form of today, and were stamped with various gods and emperors to mark their authenticity. These early coins first appeared in Lydia, which is part of present-day Turkey, but the techniques were quickly copied and further refined by the Greek, Persian, Macedonian, and later the Roman empires. Unlike Chinese coins which depended on base metals, these new coins were made from precious metals such as silver, bronze, and gold, which had more inherent value.

118 BC: Leather Money
Leather money was used in China in the form of one-foot-square pieces of white deerskin with colorful borders. This could be considered the first documented type of banknote.

800 - 900 AD: The Nose
The phrase "To pay through the nose" comes from Danes in Ireland, who slit the noses of those who were remiss in paying the Danish poll tax.

806 AD: Paper Currency
The first paper banknotes appeared in China. In all, China experienced over 500 years of early paper money, spanning from the ninth through the fifteenth century. Over this period, paper notes grew in production to the point that their value rapidly depreciated and inflation soared. Then beginning in 1455, the use of paper money in China disappeared for several hundred years. This was still many years before paper currency would reappear in Europe, and three centuries before it was considered common.

1500s: Potlach
"Potlach" comes from a Chinook Indian custom that existed in many North American Indian cultures. It is a ceremony where not only were gifts exchanged, but dances, feasts, and other public rituals were performed. In some instances potlach was a form of initiation into secret tribal societies. Because the exchange of gifts was so important in establishing a leader's social rank, potlach often spiralled out of control as the gifts became progressively more lavish and tribes put on larger and grander feasts and celebrations in an attempt to out-do each other.

1535: Wampum
The earliest known use of wampum, which are strings of beads made from clam shells, was by North American Indians in 1535. Most likely, this monetary medium existed well before this date. The Indian word "wampum" means white, which was the color of the beads.

1816: The Gold Standard
Gold was officially made the standard of value in England in 1816. At this time, guidelines were made to allow for a non-inflationary production of standard banknotes which represented a certain amount of gold. Banknotes had been used in England and Europe for several hundred years before this time, but their worth had never been tied directly to gold. In the United States, the Gold Standard Act was officialy enacted in 1900, which helped lead to the establishment of a central bank.

1930: End of the Gold Standard
The massive Depression of the 1930's, felt worldwide, marked the beginning of the end of the gold standard. In the United States, the gold standard was revised and the price of gold was devalued. This was the first step in ending the relationship altogether. The British and international gold standards soon ended as well, and the complexities of international monetary regulation began.

The Present:
Today, currency continues to change and develop, as evidenced by the new $100 US Ben Franklin bill.

The Future: Electronic Money
Digital cash in the form of bits and bytes will most likely become an important new currency of the future.

History of money tabular

Currency and Country Origin

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ADOPENGO: Hungary
AFGHANI: Afghanistan
AUSTRALE: Argentina
BAHT: Thailand
BAISA: Oman
BALBOA: Panama
BIPKWELE: Equatorial Guinea
BIRR: Ethiopia
BOLIVARE: Venezuela
BOLIVIANO: Bolivia
CEDI: Ghana
CENTAVO: Cuba, Guatemala, Nicaragua, Philippines
CENT: China, Sierra Leone, USA
CENTESIMO: Uruguay
CENTIME: Saar
COLON/COLONES: Costa Rica, El Salvador
CORDOBA: Nicaragua
CRUZADO, CRUZEIRO, CRUZADO NOVO: Brazil
DALASI: Gambia
DENAR/DENARI: Macedonia
DINAR/DINARA: Algeria, Bahrain, Croatia, Iraq, Jordan, Kuwait, Libya, Sudan, Tunisia, Yugoslavia
DIRHAM: Morocco, United Arab Emirates
DOBRA: St. Thomas & Prince
DOLLAR: Antarctica, Australia, Bahamas, Belize, Bermuda, Brunei, Canada, Cayman Islands, Cook Islands, E.Caribbean States, Fiji, Grenada, Guyana, Jamaica, Liberia, Malaya & British Borneo, Namibia, New Zealand, Rhodesia, Singapore, Solomon Islands, Trinidad & Tobago, Tuvalu, USA, Virgin Islands, Zimbabwe
DONG Cambodia, Laos, Vietnam, S.Vietnam
DRACHMA: Greece
DRAM: Armenia
DUCAT: Moldava
EKUELE: Equatorial Guinea
EMALENGENI: Swaziland
ESCUDO: Chile, Mozambique, Portugal
EURO: Some European Union countries
FEN: China
FLORIN: Aruba
FORINT: Hungary
FRANC: Algeria, Belgium, Benin, Burkina Faso, Burundi, Cameroon, Chad, Comoros, Congo, Djibouti, Equatorial African States, France, Gabon, Guadeloupe, Katanga, Luxembourg, Madagascar, Mali, Martinique, Monaco, Morocco, Niger, Rwanda, Saar, Senegal, Switzerland, Tahiti, Togo, Tunisia, West African States
FRANCO: Equatorial Guinea
FRANCS GUINEEN: Guinea
GOURDE: Haiti
GUARANI: Paraguay
GULDEN/GUILDER: Netherlands, Netherlands Indies, Netherlands Antilles, Suriname
HELLER: Austria
HRYVNI/HRYVEN: Ukraine
INTI: Peru
JEON: South Korea
JIAO: China
KAK: Cambodia/Kampuchea
KARBOVANTSIV: Ukraine
KINA: Papua New Guinea
KIP: Laos
KOBO: Nigeria
KORUN: Czechoslovakia, Czech Republic, Slovakia
KRONEN: Austria, Bohemia, Romania
KRONER: Denmark, Norway
KRONOR: Sweden
KRONUR: Iceland
KROONI: Estonia
KUNA: Croatia
KWACHA: Malawi, Zambia
KWANZA: Angola
KYAT: Burma/Myanmar
LARI: Georgia
LATI/LATU: Latvia
LEI/LEU: Moldova, Romania
LEK/LEKE: Albania
LEMPIRA: Honduras
LEONE: Sierra Leone
LEVA: Bulgaria
LILANGENI: Swaziland
LIRA/LIRE: Italy, Turkey
LIRA/LIROT: Israel
LIRI: Malta
LITAI/LITAS/LITU: Lithuania
LIVRE: Lebanon
LOTI: Lesotho
MAKUTA: Zaire
MALOTI: Lesotho
MANAT: Azerbaijan, Turkmenistan
MARK: Bosnia, Germany, Saar
MARKKA: Finland
METICAIS: Mozambique
MILPENGO: Hungary
MILS: Cyprus
NAIRA: Nigeria
NAKFA: Eritrea
NEW PENCE: United Kingdom (military issues)
NEW SHEKEL: Israel
NGULTRUM: Bhutan
NGWEE: Zambia
NOUVEAUX MAKUTA: Zaire
OUGUIYA: Mauritania
PA'ANGA: Tonga
PATAKA: Macao
PENCE: Falkland Islands, St. Helena
PENGO: Hungary
PESETA: Spain
PESO: Argentina, Bolivia, Chile, Columbia, Cuba, Guatemala, Guinea-Bissau, Mexico, Philippines, Uruguay
PESO ORO: Columbia, Dominican Republic
PIASTRE: Cambodia, Laos, and Vietnam, Egypt, Sudan
PISO: Philippines
POUND: Biafra, Cyprus, Egypt, England, Falkland Islands, Guernsey, Isle of Man, Jersey, Lebanon, Libya, Nigeria, Rhodesia, South Africa, St. Helena, Syria, England, Scotland, Northern Ireland, Isle of Man, Jersey, Guernsey
PULA: Botswana
PUNT: Republic of Ireland
QUETZAL: Guatemala
RAND: South Africa
REALES BOLIVIANOS: Bolivia
REICHSMARK, RENTENMARK: Germany
RIAL: Iran, Oman, Yemen
RIEL: Cambodia/Kampuchea
RINGGIT: Malaysia
RIYAL: Saudi Arabia, Qatar
RUBLE: Russia, Tajikistan, Tatarstan
RUBLEI: Belarus
RUBLI, RUBLU: Latvia
RUFIYAA: Maldives
RUPEE: Ceylon, India, Mauritius, Nepal, Pakistan, Seychelles, Sri Lanka
RUPIAH: Indonesia
RUPIE/RUPIEN: German East Africa
SCELLINI, SHILIN: Somalia
SCHILLING: Austria
SHILINGI: Tanzania
SHILLING: Biafra, Kenya, Somaliland, Tanzania, Uganda, England, Isle of Man
SHEQEL/SHEQALIM: Israel
SOLES DE ORO: Peru
SOM: Kyrgyzstan,
SUM: Uzbekistan
SUCRE: Ecuador
SYLI: Guinea
TAKA: Bangladesh
TALA: Samoa
TALONAS/TALONU: Lithuania
TAMBALA: Malawi
TENGE: Kazakhstan
TOLAR/TOLARJEV: Slovenia
TUGRIK: Mongolia
TURK LIRASI: Turkey
VATU: Vanuatu
TYIYN: Kyrgyzstan
WON: North Korea, South Korea
XU: Vietnam, South Vietnam
YEN: Japan
YUAN: China
ZAIRE: Zaire
ZLOTYCH: Poland

Appreciating/Art of Collecting World Paper Money

2006-08-21T00:47:00.000+08:00

This introduction reveals the basics of paper money collecting, including:

* the hobby's attractions

* why it is growing in popularity

* the fundamentals of paper currency collecting

* how surprisingly inexpensive it can be

* housing and displaying your collection

1.What are the attractions of collecting paper money?
2.The cost of collecting paper money
3.A theme for your papermoney collection
4.The profit potential of collecting
5.Where to obtain collectable paper money
6.How to get value for money when buying collectable banknotes
7.How important is the condition of a bank note?
8.Housing and displaying your collections

What are the attractions of collecting paper money?

2006-08-21T00:46:00.000+08:00

This exciting hobby is growing in popularity for many reasons. For one thing it’s becoming increasingly easy to find interesting and attractive banknotes from around the world, with great visual, historical and cultural interest - often for only a few pence each. A banknote collection can be a fine investment. Many notes have been growing quite dramatically in value over the years, sometimes even over a few months. Besides this, the hobby is a great educator. It has something to teach everyone, about foreign culture, history, economics - and much more. As communication technologies brings the ‘global village’ ever closer, it becomes ever more desirable to have a knowledge of foreign affairs and cultures. It’s amazing how much knowledge of this kind you naturally absorb while enjoying this hobby. But collectors also love banknotes for their rich visual appeal. Every banknote collection is most definitely an art collection - and one of growing value.

A banknote collection makes a powerful conversation piece which rarely fails to arouse interest and admiration. Even an inexpensive collection makes a fabulous display of some of exquisite pieces of printing and graphic design. An exceptional amount of work and skill goes into the design of banknotes by artists and engravers of outstanding skill and talent. The design and manufacturing process is a field of study in itself - but many of the methods used are shrouded in secrecy to make forgery difficult. Nevertheless, forgeries do occur and these are often worth more than the genuine article to collectors!

As collectors’ items, banknotes have distinct advantages over stamps and coins: They have a much larger surface area, creating more room for interesting information and attractive artwork. Compared to a coin, a banknote is extremely lightweight and thin, making a large collection much easier to store and transport. Over the postage stamp, the banknote has the advantage of having two sides, and again, a much larger surface area.

Banknote enthusiasts enjoy individualist status; the hobby is regarded as intriguingly different. It has a certain prestige attached to it; people tend to assume that a banknote collector must be well-off - but this is often not the because many attractive banknotes can be obtained for well under 50p each. The hobby has a refreshing dignity to it; the banknote collecting fraternity is generally an honest, friendly community, with a genial camaraderie born of a common interest.

The hobby is still much less widespread than stamp and coin collecting, although interest is growing every year. Many stamp and coin collectors are now considering banknotes as the promising new collecting frontier. The hobby holds many of the same pleasures as stamp and coin collecting: One gets the same thrill at finding that elusive item to fill a gap in a series or a set. There is the same reverence one feels for owning something that has been preserved in perfect condition for a hundred years. There is the same satisfaction of travelling to a collector’s fair to hunt down bargains and meet fellow enthusiasts and develop one’s knowledge.

The cost of collecting paper money

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The ever-growing availability of cheap and varied material from around the world has already brought the hobby well within reach of even those on the tightest budget. This is one collecting field where prices are actually falling in many areas, mainly where new issues are concerned. For this, we can thank the effects of inflation. In comparison to western countries, many countries have steep inflation rates, making their currency sink in value in relation to our own. Thus, their currency notes become ever cheaper for us to obtain. Some typical cases from recent years include Brazil, Peru, Argentina, Russia, Zaire, Iraq, Yugoslavia and Turkey. In fact, we can even obtain notes with denominations of 50,000,000,000 or more for a dollar or two! Another exciting source of very cheap notes has recently emerged: the new ex-Soviet republics. Here is an opportunity to obtain the very first issues of several new republics for mere pennies. One can only imagine the value these first issues will have to collectors in future years.

For under $1 each, you can obtain some beautiful, older notes from earlier this century - the golden age of banknote design. Germany and Hungary for example, both suffered runaway inflation in the first half of this century, rendering their banknotes less valuable than the paper they were printed on in some cases. Nevertheless, they were wonderful examples of the engraver's art. Even notes from the early 1700's can still be bought for well under $20 - the Assignat notes of the French Revolution, for example.

Conversely, well-off collectors world-wide, pay large sums of money for single rare notes. Sometimes this will be to fill a gap in a valuable collection. Sometimes it will be with a view to passing the item on to a fellow collector or dealer - for an even higher price. Collectable banknotes are one field where real bargains and quick profits can be made - if you know what to look for. Experience will soon teach you this.

A theme for your papermoney collection

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A banknote collection is an expression of its owner’s personal tastes and interests. There are no set rules regarding collecting themes; you can be as individualistic as you like. Some collectors specialize in notes from one country only - often their own. Some collect from groups of countries; British Commonwealth, Europe, or Africa, for example. Others collect notes from one period in history - WW2 for example. Others collect notes with some rare peculiarity, like those with printer’s errors. Some collect forgeries. The scope is limited only by your imagination. Many collectors start out just buying anything that happens to appeal. Some prefer to be more specialised. A specialised collection does have a unique appeal and can often be sold for more than the combined values of its individual components. However, the pitfall of becoming too specialised is that suitable material will be increasingly hard to find. But why not compile a specialised collection while simultaneously building a more general, free-style one? For more suggestions on thematic collecting see our Collecting Tips sheet No. 10 (free on request with orders totalling $40 or more).

The profit potential of collecting

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The investment potential of banknotes has been evident over the years. Some items have seen a growth in value of 10,000% since the end of the last war! American Confederate States notes, for example, could then be bought for about 25c each in the USA. Now, they are hard to find for 100 times that amount. Even the indiscriminate collector can expect profit in the long-run, for most banknotes tend to rise in value. Scarcity and demand are the chief factors that govern market values, and banknotes are only produced in limited numbers, so when production of each note ceases, the existing examples can only become increasingly scarce and therefore increasingly valuable.

Sometimes banknotes soar in value due to some historic or newsworthy event. For example, various European banknotes greatly increased in value where they were replaced with the new Euro currency. Hong Kong notes doubled or even tripled in value around the time of the Chinese take-over. Many alert collectors and investors anticipate these rises in value and realise big profits be buying up the notes before they rise in value. Remember the recent volcano in Monserrat? One month, Monserrat notes were just as desirable as any other East Caribbean State banknote. As soon as the volcano rendered the island uninhabitable, shrewd dealers and collectors world-wide bought every Monserrat note they could obtain, knowing that it was unlikely that any more would be printed.

If a banknote collector ever fall s hard of heel, he has a valuable nest egg in store, which he can sell at one of the specialist collectors’ auctions - often at an amazing profit. Many collections however, are passed on within the family - to a son, a daughter or a grandchild. Indeed, a banknote collection makes a superb family heirloom, for besides being a thing if monetary value, and a gold-mine of interesting information, it also conveys the spirit of the compiler.

Where to obtain collectable paper money

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Many people become interested in paper money after building a small collection of surplus notes left over from holidays or business trips abroad. Apart from this obvious source, old banknotes often turn up in antique shops, street markets, car boot sales, and ephemera lots at auction. Occasionally you’ll hear of a friend who has discovered a small bundle of notes in his attic, or an odd note in a book, placed there for safekeeping years ago, then forgotten. Most collectors, however, sooner or later start looking for a specialist banknote dealer. When selecting a dealer, your interests will be best protected if you select one who belongs to the International Bank Note Society (IBNS). This organisation has stringent rules and regulations and a strict code of ethics. Any member who breaks these can be expelled or penalised. If you ever have a grievance with one of them, you have a reputable organisation to seek redress with. Apart from that, you will want to consider a dealer on the basis of:

a) his prices

b) the accuracy of their grading (see the topic 'How important is the condition of a note')

c) the frequency of his price lists

d) the variety of notes offered

e) his general friendliness and helpfulness

f) whether his lists include descriptions and illustrations

g) how long it takes him to dispatch your orders.

How to get value for money when buying collectable banknotes

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Well-established dealers are usually more or less familiar with current market values, although their prices may somewhat. If you want to check that you are getting value for money, you will need a comprehensive and up-to-date reference book. The best of these is the Standard Catalogue of World Paper Money. This publication comes in three volumes. Volume Two covers national banknotes up to about 1961. Volume One is devoted to specialised issues (notes from private banks, regional notes, etc). Volume three is devoted to modern issues dating from 1961 approximately and is updated more regularly than the other two, to keep pace with all the new notes that are issued. Together, the three volumes list each of the 50,000+ banknote designs ever issued world-wide, along with illustrations and the current market values in each of three grades of condition. It should be noted, however, that no catalogue can be completely reliable as a guide to values. See our Collecting Tips Sheet No.6 for more on this subject. It’s free on request with orders totalling $40 or more. Values can change very quickly, especially when such factors as inflation are present. Nevertheless, the overall tendency is for banknotes to rise in value in the long run on the collectors’ market.

How important is the condition of a bank note?

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The condition of a note will affect its value dramatically. You should therefore familiarise yourself with the standard gradings of condition. Basically, they are as follows:-

'UNC' = 'Uncirculated' (perfect mint condition)

'XF' = 'Extremely Fine' (almost perfect - a single crease perhaps)

'VF' = 'Very Fine' (a few creases and folds, but no tears. Still fairly crisp.)

'F' = 'Fine' (well used - edge tears, discoloration, etc. Crispness may have gone.)

'VG' = 'Very Good' (well worn, with tears, dirt, pinholes, etc. Probably somewhat limp.)

'G' = 'Good' (limp, small pieces missing, very dirty, graffiti, etc.)

It is now common practice to use the letter ‘A’ prefixing these grades when the note described is ‘almost’ up to the indicated grade. For example an ‘AUNC’ or ‘AU’ note is almost uncirculated. In other words, it is almost perfect, with only the slightest fault, such as a bend, a very slight discoloration of the paper, or a tiny edge nick for example. However, it is too good to be classed as XF or XF+. The same strict grading standards apply, regardless of a note’s age. Some dealers wrongly think that very old notes are allowed a little flexibility of grading and will make such misguided statements as "It’s XF, considering its age". This is misleading; an UNC note has to be the same as it was when if left the printing press, whether it is 100 days old or 100 years old. Usually, an UNC note is worth at least twice as much as it would be in VF. This is because UNC examples are almost always harder to obtain than well-circulated ones. Unless your budget is unlimited, you will therefore have to make a choice between quantity and quality of condition at some stage. To help you better understand the grading of condition, see our Collecting Tips sheet No. 1. And for a better insight into how condition affects value, see our Collecting Tips No. 4 (both sheets are free on request with orders totalling $40 or more).

Housing and displaying your collections

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Use low-slip, inert album leaves, free from banknote-harming solvents. (Multi-Master leaves are excellent value.)
Keep your collection away from radiant heat, moisture and sunlight, in a safe place.
Keep it neat and uncluttered. If you have two or three notes on one page, centralise each exactly, for best effect.
Interleaves between pages add effect, helping the viewer focus on each page in turn.
Annotating your collection adds meaning, interest and value. Write or type your captions as neatly as you possibly can. If doing it by hand, a good quality black pen should be considered. Avoid blue biro! Centralise your text below the note. Include as many interesting facts as you like - it all adds interest - especially for those who are unfamiliar with the hobby. It will also serve to remind you later of the special features of each note.
Try to find labels that you can peel off your leaves without leaving a trace. Shop around; they do exist!
Organise your notes into logical groups, perhaps by country or in time sequence. It makes a better conversation-piece that way.
Consider including complementary items to add spice to your collections. Relevant newspaper cuttings, photos of issuing banks, and other forms of paper money, like promissory notes, cheques and travellers cheques, all add interest and value to your collection.
If you know in advance that someone will be viewing your collection, take time in advance, to go over it with a critical, objective eye, repositioning items where necessary.
Allow your viewer a chance to become absorbed. Although you will be keen to convey your own points of interest, remember, a thing of beauty can only best be fully appreciated in moments of undivided attention. When your viewer makes some comment reflecting his or her own points of interest, use that as a cue, and respond with some of your own interesting observations and anecdotes. Remember: some people tend to lose interest in anything that is pushed upon them too eagerly. Others, will be positively influenced by your enthusiasm. Remember that your banknote collection is a rare and important historical archive.
Don't be disheartened if your viewer does not seem to appreciate the beauty and fascination of banknotes. Most people do, but the hobby is not for everyone! That's why it's a good idea to include some items of almost universal interest. For example: WW2 items, 19th century items, British Commonwealth, hyper-inflation notes, and anything particularly scarce, unusual, exotic, and visually striking.