Some may imagine stacks of rare, significant coins as the only form of money collecting, but that couldn’t be further from the truth. Collecting paper money can be just as rewarding and fun, revealing a treasured global history equal to coin collecting.
Paper Vs. Coins
Money is money, right? While that may be true in the technical sense, there are some material differences between paper and coin money that can’t be overlooked. While coins may only slightly fade or degrade over time, paper money is fragile and easily damaged. Coin and currency dealers frequently assess paper currency “grades” that vary according to its condition, noting any visible damage such as tears, ink inconsistencies, or folds. These factors can contribute to a depreciated value or lower appraised value. Therefore, it’s vital to make sure paper money is stored in proper cases to prevent devaluation.
Paper Money’s Value
Much like coins, the value of paper money stems from its age, rarity, historical significance, and demand. Demand and prices of paper currency can rise and fall as the popularity of certain collectibles change. A crucial beginner’s tip: uncirculated notes are worth more than circulated notes. Large-size silver certificates (those produced from 1878 to 1923) can be quite valuable. These notes were redeemable for their face value in silver dollar coins or raw silver bullion. Also, try searching for U.S. Legal Tender Notes, a valuable slice of money’s extensive and fascinating history. As with the silver certificates, large-size U.S. notes tend to carry more value than the more recently issued small-size bills. The U.S. Treasury stopped producing U.S. Legal Tender Notes in 1969.
How to Start Collecting
The idea of collecting paper money may seem overwhelming at first due to the seemingly endless avenues of collection. Collectors are encouraged to find the types of paper money that interest them and explore from there. One could create an entire collection of bills from a favorite historical era, specific issue types, or even expand to international bills. Most importantly, take into consideration whether the collection will be for personal pleasure or as an investment.
Paper money and coin collecting can both be rewarding and profitable ventures. To meet our expert coin dealers and get started, schedule an appointment with Atlanta Gold & Coin Buyers today! We’re also more than happy to help determine the value of your current paper currency collection. We offer flexible hours for appointments with both weekends and evening time slots available.