Today, collecting paper money from around the world (also known as banknotes) is gaining in popularity. With a little imagination, a foreign banknote in your hand can take you on an flight of fancy around the world. Fasten your seat belts, here we go with this week’s website picks.

Collecting Paper Currency for Fun

Cael Chappell has been collecting banknotes for fifteen years, and has written an excellent introduction to the hobby. His first piece of advice is to collect for fun, not for profit. Second is to choose the type of collection you want. Do you want to specialize in a particular continent or country? Or collect banknotes with specific images such as birds or trains? Many collectors strive for a collection that includes a banknote from every country that produces paper money. Another of Cael’s invaluable pages is Anatomy of a Banknote, which explains the terminology of paper money.

Department of Treasury Learning Vault

Every day the U.S. Bureau of Engraving and Printing prints approximately 22.5 million paper notes in denominations ranging from $1 to $100. This page answers Frequently Asked Questions such as “What is the largest denomination ever printed?” Answer: “$100,000 Gold Certificate of 1934 featuring the portrait of President Wilson. This note existed only for official transactions and none of them ever circulated outside Federal Reserve banks.”

Foreign Currency

Randy Johnson says he is “not a serious collector,” but simply starting picking up paper money as he travelled. His online collection from twenty-seven countries is a “feast for the eyes” with samples “chosen not for their value or rarity, but only for their beauty and interest.” Each of Randy’s scanned banknotes is accompanied by his description. After looking at this collection, you might start wondering, as I did, what line of business takes Randy to all these foreign locales. Making a living as a computer programmer, Randy has spent ten of the last twenty years living overseas.

Initially, an individual should start collecting a broad range of stamps, in order to give themselves an opportunity to see what types of designs are available. It is important for collectors to develop their own taste and build a collection based on personal preference. Otherwise, they may not enjoy the collection to its fullest.

The Internet is a great place to find stamp collections for beginners. By purchasing a stamp price book, those new to the practice can start exploring basic values. It can also be helpful to connect with other collectors, whether through community groups or online. A little bit of guidance goes a long way.

On-paper stamps, which have been cut from an envelope or another form of paper, are glue-based. Many experts suggest leaving the stamp on the paper unless it will be sold or used for some other purpose, since the extra strength of the paper will help to protect it from bending or tearing.

If the stamp needs to be removed from the paper, extreme caution is required. After the edges have been trimmed of excess paper, the stamp needs to soak in clean water for about fifteen minutes. While stamp ink does not often run, dye may be released from the paper itself, so it is important to watch for changes in the water color. Self-adhesive stamps can be easier to remove but require more soaking.

Stamps should be stored in a clean, dry place, such as a shoebox. Once the value of the collection starts to increase, specially-designed tongs should be used when handling. Stamps should be transferred to a collectors’ album and inserted individually, not back-to-back. Humid locations, such as basements, should be avoided in order to prevent damage.