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Consumer's Guide To Investing and Collecting U.S. Currency
Prepared as a Public Service By Treasures of Antiquity, Inc. with the United States Postal Inspection Service
INTRODUCTION
A BRIEF HISTORY OF PAPER MONEY
Our word for money is derived from the Latin word moneta, a word that
means to warn. This then became associated with the Roman Goddess Juno,
the goddess of warning and finances whose temple in the Roman Forum was
the site of the first Roman mint.
The issuing of paper money is believed to have originated in the T'ang
Dynasty of China about 650 A.D. This Fei'-ch'ien or so called flying
money was introduced to ease the carrying of large amounts of heavy coin
as opposed to the same value in paper. Some scholars feel the fei'-
ch'ien was simply a draft used by merchants, and that it wasn't until
1024 A.D. (the Song Dynasty) that the Chinese government officially took
over the job of actually minting legal tender paper.
U.S. RARE CURRENCY HAS BECOME AN EXPLOSIVE GROWTH INVESTMENT
Since the sale of the famous Grinnell collection in the mid-1940s, what
was once a neglected hobby has turned into a major and serious form of
investment. Over the past 43 years, select U.S. currency portfolios
have soared to 50 times their original value as compared to the Dow
Jones Industrials 19.5 times. From 1991 alone, a number of independent
sources substantiate an explosion in rare American paper currency
prices. For example, The Currency Dealer Newsletter reports that a
crisp, Uncirculated, 1861, $5 Demand Note, worth $4,300 in 1992, has
risen to $11,500 today. Or consider a Gem, Uncirculated 1899 $1 Black
Eagle Silver Certificate that could be obtained for $160 in 1992 is
currently hard to locate for less than $400.
The reason behind these continuing price movements is simply the law of
Supply and Demand. Currently, demand is far outstripping supply. The
actual rarity of this asset is difficult to imagine-only a limited
number of specimens have survived to this day. In addition, many of the
40 million U.S. investors in Tangible Assets are just starting to
investigate the rewards of rare American paper money. This escalation
in demand coupled with a fixed supply has been a defining factor forcing
prices upward.
DESPITE SEVERAL INDEPENDENT INDEXEX VERIFYING THE TREMENDOUS
APPRECIATION OF U.S. CURRENCY, DECADES OF PAST GROWTH CAN NOT GUARANTEE
FUTURE RESULTS. EVEN THOUGH RARE NOTES ARE LIMITED IN SUPPLY AND DEMAND
IS SUBSTANTIALLY INCREASING, NOT ALL CURRENCIES HAVE APPRECIATED AT THE
SAME RATE. NO REPRESENTATION CAN BE MADE THAT TODAY'S INVESTOR'S
PORTFOLIO WILL ACHIEVE SIMILAR RESULTS.
This purpose of this booklet, AN INTRODUCTION TO INVESTING AND
COLLECTING U.S. PAPER MONEY is to give the beginning investor or
collector a comprehensive guide to enter this exciting market. Aside
from their historical significance and artistic beauty, rare American
currency is also being used by many for wealth building and portfolio
risk management. Regardless of one's primary intent, both groups
acknowledge these notes as a link to their past and an endowment for
their family's future. Which ever your path, as an investor or a
collector, this booklet will be a definitive guide helping to form the
framework of your success.
Chapter 1
AMERICAN PAPER MONEY
BEFORE THE CIVIL WAR
COLONIAL PAPER MONEY (1710-1775)
In desperation and needing to fund the new war with the French Colonies
in Canada, an impoverished England first authorized the Massachusetts
Bay Colony to print Bills of Credit in 1690. Thus, gradually in
pre-Revolutionary America, each colony began to print its own form of
currency. The first was issued by Rhode Island in 1710 with the other
Colonies following suit up to the Revolutionary war. It is from these
Bills of Credit that today we derive the term bill in reference to
individual pieces of money.
CONTINENTAL CURRENCY (1775-1782)
To finance the American Revolution, and because the Colonies were
powerless to tax, the Continental Congress authorized the first actual
American Currency on May 10, 1775. Not having bullion backing and
easily counterfeited, continental notes were worth only 2 1/2 cents to
the dollar in 1780. Thus began the phrase, not worth a Continental.
In 1791 Congress chartered the First Bank of the United States. This
organization was empowered to serve as the U.S. Treasury's monetary
agent until 1811 and carried the primary functions of today's Federal
Reserve. As a single issuing source, its primary goal was to stabilize
the nation's debt structure and simplify trade. A year later in 1792,
the first U.S. Mint was created in Philadelphia.
VARIETY NOTES (1770-1866)
By 1836, banks in the United States had swollen to over 1,600 in number.
With scant regulation, these state- charted, private banks ran wild
issuing over 10,000 Variety Notes of various design, color and size.
Known by a number of names, Obsolete Notes, Broken Bank Currency, State
Bank Notes or Private Bank Notes, not only was counterfeiting relatively
easy, but the entire system was further complicated by rampant bank
failures.
Chapter II
LARGE SIZE U.S. CURRENCY (1861-1928)
DEMAND NOTES (1861)
During the Civil War, both the North as well as the South developed
their own currency. Ripped apart by war and teetering on bankruptcy,
Congress ordered the printing of a number of notes. These Large Size
Notes were commonly called horse blankets because of their dimensions.
Issued from 1861 to 1928, their original size was approximately 7.42
inches by 3.13 inches. Cost cutting measures have reduced today's note
to the more familiar 6.14 inches by 2.61 inches. Demand Notes or
Greenbacks, minted only in 1861, represent America's first type of
Federal Bank money.
LEGAL TENDER NOTES or U.S. NOTES (1861-1928)
Also referred to as United States Notes, these were issued from 1861 on
into the 20th Century. Denominations ranged from $1 to $10,000.
INTEREST BEARING NOTES (1861-1865)
The rarest of all U.S. Notes, the Interest Bearing Note paid regular
rates of interest as well as the note's stated value for a period of
one, two or three years. With the Civil War raging, it is no wonder
that once a bill became due and payable it was immediately redeemed,
taking it out of circulation forever.
NATIONAL BANK NOTES (1863-1928)
In 1863 there still was a problem in stabilizing the value of our
currency. Since over 75 percent of all bank deposits were held by
nationally charted banks, national Bank Notes backed by U.S. government
securities came into being. This lasted until 1928.
COMPOUND TREASURY NOTES (1864-1865)
From 1864 to 1865, the United States minted a note that not only paid
its face value but also a rate of 6% interest that was compounded twice
yearly.
GOLD CERTIFICATES (1865-1922)
To shore up and create greater confidence in our currency, Gold
Certificates were issued against U.S. gold holdings by the Department of
the Treasury from 1865 until 1922. These are the most colorful and
brilliant currency ever minted in America. Their reverses are a vivid,
flaming golden orange symbolic of the coin for which they were created.
SILVER CERTIFICATES (1878-1928)
Beginning in 1878 and continuing through seven series, Large Size Silver
Certificates stayed in circulation until 1923 with the smaller size
remaining until this day. The Government stopped redeeming them for
silver bullion on June 24, 1968.
REFUNDING CERTIFICATE (1879)
To build confidence in our nation and to strengthen our government
securities, Congress passed the Act of February 26, 1879. This granted
the authorization of issuing Refunding Certificates of a $10
denomination with an additional interest payment of 4% per annum. The
act was later repealed and interest payments ceased on July 1, 1907.
TREASURY NOTES (1890-1891)
Also called Coin Notes, Treasury Notes were issued from 1890 to 1891 and
were redeemable in either gold or silver coin.
FEDERAL RESERVE BANK NOTES AND FEDERAL RESERVE NOTES (1915-1918)
Backed by government securities, Federal Reserve Bank Notes were issued
from 1915 to 1918 and are thought by many to represent one of the
highest art forms in American Currency. Also issued in denominations
from $5 to $10,000 under the same Federal Reserve Act, Federal Reserve
Notes have an important dissimilarity. These were notes not issued by
the banks themselves as were the Federal Reserve Bank Notes.
Consequently, the obligation to pay the bearer was strictly on the
government and not the banks.
Chapter III
SMALL SIZE CURRENCY
A CHANGE IN SIZE
Starting with the reduction in currency size in 1929, the United States
Government has minted over 1,200 issues of currency - Legal Tender
Notes; Silver Certificates; National Bank Notes; Federal Reserve Notes;
World War II Emergency Notes; Gold Certificates; and Military Payment
Certificates. Many of these varieties are being printed yet today.
Chapter IV
WHAT DETERMINES THE VALUE OF A NOTE?
RARITY
Rarity in its normal usage is an indication of the quantity in
existence. This coupled with the state of preservation are the primary
considerations determining the value of a note. In notaphilistic terms,
the rarity of a note has more specific meanings, such as-
(1) COMMON - common is a term notaphilists use to describe an easily
obtainable note. This is something that is available without
requiring much effort in its location;
(2) SCARCE - this is often a common note which is infrequently seen and
cannot be instantly obtained from most dealers. This type of note
is most frequently seen at currency shows or auctions;
(3) RARE - the designation rare is often overused by a number of
dealers. To be truly rare means that this type of note has surfaced
only a few times in a year at public auctions.
(4) VERY RARE - very equates with the word ultra. Here is a note that
may only come into public view once every decade; and
(5) UNIQUE - means only one example known.
A NUMERICAL RARITY SCALE
In a more defining sense, rarity has been given a numerical rating.
* means the rarity is unknown
R-10 1 to 2 notes known
R-9 3 to 4 notes known
R-8 5 to 6 notes known
R-7 7 to 9 notes known
R-6 10 to 12 notes known
R-5 13 to 15 notes known
R-4 16 to 20 notes known
R-3 21 to 35 notes known
R-2 36 to 50 notes known
R-1 over 50 notes known
Source: Bank Note Reporter'; Vol. 24, No. 5; p. 6; Author,
Ken McDannel
STATES OF PRESERVATION
Aside from rarity, the physical condition is one of the most important
issues in determining the value of a note. As an example, A Very Good
note will command a much lesser price than one which is graded, Fine or
Very Fine. In determining the state of preservation, a number of
factors are taken into consideration. Above all else, eye appeal is the
most important. A few of the other factors are: folds; creases;
accumulated dirt; a rippling of the paper due to moisture absorption;
fading; tears; stains; edge trimming; large holes; foxing; damaging
thins; cuts; the effect of washing; rust stains; missing pieces; staple
perforations; foreign matter stuck to a note; and graffiti.
Here is a brief discussion of how these factors determine a specific
grade.
1. GEM CRISP UNCIRCULATED (GEM CU) - A Gem Cu is a virtually flawless
note, perfectly centered, balanced margins and as crisp as the day
it was minted. It can have no evidence of handling, no surface
marks acquired after printing, no folds, no pinholes, no ripples or
bent corners.
2. CHOICE CRISP UNCIRCULATED (CH CU) - This is not an absolutely
perfect specimen. It may be slightly off- centered, but still with
nice margins, have tiny foxing, slight smudges such as teller
handling marks or tiny pinholes if only visible through inspection
with black lighting. It must be of original color with no major
stains, no rippling and no bent corners.
3. UNCIRCULATED (UNC) - Plain Uncirculated is often the highest grade
given by dealers to a foreign currency. Uncirculated does not mean
that a note has never been in circulation or handled. Rather it
points to the fact that the currency has not been folded and shows
no evidence of mishandling as is common with notes with daily trade
use.
4. ABOUT UNCIRCULATED (AU) - About or almost uncirculated notes may
have one light fold through the center or several light corner folds
that pass through the printed or design area. It may have no
creases or breaks in the paper fibers, the corners may not be
rounded, but may or may not have small pinholes, small stains,
slight smudges and or a rippling effect.
5. EXTREMELY FINE (EF OR XF) - This note may contain three light folds
through the primary body of the note or one major crease with the
corners and edges still sharp. However, it must still be crisp,
clean and with bright colors. It may not have major stains or
tears.
6. VERY FINE(VF) - Collecting or investing in this or lower, less
preserved notes may not benefit the purchaser. With extremely fine
there may be three major creases or one major crease and a number of
lighter creases throughout the note. In addition, it may have on it
some dirt, loss of crispness is acceptable as well as a slight
rounding of corners and gently faded colors. In addition it may
have edge wear, but no tears into the border.
7. FINE (F) - This bill may have many folds and creases, tiny surface
abrasions, but no center hole due to folding. It also may have
staple holes, slight faded color, but may not be excessively dirty.
Also it may bear no serious tears, stains, major holes or missing
corners.
8. VERY GOOD (VG) - Here you have significant wear, faded color,
soiling, rounded corners, edge tears (not into the design), staining
pinholes and staple holes. There can be no missing pieces, nor can
it be limp, wrinkled or excessively dirty.
9. GOOD (G) - The term Good in the grading of paper currency is almost
the opposite as its use in normal, everyday language. It means very
limp, tiny holes at the crease intersections, small missing pieces
of the main note and missing corners even if slightly entered into
the print design area. It also may contain major stains, graffiti,
frayed margins, surface abrasions along the creases and so forth.
10. POOR - This is the lowest determination of a grade. It represents a
bill that is severely damaged with large pieces missing, excessive
surface wear, large holes, major stains, trimmed edges and graffiti.
This type of bill is instantly withdrawn from any bank in which it
finds itself.
TRACKING THE VALUE OF NOTES
There are a number of indices that track the value of rare U.S.
currencies. The most current prices are those derived from currency
auctions. While normally reflecting wholesale value, these are valid
from the moment the gavel hits the table. It is common practice for
auction houses to furnish, upon request, a full printout of all
currencies sold at that proceeding.
For retail figures, one of the most comprehensive and reliable sources
is Robert Friedberg's PAPER MONEY OF THE UNITED STATES. By many, this
has been considered the bible or bench mark of current values. For over
43 years, the Friedbergs have been doing an extraordinary job of
forecasting all major traded U.S. currencies at their various grades.
However, in a fast moving market, many listed prices may be
substantially less than actual current market value.
Chapter V
RISKS OF THE CURRENCY MARKET
COUNTERFEITING
Due to the extreme vigilance of the U.S. Secret Service, counterfeiting
is virtually non-existent in rare notes from 1861 to 1928. However, it
does occur in some Colonial, pre-Revolutionary, Confederate and Broken
Bank Note Currencies. This does not mean that these should be avoided.
Rather this is a primary reason to deal only with large companies, and
only those who hold a fidelity or honesty bond (see page 18 for
definition).
SPECIFIC RISKS
1. ALL COLLECTIBLES ARE SUBJECT TO CHANGES IN ECONOMIC CONDITIONS. Rare
collectable currency is no exception. If America were to experience
a serious economic turndown, the market for U.S. collectable notes
could be adversely affected. Even with their historical pattern of
growth, no assurance can be given that an investor will be able to
liquidate at a value higher than the original purchase price.
2. LIQUIDATION IS NOT INSTANTANEOUS. As in the Equities Industry,
currency must be taken back into the market and either sold to your
dealer, placed on consignment and sold to a dealer's clientele,
liquidated at auction, sold privately or at a currency or numismatic
convention. While the possessor of currency has a liquid commodity,
its sale is seldom instantaneous.
3. PAPER NOTES ARE DELICATE IN NATURE and can be easily destroyed or
devalued. Direct sun exposure, moisture, handling out of the
holder, odors, excessive dust, etc., all can devalue or even destroy
your currency.
4. GRADING RISKS - the value of a note depends not only on the number
in existence, but its state of preservation or grade. Minor
differences in appearance can also affect the value of a note and
its liquidation potential. And while grading is not difficult to
learn, it is a subjective process and there may be disagreement from
one party to another. This is another reason for dealing only with
the largest of firms who have a specialty in the Currency Field.
5. MARKET CYCLES ARE ANOTHER AREA OF RISK. Currency as with other
commodities can experience periods of volatility. These rapid
increases and decreases in value cannot be accurately predetermined.
For this reason one should be prepared to hold their portfolio for a
minimum of 5 to 7 years.
6. STORAGE TRANSPORTATION AND EXHIBITION RISKS - due to the delicate
nature of paper currency coupled with their liquidity as an asset,
effort must be taken to insure proper and safe storage as well as
transportation.
7. THE CURRENCY MARKET IS NOT REGULATED BY THE U.S. GOVERNMENT and is
not subject to the scrutiny of the Security and Exchange Commission
or Banking Laws. Like rare art and antiques, currency sales are
controlled by general law rather than those imposed upon a specific
industry. As a result, the investor protection benefits of
governmental regulation afforded to other type of investment are not
applicable.
8. PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS. In addition,
some notes have performed much better than others. For that reason,
there can be no assurance that an individual portfolio of notes will
be profitable. Regardless of one's enthusiasm based upon anticipated
return, the Currency Market is unregulated and like all investments,
contains elements of risk. Currency Investors and Collectors should
be prepared for the possible loss of some or all of their
investment. Any investment has both positive and negative
qualities. It is for this reason that a potential purchaser is
recommended to review these points carefully. As an example, while
the market has recently made considerable gains in growth, there can
be unexpected downturns. Therefore, investment in this asset is not
suggested for those who seek current income but rather long term
appreciation or enjoyment.
Chapter VI
HOW TO BUY AND SELL U.S. CURRENCY
BUYING FROM AUCTIONS
Circumventing a dealer and purchasing directly from auctions is one of
several options available to anyone interested in acquiring currencies.
As with any method, there are both advantages and disadvantages when
attending an auction. First the advantages - you often find a higher
quality and scarcer variety of notes at auction than you will at a
currency convention; prices, providing you don't over-pay, normally
reflect true market value; the currency often comes with provenance
(pedigree); and in selling you may be able to state that a particular
note came from someone quite famous.
There are several disadvantages of buying at auction. The first is
getting caught in a bidding frenzy and paying far in excess of what a
note is worth. Another serious problem is that unlike buying through a
reputable dealer who offers a return privilege after the sale, most
auction sales are final. There can be no buyer's remorse. The lack of
return privilege also surfaces should you make a mail order purchase
based upon a catalog description and after inspection find that you are
in disagreement.
BUYING AT A CURRENCY OR NUMISMATIC CONVENTION
Another avenue of purchase is to acquire notes at currency and rare coin
conventions. As with the auction, if one is aware of the various grades
of quality and the general pricing, the bourse (the name given to the
transaction area) is an excellent place to acquire rare currency.
Unfortunately, until he or she is better educated, the novice may pay
far in excess of the actual worth of a note and or be persuaded to
acquiring a less than desirable grade of product. Note, most dealers do
not offer a return privilege for notes bought on the bourse floor at
conventions.
CHOOSING A BROKER - THE MOST IMPORTANT CONSIDERATIONS
EXPERIENCE AND SPECIALIZATION
While the number of years a dealer has been in business is used by many
a consumer as THE yardstick in selecting a broker, that is not nearly so
important as their EXPERIENCE and SPECIALIZATION. Seek major,
international companies that have years of specific experience in the
Currency Industry. This type of firm normally has several advantages:
In-depth educational programs; individualized service; greater financial
stability; and very importantly, competitive pricing due to their power
to buy in quantity.
EDUCATIONAL PROGRAMS
Beware of firms offering little or no written information about
themselves and their product(s). This does not mean that big and glossy
is better. Make certain that the information is there and that it hits
all the notes - location of business; specialization in the industry;
steps in purchasing; what additional services and educational programs
they offer; how to independently track the value of your notes; steps of
liquidation; and what to do if you are dissatisfied.
AVOIDING HIGH-PRESSURE TELEMARKETERS
Telephone solicitation is acceptable ONLY if it falls within certain
guidelines. Beware of firms that approach you without your having
requested them to do so. Note that new Federal guidelines prohibit
telemarketing companies from contacting you later than 9 P.M. Ask for
literature and the time to make an informed decision.
A FIDELITY BOND GIVES YOU SAFETY
A Fidelity Bond is an assurance that the currency you receive is of
equal or greater value than the money you sent for its purchase.
Likewise, when you offer your currency through a broker for liquidation,
the insurance company guarantees you that you will be receiving cash
back equal to the liquidation price. It is perfectly acceptable to ask
your broker for the name and phone number of his bonding company. In
this way you can verify that the bond is both valid and current.
AVOID A GUARANTEED BUY-BACK
Many investors and collectors have been disappointed finding the company
guaranteeing a buy-back was not financially capable of doing so. Often
this well-meant but empty promise has been given by even the sincerest
of companies. In any commodity where there is an investment opportunity,
there are market cycles. Upon a major drop in market value, a tidal
wave of sellers come crashing down on a company demanding to liquidate -
few but the largest firms are financially capable of standing against
this mountain of sellers.
A better alternative is to search for a company that guarantees to
liquidate your currency rather than promising a buy-back. As with stock
brokerage houses, a dealer can easily liquidate your currency through a
number of options - either to its own client base, at auction or even at
a currency or coin convention.
CURRENCY RETURN PRIVILEGE
It is best to deal with those firms who offer a return privilege after a
sale. This is the time period given to a customer where he or she may
return the currency for what ever reason and receive a no questions
asked refund - two weeks is a reasonable period. The reader is
cautioned to return the merchandise in exactly the same condition in
which it was purchased.
TAKE A CONSERVATIVE APPROACH
Look for a dealer who spends the time to educate and is not pressuring
for a fast sale. Avoid those who promise quick riches, talk in
confusing terms without taking time to explain and want a fast decision.
Currency investing can be quite rewarding if the proper relationship is
developed with a legitimate broker.
PRICE LISTS THAT ARE TOO GOOD TO BE TRUE
While most currency dealers maintain a high standard of integrity, the
novice is advised to use common sense - where the purchase prices are
values below recent auction levels; where the dealer is not bonded; and
if there is either no return privilege or the time is too short.
TEN WARNING SIGNS
Unsolicited sales presentation
Little or no literature
Unsubstantiated or exaggerated claims of historical currency
performance.
Suggesting that you place all of your investment capital in
currency.
Failing to explain the risk factor of such an investment.
Not having a Fidelity bond guaranteeing the security of your purchase or liquidation.
Guaranteeing a buy-back of your portfolio when a major sell-off
would make that capability unlikely.
No written return policy or one that is too short if you are
dissatisfied with your purchase.
A price list that is too good to be true with little or no return
privilege period.
Giving unclear answers to specific questions.
SEVEN THINGS TO REMEMBER
1. Be comfortable with your selection of dealers and more important
with the specific person handling your account. Ease in discussing
one's financial situation is critically important.
2. Currency purchases should be made with discretionary income. Make
certain all of your primary financial needs are covered before
venturing into this arena.
3. Never invest more than you can lose.
4. Review the dealer's literature carefully. Write down and ask any
question that is unclear.
5. Do not hesitate in checking the dealer's prices with AN INDEPENDENT,
THIRD PARTY.
6. Get the dealer's guarantee in writing.
7. Be prepared to hold your investment for a minimum of 5 to 7 years.
WHAT TO DO IF YOU'RE DISSATISFIED
Refer to your return privilege. If within the time frame and you are
dissatisfied, simply return the item(s).
If past the time of return, examine the overall guarantee to see if it
applies.
Contact the dealer immediately to see if a resolution can be
forthcoming.
You may also contact-
the American Numismatic Association in
Colorado Springs, Colorado;
The Industrial Council For Tangible Assets; or
if your currency was purchased by U.S. mail, the local
Postmaster.
Chapter VII
HANDLING, VIEWING, STORING AND SHIPPING YOUR CURRENCY
HANDLING - here are the general steps in handling a note.
1. Begin by washing your hands.
2. Handle the note in a clean area devoid of drinks and food.
3. If the note is encased in a plastic holder and you want closer
examination, take it out ever so carefully. Do so when time is not
a factor.
VIEWING -
1. Use a strong incandescent light of 100 watts or greater. Florescent
lighting and natural outside lighting are not strong enough for a
proper examination.
2. Observe both sides of the note with back light shining through. This
would show you most obvious defects and paper folds.
3. Rotate the note at different angles to see minimum defects or the
rippling effect.
4. Look at the edges to see if they have been trimmed. Do you have
clean, perfect edges on a worn note?
5. Next, lay the note flat on a surface. If it waves then is this from
natural humidity or washing and ironing?
STORING -
1. It is recommended that all notes be encased in a hard plastic holder
for ease of handling, viewing, storage and shipping. As mentioned
under handling, a note may be removed, but ever so carefully.
Currency holders may be obtained from:
CAPITOL PLASTICS, INC.
628 North Erie Street, P.O. Box 543
Massillon, OH 44648 (216) 832-4287
2. Store your notes vertically, in a plastic protective box in an area
free of light, chemical odors and moisture. Do not use a cardboard
container for storage since it can give off chemicals and dust that
will effect the longevity of your note.
SHIPPING -
1. Each note must be encased in its individual, hard, plastic holder.
2. Insulate each note well - many use bubble wrap.
3. Always use a rigid box for shipping. For the short duration of
transit, cardboard acceptable. Be certain that the box is new or
does not contain any unusual odors from prior contents.
4. The United States Postal Service is the most often used form of
transportation. Overnight shippers such as Federal Express, United
Parcel Service, etc., will not allow the shipping of currency.
5. Always ship Registered, Insured with a Return Receipt that shows who
signed for package.
SUMMARY
HISTORY -ART - AN INVESTMENT IN THE PAST - A LEGACY FOR THE FUTURE
Investing and collecting Rare U.S. Currency can be one of the most
enriching endeavors that a person can undertake. As a passport to United
States history, this is a field that is relatively easy to learn and
could soon involve the entire family.
That few people collected this type of currency when it was first minted
combined with the tendency of paper to deteriorate if improperly handled
makes for exceedingly limited numbers of notes in higher quality.
Remember the admonition, quality over quantity? Starting your program
today suggests that a broader selection of notes at a higher quality
should be available than if you begin sometime in the future.
Last Updated Wednesday, May 19 2010 @ 10:50 AM EDT
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