Why Should I Collect Currency?
Even in the eyes of numismatists, currency is often overlooked as a collectible option. It is seen simply as a paper bill we put in our wallets and spend when we find something that interests us. We often do not think about the value old currency has, or the historical context the currency was born out of. Paper currency, not the bills tucked away in our wallets and purses, are every bit as collectible as bullion.
In some cases, it is more valuable given the context and rarity of some currency issues. There is a tremendous amount of history associated with currency that can drive the value of the currency and, by extension, your numismatic collection.
Currency has been around in one fashion or another since the start of the nation and there are tremendous benefits to owning these rare pieces in your collection. Obsolete currency and rare currency pieces vary across the board, but they all have history on their side. Here are examples of the kinds of currency that you can find:
LARGE TYPE U.S. CURRENCY
Large type U.S. currency has a long history that dates back to 1861. With this particular category of currency, you can find selections such as Gold and Silver Certificates, Federal Reserve Bank Notes and Federal Reserve Notes. The difference between Federal Reserve Bank Notes and Federal Reserve Notes is that Reserve Notes were issued by the U.S. Federal Reserve as opposed to the U.S. Treasury.
Large type U.S. currency never had their legal tender status revoked by the government, which adds to the collectible value of these notes. During the times these currency types were circulated, some of them were backed by Precious Metals (Gold Certificates or Silver Certificates). Others were backed by the U.S. government or municipal bonds.
SMALL TYPE U.S. CURRENCY
Much in the same vein as large type currency, these notes have a wonderful history. The small type U.S. currency is physically smaller than the large type but they pack a large amount of value to them. In an effort to reduce the cost of producing notes, the Treasury decided to reduce the size while maintaining the denomination value. Here you can find $1,000 Notes and $500 Notes. Multi-denominational Gold and Silver Certificates are also available.
The opportunity to enhance your collection can start with these currency notes. The varied history in these notes tells the story of war, necessity, Gold and Silver, economics and the United States’ place in the world order.
Collecting currency can be a satisfying experience because, like bullion, there is a large variety from which to choose. There were many driving forces behind creating U.S. paper money which makes each type unique in its own right. You can own a literal piece of history in your hands when you buy currency. With such a large variety to choose from, you can be as selective as you want.