Collecting Paper Money
With no exceptions, those who issue paper money intend for the notes to have more monetary value than the cost of the ink, paper, and time it took to make them. There have been times when some governments, faced with run-away inflation, suspended the production of certain denominations of currency because the paper indeed represented more value than the monetary unit printed on it!Any form of circulating paper money illustrates an extraordinary faith by those who use it in the people who issued it. .

Banknote Oddities
Manufacturing banknotes is a demanding job. Just look at the error notes for sale throughout the world, and it is obvious that mistakes are made. However, not all errors are due to simple printing mistakes. Errors can be due to poor design, poor quality control, or the intervention of the hand of fate. Occasionally errors and mistakes are not quite as straightforward as one might expect. Errors in the text printed on banknotes are the most common design error on banknotes, and this type of error has occurred on many notes over many years. As long ago as the 1820s, the East Lothian Bank issued a 5-pound note that had ‘LOTHIAN’ misspelt as ‘LOTIHAN’. .

Understanding Obsolete Currency
One of the most interesting areas of American paper money is “obsolete currency”, roughly defined as privately issued paper money used in United States after the Revolution and through the Civil War. Starting in October, 2004, R. M. Smythe & Co. will begin a series of auctions featuring the Herb and Martha Schingoethe Collection of obsolete currency, containing nearly thirty thousand different notes. This represents a great opportunity for those who already collect obsoletes, and for those who would like to begin collecting something new and exciting. Understanding the material is the key to taking advantage of this great opportunity..

SMALL SIZE U.S. STAR NOTES
Collectors of U.S. Small Size currency have had stars in their eyes for decades, and for good reason. The best estimates of spoilage percentage early on in the small size era has been pegged at less than 1 percent. My friend Jim Hodgson has this figure more precisely averaged out to a current figure of 1.2 to 1.3%. This makes for some very low printings and slim chances for survival in the high attrition world of circulating paper money. There are exceptions, and all the figures in this article are approximate as there is no definitive census on Small Size star notes as a whole. There are some dedicated individuals who keep a star census in one collecting area, such as Federal Reserve Bank Notes, but information changes rapidly in this broad and interesting field of collecting..

The Notes of New Australia
One of the more famous incidents in Australia’s short history concerns the colony of New Australia in Paraguay. This colony, its development, and the departure of the colonists from Australia caused much discussion when it occurred during the 1890s. Although it remains a significant development in the social history of Australia, the colony of New Australia and its history are now rarely considered, except by students of Australian history and its society. However, the colony is of interest to numismatists, because paper money was issued in the colony. This study explores the reasons for, and the circumstances surrounding, the issue of paper money in New Australia...

The History of Scotish Banknotes
In most countries it is only the Government, through their central banks, who are permitted to issue currency. But in Scotland three Banks are still allowed to issue banknotes. The first Scottish bank to do this was Bank of Scotland. When the bank was founded on 17th July 1695 through an Act of the Scottish Parliament, Scots coinage was in short supply and of uncertain value compared with the English, Dutch, Flemish or French coin, which were preferred by the majority of Scots. The growth of trade was severely hampered by this lack of an adequate currency and the merchants of the day, seeking a more convenient way of settling accounts, were amongst the strongest supporters of an alternative..

Are small-size $5s coming into their own?
It is natural to start out collecting $1 notes – almost every U.S. collector has started with the lowest denomination. If the paper $1 is ever eliminated, though, it is likely that the $5 would suddenly receive more attention as the place to start a small-size bank note collection..

Paper money collectors enjoy hobby by knowing terminology
Anyone who's ever traveled overseas to a country where a different language is spoken knows that learning a bit of the language makes the journey much easier and more enjoyable. Collecting paper money is no different - know the language or the terminology and your collecting enjoyment quotient will rise in proportion. Some terms in this article will be very basic to advanced collectors of paper money.

Birds of a feather
Collectors can gather notes for numismatic aviary - Bird watching is a very popular hobby. It's estimated that upwards of 50 million Americans enjoy birds, ranging in their interest from the casual backyard viewer to the serious birder who travels great distances to see a rare bird..

Searching notes online, Cyberspace offers many resources
Imagine playing charades and you draw the card with "numismatic researcher." Would your mind conjure up the image of someone who spends hours paging through fragile books and records in the musty backroom of a state historical society? Or would you imagine a savvy 21st century technological wizard accessing a wide variety of Web sites for his research? .

Money talks: Know the jargon
Incomprehensible jargon may be the hallmark of a profession, as Kingman Brewster, U.S. ambassador to Britain said in 1977, but it needn't be a factor when collecting paper money. In any hobby, practitioners use a certain amount of jargon. Sometimes jargon is almost a foreign language, turning novices away from the hobby..

The British American Bank Note Company
The British American Bank Note Company was formed in 1866, just one year before Canada's Confederation. The company was established in Montreal by a group of engraving and printing craftsmen. Before the company's creation, two separate groups went ahead with plans to start a Canadian company that would engrave and print postage and revenue stamps, bonds and other financial documents, for the nation in waiting. These groups also recognized the opportunity to serve the bank note printing needs of Canada's chartered banks, which at the time had to go abroad for their paper currency requirements. With a rapidly growing economy, further opportunity existed in the printing of bonds, debentures and other securities for companies and municipalities. .

William Safire: Deflating the color of money?
WASHINGTON I have never seen the color of Mr. Baskett's money," the Scottish political pamphleteer Thomas Gordon wrote in his 1718 "Cordial for Low Spirits." The color sought was gold, or at least good silver, called white money, as against metal of baser quality, easily tarnished, called black money (which may be the source of blackmail). Then came the Civil War in the United States, with its shortage of metal for coins and distrust of currency issued by local banks. Lincoln's treasury secretary, Salmon Chase, took a chance on issuing "Legal Tender Notes" with green designs on their backs that turned out to be an ingenious way for the government to borrow from the people without paying interest..

JUST WHAT ARE COLOR TRIAL DIE PROOFS AND SPECIMENS EXACTLY?
The vast majority of banknotes (here referring to notes of exchange issued by governmental entities, governmental banks, private banks and even commercial firms) issued until the 1830’s were monochrome and printed on paper. Some of the notes had watermarks or imbedded mica or threads to assist in detecting counterfeits. Many note issuers used different color or sizes of paper for various denominations..

Many notes of the world depict sheep alone or in groups, with and without humans
Sheep provide food, shelter and a livelihood for many of the world's people. Domesticated since ancient times, sheep are raised for the wool, meat and the milk. Therefore, it's no wonder depictions of individual sheep and groups of sheep can be found on paper money from around the world, from Africa to Asia to Europe and even early paper money of the United States. .

WW I spawns emergency currency
Initially produced as an emergency substitute for coinage during World War I, notgeld served a multitude of purposes well into World War II and beyond. The word "notgeld" literally translates to "emergency money." The notes made their primary appearance in Germany in 1914.They were printed through the turbulent transition to the Weimar Republic, and during the period of hyperinflation over the next nine years, ending there in 1923. .

Searching notes online, Cyberspace offers many resources
Imagine playing charades and you draw the card with "numismatic researcher." Would your mind conjure up the image of someone who spends hours paging through fragile books and records in the musty backroom of a state historical society? Or would you imagine a savvy 21st century technological wizard accessing a wide variety of Web sites for his research? .

Animal magnetism - Assemble your own zoo with notes
If you have always dreamed of growing up on a farm or having your own zoo, you can simulate that without moving to the country or seeking a zoning variance. Paper money from around the world frequently features images of animals of all kinds. A quick check in the Standard Catalog of World Paper Money offers up notes featuring animal images from more than 100 countries..

Are small-size $5s coming into their own?
It is natural to start out collecting $1 notes – almost every U.S. collector has started with the lowest denomination. If the paper $1 is ever eliminated, though, it is likely that the $5 would suddenly receive more attention as the place to start a small-size bank note collection..

The Ballindalloch Note Issues of 1830
The history of note issues in Scotland is a complex and interesting story. The right to issue notes was for many years a common law right and many organizations and individuals were prepared to issue their own notes, hoping that they would circulate - some issued their notes successfully, others less so. Whilst most issues are well-documented, one of the more obscure Scottish issues is not - this being the note issues of the Ballindalloch Cotton Works. .

James Alexander Stewart Mackenzie Portrait of a private note issuer
This is the portrait of a Scotsman who issued his own one pound notes. His issue is quite well known to collectors of Scottish notes as it failed to gain acceptance, and there are now many remainders of his note available. Indeed had his issue succeeded we may have known less of him; but because of its failure we are given an opportunity to look at the man, his life and times, and the note issue. In addition we gain an insight into the reasons a man might issue his own notes at a time (1823) when private issues were rarely considered..

Mule Notes Offer Opportunity
Mules have always been interesting to me and over the years I have noticed that even some of the rarest mules can be "cherry picked," or bought from dealers who have not attributed them as mules. The best mule I know of that was purchased in this way was the unique 1928-E $5.00 Legal Tender, Star Note with back plate 637. This note was bought out of a coin shop for just $50..

IF YOU HAVE TO ASK HOW MUCH...
Sociologists and historians call it "zeitgeist." Translated from German, it means "spirit of the times." It is an expression often linked with the theory that even ordinary people can rise to an exceptional level of achievement when faced with great challenges or opportunities. In the late 1800s through the 1920s many people rose to greatness. Indeed, it was a period of extraordinary achievement, ranging from the birth of aviation, to personal fortune, to the emergence of the United States as a world power..

DISCOVER THE STARS
One of the joys of collecting paper money is the unlimited variety available - notes issued privately, by the U.S. Government, by foreign governments, governments in exile; even fake issues by con men and swindlers. Many issues are so esoteric that few people have ever heard of them. Within the widely collected field of our U.S. Federal issues there remains one series that most collectors know about, and even most people in the general public have at one time or another noticed but never learned about - Star Notes..

From BAD to worst: A tragic loss
One of the most fascinating and historic areas of numismatics is the field of national bank notes. Starting in 1863 and lasting nearly 70 years, banks across the country were permitted to issue notes with their names on them. More than 14,000 national banks were chartered (though not all chose to issue notes). Between the names of issuing institutions themselves and the great historical figures of banking and industry who signed many of them, astute collectors can hold a great piece of history in their hands for relatively moderate prices..

Prices and Rarity of 1928 Series Five Dollar Legal Tender Star Notes
The Legal Tender Fives have always held a special attraction to collectors and the less knowledgeable public. Whether you are attracted to the red seal color or the rarity and challenging pursuit of collecting this small size series in replacement Star Notes, almost everyone wants to tuck them in their “collection”. If you already collect seriously or if you wish to enter into the challenge the information in this article will help the novice and the expert deduce value and rarity..

All that Glitters ...
All that glitters is not gold ... especially when it comes to modern money. A close look at many banknotes issued throughout the world today will show that quite a few of them possess features that glitter. As the search for inimitable features are undertaken by security printers, devices that shine, sparkle and iridesce are becoming more common on banknotes. [Two Stardust threads of differing width on a note from Zaire.] The first modern device incorporated into a banknote to have reflective properties was the ‘Stardust’ security thread, which is also known as the ‘segmented thread’ or the ‘windowed thread’..

THE BANK NOTES OF YEMEN
FOR HUNDREDS of years, the principal form of currency in Yemen has been base metal coins, usually silver, and by the first half of the 20th century the main unit of currency was the Maria Theresa Dollar (MTD). The MTD was a coin containing four parts silver and one part copper, and had originally been issued by the Austrian Empire. It had gained great acceptance in the Arabian peninsula, as its high silver content satisfied the Arabs’ desire for base coins. Such was the popularity of this coin that the Yemeni currency units were made to be the same value as the MTD. The Imadi Riyal (as it was known during the Reign of Imam Yaha) and the Ahmadi Riyal (as it became known during the reign of Imam Ahmad) were equivalent to one MTD..

The Ephemeral Republic Of Kom-Ombo
On Thursday, 6 October 1994, it was announced in London that Spink's in association with Christie's of St. James will hold The W. Benson Collection and other Banknote Auction at Christie's Ryder Street Rooms between 10:00 and 14:00. Nine hundred and eighty lots covering some of the world's oldest and rarest currencies were expected to be sold to the highest international bidders..

PAPER MONEY OF AFRICA A COLLECTORS OPPORTUNITY
Change in Africa occurring at a blistering pace. Since 1957 when the first State received independence there have been more than seventy five coups resulting often in violent and illegal change. Collectors now have a wonderful opportunity as several of these notes have a resale value in excess of a thousand dollars in the banknote market. Heads of State are one of the best collecting options and are featured here..