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Topic: New to collecting  (Read 5821 times)
keunganator
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« on: June 04, 2006, 07:05:49 pm »

Hey,

Just wanted to say hi to everone, iv been lurking this forum for the past while, prob 12 months, and have finally decided to join.

Im relatively young in terms of age and in terms of collecting notes, and id say my best notes are probably the $20 bird prefixed AIW with serifs, which i have 3 of in UNC condition, i beleived i had like 5, but i spent 2 of them of arcade when i was younger and didnt know the value of it. Id use to trade my dad for UNC notes hed get from the bank or w/e with my crummy nasty looking circulated bills from like redpocket (im chinese) or whatnot cause i thought UNC notes were cool.

Anywho, as a young individual looking to possibly expand my collection, what manner should i do this in? Im aware of money to be made through the purchase and sale of notes which also kinda gives me a purpose. Right now i store my notes in a currency plastic sleeve, but wanna store in it in a binder in one of those sleeves where you can put 3 notes on (kinda like putting hockey cards in sleeves). Where can i find them for a relatively cheap?

Also, iv been hoarding any UNC money i get and just stash them away for a year, to see if any value increases in the notes? is this a good idea?

any advice you guys can give to a newbie would be helpful thx.
hanmer
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« Reply #1 on: June 04, 2006, 08:15:01 pm »

Welcome to the board. I too am very new to this hobby as well. This is a great place to get information and tips from folks who have been doing this for a while. No such thing as a stupid question here. The Trading Post is a good place to get good quality notes at fair prices. UNC notes usually fetch a bettter than face value price on E Bay, and if you happen to keep the right ones then it's even better. Check out http://wiki.bwjm.ca/index.php?title=Main_Page

A great resource too find out what prefexes in new notes are change overs, inserts, etc.

Welcome.

 [smiley=beer.gif]

:)
walktothewater
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« Reply #2 on: June 04, 2006, 10:30:50 pm »

Welcome to the CPM forum.  Always nice to see "new blood" joining the ranks of paper money collectors in Canada. As Hammer says - you'll find this site informative, the more you read the more you'll learn.

There are so many different ways to collect paper money.  This is something I've always been fascinated with just as much as the hobby itself-- that is how people tend to classify, organize and collect notes.

Lots of collectors start out by collecting denominations of each series.  In world paper money collections, it is commn to have a collection according to themes (eg: "Birds" "QE II" Vehicles, Industry, wildlife, etc).  Other collectors collect certain denominations ($1.00 or fractionals).  

Eventually advanced collectors seek rarer notes so they tend to collect signature (or year) change-overs, short prefixes, replacements & test notes.  Other serial number collectors love radars, or special types of serial numbers.  Radars, or palindromes, are notes with numbers that go from solid eg 1111111 to 2 digit 1212121 to 3 and 4 digit 3420243.  There are low number notes (technically below a 1000 but some collect higher than that) and million numbered notes.  All sorts of serial number variations.  

One of the most taxing kind of collections is the prefix collector who collects every prefix of every denomination (or of one particular denomination).

So as you can see there's several ways to collect.  If you have a good set of $20 bird notes you might than want to get a nice set of the BIRD SERIES.  You will want to get the $10, $5 and $2 if you don't already have them.  Some collectors collect up to the $100 denomination but that's not necessary.  Fewer collect up to the $1000 note.  

You would be wise to go to your library and get a Charlton Paper money guide (18th edition) to give you an idea what collectors are seeking.  In it you will find all the different kinds of Canadian notes to collect.  The older notes are very beautiful (before 1935) and they just keep going up in value.  Its fine to have an UNC note of a regular prefix but its a lot nicer to have something a little special like the AIW you mentioned. With a Charlton in your hand you will come to understand that it isn't simply UNCIRCULATED notes that a collector wants:  That is something that is lost on a lot of collectors.

Here's a bit of free advice-- take it if you like.  I've been collecting for over 30 years and its been what I've been doing all along: and I read about it in a book called "Collecting paper money for fun and profit."  What I do is sell or trade notes that I have duplicates of.   Once I started collecting for a while I'd see a note that I knew was being sold at a very good price and pick it up regardless of whether I had it or not and sell it later for a profit.

I've been selling and trading my notes before there was eBay (as many of use "old timers" have been doing).  I've never regreted it ... since I usually trade/sell knowing full well what I'm getting and what I'm getting rid of.  I often traded up (got a note in better condition for one that was in lower condition and paid a little bit for it)

The point is: you should determine what kind of notes you want to acquire next, and trade or sell your extra AIW's and any duplicate notes you said you hoarded.   When I was your age I did the exact same thing: hoarded a bunch of notes and really didn't know what they were worth (there was no Charlton or Internet back then either!)  So I traded a lot of those notes (most of them were common but in decent enough shape to get a small premium) for older notes.  I didn't always fret about grade so long as the note was higher (EF and up) and showed well with no tears, ink spots, etc.  I also tried to trade and sell with collectors before dealers since I could get better deals that way.  Coin/paper money shows are a little better than walking into a coin shop because the dealers have competition & will go down a bit in price (usually).  

Coin shops dealers are flexible too.  They sell the the currency pages and holders you're asking about. If you establish a good rapport, they can be very helpful in getting you notes at a fair price. Talk to them like you want to know what they know (they have a lot of valuable info!)  When I was very young I used to talk like I knew a lot about what I was talking about.  Then when I got in my mid 20's I heard someone younger talking like I used to -- and it really annoyed me.  It made me realize that I had a lot to learn!  Going into a shop with a humble attitude goes a long ways!

You may want to try the "Trade & Sell" section of this site to post some of your excess notes to sell here.  Or you could try eBay.

Good luck in your hunt!

Oli1001
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« Reply #3 on: June 04, 2006, 11:38:59 pm »

Quote
Welcome to the CPM forum.  Always nice to see "new blood" joining the ranks of paper money collectors in Canada.

Stop preying on the newbies!  ;) Only kidding. In all honesty listen to this wise owl - I learned a lot listening to him. There are also a lot more individuals on these forums with a wealth of knowledge.

Anyways keunganator I also started off collecting notes that looked nice which I got from banks. Then I discovered this hobby. Though walktothewater is right, not every collector is looking for UNC, but if you have an unc more collectors want it! Plus you can sell it at a better price. Wait, why stop there? One should shoot for a GemUnc note!  ;D That's just my opinion and I'll fight it to the death!

Welcome to the forums, one tip....read, listen and keep reading the forums as well as anything else Canadian papermoney - that's the only way to learn.
walktothewater
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« Reply #4 on: June 05, 2006, 10:06:51 pm »

Quote
listen to this wise owl - I learned a lot listening to him

Thanks Oliver! I've been called a lot of things in my lifetime but "wise owl" is a new one :-/!

There are many CPMF members who contribute to this site -- who's wealth of knowledge is a lot more extensive than mine. I've only been collecting for 30 years -- and there's a lot of collectors who've been collecting a lot longer... or perhaps for a briefer period but in a more intense capacity.  I've been at it off and on... and have only gotten more serious about it in the past 3 years.  The dealers, and more serious collectors, the moderators on this forum, have a lot more inside info.  Remember "knowledge is power!"

As Oli says "keep reading," decide what you want to collect (or how to organize what you have) then perhaps sell a few notes, turn those profits into notes you seek, and so on.  Its fun really!

Enjoy!

And remember: there will be a lot of chat about the value of certain notes (take the "What its Worth" forum) but most collectors understand that note collecting is a long term commitment (unlike perhaps coins!) so that most notes you get will appreciate in value over the long haul.  Think of your collection as a "long term" investment.  

keunganator
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« Reply #5 on: June 05, 2006, 10:23:35 pm »

Hey everyone, thanks for the helpful advice, i really aprreciate it and am looking forward to contributing to this forum.
 

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