What Should A New Collector Be Looking For?

News: Welcome to the Canadian Paper Money Forum.

Hello All Felow Members:
I'm really new at the note collecting thing. I have about 50 different types of bills ranging from 1000.00 to the 1900 shinplasters. All I have collected was just trying to get one of every different types of notes that are with in my price range. I'm not sure if I made a smart move by buying the 1000.00 dollar note or not? I see lots of other smaller denomination bills with more potential to rise in profit rather then the thousand dollar bill that is 50 some years old and is not worth much more than face value. This is where I need all you experienced collectors to help get me on the correct trail and what I should be trying to purchase that has potential down the road to be a great investment?

I would appreciate any and all help or advice that anyone is willing to offer to send me down the correct trail so I may actually be making an investment?

To all members on this site: This is a great and very informative site that I wish I would have found prior to starting my collection. KEEP up the great work... Everyone!

Welcome to the forum. As a new collector, I was lucky enough to find this site before I got too far down the garden path. If you want investments, buy stocks, bonds, race horses or houses.

RADAR notes, replacement notes, insert notes, error notes (be careful here) Devil Face notes in higher grades, and or any BOC French notes tend to hold and increase in value. Collect what interests you and the investment potential will quickly become secondary. Getting one of everything is a great start. In doing so you will be buying investment notes i.e. French $25 bill. I'm sure you'll get more insightful answers from people that know far more than me in pretty short order though.
 

Tons of info here, so much that I find myself looking on the forum after I come back from the bank machine to look for inserts.

 

have about 50 different types of bills ranging from 1000.00 to the 1900 shinplasters. All I have collected was just trying to get one of every different types of notes that are with in my price range. I'm not sure if I made a smart move by buying the 1000.00 dollar note or not?

It is very common for a new collector to collect in a random fashion.  I agree with Hammer.. that you should focus on enjoying what you have/and the hobby.  You can enjoy the "garden path" by simply keeping abreast of what's going on, what's hot, and what's not.  A little info goes a long way, so it is prudent to tune into informative sites such as CPMF (newsletters, magazines, shows, etc).  Everyone here will have a different opinion about what to collect for investment's sake. 

I'm not sure if I made a smart move by buying the 1000.00 dollar note or not?

 
The simple fact that you are pondering the wisdom of this investment is telling in itself.  Now I know some collectors who'll swear by this high denomination (esp now that it is no longer printed), but personally I can see how that money can go into so many more rare, beautiful, and desired notes (even if they're not UNC!).  Incidently-- most of those collectors who love $1000's are very rich (don't need to work) and have extensive collections of every note you and I would drool upon.  They also have the 35 and 37 $1000 notes which are at least rare.

Just check the $1000 thread and see how many people contribute to it, or pick up a CCN (Canadian Coin News), or other publication and see all those $1000's at bargain prices.  And although the 54's mintage was relatively low compared to other denominations...they still aren't that rare ($1000 in high grade). That should also tell you something. 

I agree with Hammer's advice.  You may also want to look into some of the Journey (esp 2000-2001 first issue) $5 & $10's.  Most veteran collectors focus on either a particular series, a Special serial number type (radars, millions, or low numbered), inserts, or errors.   It helps to focus on a particular area.

But as a moderator once wrote to another member seeking advice on a similar vein-- read the Charlton, ask around, and discover the "garden" for yourself.  That's what makes this hobby rewarding. Good luck!

I like the two other responses.  Very well expressed. 

I'd like to add that (price aside) the emphasis be on the notes that give one the greatest pleasure to look at being ones guide.  I've found that personally, the 1937's have really grown on me, as I start to acquire them, whereas the multicolour series were my early favorites. 

I also find that condition of the note seems to be of gradually more importance to me (I'm certainly not going for all unc's, but EF seems to be as low as i like to go) as my collection shapes up. Another smart thing to do would be to use the Charlton guide for price advice, and even buy a few 2-5 year old Charlton guides to see where big gains have been made, price wise...