The Future of your Collection??

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In respect to all of the members collections:

What are your thoughts or feelings on what, when, why, or where your collections are going in the later years?  Do you have plans on collecting to a certain age at which you plan on selling them and maybe putting the money towards retirement or something along those lines?  Or are most of you passing on your great collections to a child or grandchildren?  Do you think that you should sell your collection off yourself seen is that you know the value of every bill you have, or as I have seen many times an estate selling off a collection without looking to deep to see what potentially the collection is worth?  I know it is hard to see that far ahead or even want to consider that aspect.  I know myself I'm the only one in my family or friends that has any interest in this hobby, therefore I would be inclined to sell off my collection when the time comes.  That also brings the thoughts that we have to encourage and assist new collectors all the time, that is what this hobby is all about,  I wish there were more programs for young people to help them get started on the road to collecting numismatic material. Without new hobbyists coming in I can not see the prices staying on the plus side of the line unless we get another age group coming up underneath us.  It is great to see a couple of young ones on the forum asking questions, so lets assist them newbies as much as we all can.  So to bring this to a close what are your thoughts or opinions on what is going to happen to all of your collections in the future??



        Jeff

I started to collect coins when I was young and then stopped for financial reasons. I picked it up again later in life, but started to get discouraged because of the grading system used. I personally felt it was to easy for dealers to over grade coins when selling and under grade when buying and it just seemed that I had no interest in only collecting mint coins which never go up in value or graded coins which always demanded top dollar.
About 10 years ago I slowly started to get into collecting Canadian banknotes.
I did this very, very slowly for about 2 years, went nuts searching bricks for errors (not knowing what inserts were lol) and then again for financial reasons stopped cold turkey.
Not until about 1 1/2 years ago did I start up again. Buying a little, and brick searching again. I joined the forum and found out a lot of interesting things that I never knew about and slow started to learn things from other members. My daughter who is 13 now always showed some interest, so many times we sit together when I get bricks, or get new notes and sort through them.
I try to explain what I am looking for and try to show her where in the catalogue she can find these notes.  To her it is still like a treasure hunt and she shows me every bill she gets to make sure if it is on my list.  You know the one we all keep in our wallets right next to the family photo LOL
Anyways, she is starting to drive my wife nuts so I guess that is a good sign..I have someone on my side for once.
Anyways, after all of this rambling .....at this time I collect because I love it, I am addicted to it.... unfortunately we only have so much disposable cash to get new notes or keep our little hoards, but as long as my daughter continues to be interested in the hobby my collection will go to her when the time comes...and if she strays off that path.......up for auction it goes and I'm off to Tahiti 

Without new hobbyists coming in I cannot see the prices staying on the plus side of the line unless we get another age group coming up underneath us.  It is great to see a couple of young ones on the forum asking questions, so lets assist them newbies as much as we all can.  So to bring this to a close what are your thoughts or opinions on what is going to happen to all of your collections in the future??

I well recall similar questions being asked in the early 1970's when I first got into world paper money collecting. People would pose questions such as "How can a Bank of Canada $25 1935 note in Unc ever go higher than $500?" That note is now valued  at $10,000+ and is still climbing higher. And, more recently, in 1994 I recall buying AU/Unc $5 1912 Train notes from large New York public auctions at $500 each (now $5,000 or so). Even humble Bank of Nova Scotia $10 1935 notes in Fine now cost about $100 whereas 10 or so years ago few people were interested in acquiring them at $20 each.

Within the next 10 years $25 1935 notes in Unc will probably be selling in the $30,000-$50,000 range and people will again be asking if prices can go any higher. Many price increases are, of course, due in part to general inflation effects, e.g., an entry-level autombile that cost $3000 in 1973 would cost at least $20,000 today. The numismatic market is so large and entrenched that only a major economic catastrophe would have any lasting impact, in my opinion. Also, the paper money market probably has more upward potential than the coin market as the paper money hobby is much more recent and is still in a formative stage of development. One must also bear in mind that many of today's buyers are heavily investment oriented and that many of these people have huge amounts of money seeking a good home. That is unlikely to change in the future because of "the rich get richer" phenomenon.

It goes without saying, of course, that notes that are common today will remain common for the foreseeable future. Conversely, notes that are unambiguously rare will always be in strong demand with the highest prices being reserved for the rarest notes in the choicest condition. The recent Heritage sale (No. 3500) provides adequate "proof" of this assertion.

I am going to keep collecting my paper money for a long long time...

I am going to keep collecting my paper money for a long time (since i am 14). The only 2 real reasons i started was because of an investment and because collecting coins started getting kind of confusing. But I do hope to keep my collection until i am anywhere from 55-60 years old then I will most likely just sell it off.

I am much of the same sentiment since I am the only one in my family who collects paper money, therefore anyone I left it to would probably just put it all up on eBay and take what they can get.  Coincidentally I was born in '71, so that has me a bit curious about a 14-year-old having a login name as 1971HemiCuda.

Anyway, at my age I wouldn't live long enough to see ordinary-issue notes of the Birds or Journey series appreciate too much.  I have therefore opted not to keep any Journey notes in my collection (even the so-called inserts, these are way too confusing), and the only Birds notes in my collection are the specimen notes and the "X" replacement notes.  I have pretty much all I want from the 1937, 1954, 1967 and multicoloured series, so any new acquisitions I make would be to upgrade the notes I have of the 1935 series, any Dominion notes I don't already have, and any error notes that catch my interest.

My log in name is 1971HemiCuda because that is my favourite year of the car made by Plymouth called the Barracuda

My log in name is 1971HemiCuda because that is my favourite year of the car made by Plymouth called the Barracuda

Oh. Well it's good to know that someone can appreciate something from the 70s.  Even though I was born in 1971 I have to say that I think the 70s had the ugliest and most repulsive clothing, hair styles, cars, music, shoes, furniture, appliances, colour schemes, jewellery, etc. etc.  Don't know why. The early 60s were OK, and the 80s were OK. But the late 60s and all of the 70s?! Some pretty fugly stuff during that era.  Except for the Multicoloured notes from the Bank of Canada, those were the best notes ever (except for the butt-ugly 1969 $20 note).

The kids and young collectors are our future.

PS: If it wasn't for collecting, there are many a dark roads I could have turned towards --  it was the special time I spent with my dad, when I was young, that always took me back to the positive environment, and the love in the family. 

I could have been bad as bad could be, but I had one more thing to remember how lucky I was to have a  dad (and mom) who loved me.  Our collecting time was one of those special dad-son activities (while mom went to some craft store probably lol).  Wanting to keep that positive reationship, it helped guide me towards positive decisions... even in the toughest of times.


Youth are the key.  Instill a love and passion for the hobby within them.

If it wasn't for collecting, there are many a dark roads I could have turned towards

Just for the record, I do believe we have photographic proof that one day you did stray down that dark road and ended up on a digusting sofa near a dumpster

I assume panhandling is considered ok since it is just a different way of "Collecting Coins and Notes"  for our collections....is it not

Except for the Multicoloured notes from the Bank of Canada, those were the best notes ever (except for the butt-ugly 1969 $20 note).

Nothin' wrong with the '69 version of the 20.  It was the '79 disco upgrade that is horrendous.

I’ve since made a slight change pertaining to the future of my collection. And as I said before it is a fun investment where I would eventually sell what I have as future needs arise. However there is a core of notes I wouldn’t sell and that are quite personal to me, these used to belong to my father before me. While most of my collection is expendable there is particular group is not rare or anything extraordinary but has sentimental value that I shared with him way back. I have already planned to first hand them down to my children, and if they are not interested then I’ll just have them buried with me.

Dei Gratia

Nothin' wrong with the '69 version of the 20.  It was the '79 disco upgrade that is horrendous.

THAT must explain why I prefer the '79 version.  Because I...like...AB...AB...*deep breath*...ABBA music   

No but seriously, I guess I prefer the '79 version cuz being born in 1971 that was the one I grew up with, but even still, the '69 version looks like someone puked up their spinach on it, at least the '79 version is more colourful.

And I actually DO like ABBA music, not all of it, but a lot of it.  But I don't like "Dancing Queen", I'm not THAT quaint! lol.

Punky I have to agree with you, I have a few 37s and 54s that my dad has give to me. I would never part with them regardless of the offer. They are no RARE notes or such but they are worth a great deal to me and me only, therefore I will hang on to those notes until the bitter end. Those are my most favourite notes in my entire collection, simply due to the fact of the sentimental aspect. I think that almost all collectors have a couple of notes that they feel the same about.


           Jeff

We are all gonna die someday
We don't have a future I'd say
I'm a bad girl
So I spend my notes today!

IOIOI I can get a free Bloody Mary for the best note with 6s at my Fav hangout IOIOI
IOIOI Well except those old Devil faces one anyway. Think happy thoughts PD.  IOIOI

Happy Dead Queen weekend

Well Raven...what kind of drink would this get me?

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