Saturday, January 25, 2020

Currency Collecting Frequently Asked Questions (FAQs)

From: Sam N.
Sent: January 25, 2020
To: undisclosed recipients
Subject: Fw: I'd like you to research Currency Collecting


Thanks Sam for sending in the request to learn more about "Currency Collecting". ~Den

What are paper money collectors called?
A collector of paper money, coins, tokens, and related objects is called a numismatist. A collector of paper money is called a notaphilist.

What is the rarest paper money?
Gold certificates were used as paper currency in the USA between 1863 and 1933. They guaranteed the bearer the note's value in gold. The rarest specimens are worth a fortune – this 1882 $100 version, one of just seven, went under the hammer for $117,500 (£94k).

What does a Notaphilist collect?
A notaphilist is a collector of banknotes or paper money, particularly as a hobby.

Which country first used paper money?
The first country to print paper money was China. Paper currency was a natural progression of things to come, because of the Chinese block-printing. It started with the Tang Dynasty (618 A.D. - 907 A.D.) The paper currency was known as flying money.

Does paper money deteriorate?
Caring For Your Paper Money Collection. Paper money, especially older issues, should be considered fragile and treated accordingly. The proper handling and storage of paper money is not difficult, and will maintain the notes' natural condition (and value).

Who was the first to print money?
The first printed money was created in China during the Tang dynasty (600 AD to 900 AD). It started out as letters of credit. Fei Qian, or flying money, was issued under Emperor Xian Zong in the early 800s during a coin shortage, and represents the earliest form of paper money known.

Who invented money first?
No one knows for sure who first invented such money, but historians believe metal objects were first used as money as early as 5,000 B.C. Around 700 B.C., the Lydians became the first Western culture to make coins. Other countries and civilizations soon began to mint their own coins with specific values.

What country does not use paper money?
Norway, Sweden and Denmark Say “No” To Cash. Norway's largest bank DNB proposes to stop using cash as a means of payment in the country.

Is there a one million dollar bill?
The United States has never issued a million dollar bill. However, many businesses print million dollar bills for sale as novelties. Such bills do not assert that they are legal tender. The Secret Service has declared them legal to print or own and does not consider them counterfeit.

Are Susan B Anthony dollars worth anything?
As few Susan B. Anthony dollars circulated, many remain available in uncirculated condition and are worth little above face value. However, some date and mint mark varieties are relatively valuable. The 1981 coins, having been issued only to collectors, are valued above the other circulation strikes in the series.

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