How to Buy Old Currency

Collecting old currency is a fascinating hobby.

Whether you view it as an investment or just an interesting hobby, collecting old currency can be very rewarding. From its historical significance to its attractive designs, these old notes and bills are truly fascinating. But as with any hobby or investment, you need to learn as much about the value of old currency as you can before you buy your first piece. Being an informed consumer will help you get the most for your money and the most from your new pastime.

Things You'll Need

• Currency value guide

Instructions

1. Decide what time period you want to focus on with your purchases. You can choose to focus on significant events in American history, like Civil-War-era currency or money from the Revolutionary War. You can also look abroad for interesting old currency from the Ming Dynasty in China or the time of the czars in Russia.

2. Visit local antiques dealers and currency dealers in your area. Some dealers have permanent shops, while others set up stands at local flea markets and antique fairs. Look closely at the currency the dealers have to offer, ask plenty of questions and learn as much as you can. Purchase some currency if you wish, but mainly use these shopping trips as learning opportunities.

3. Check out the website of the American Numismatic Association for more information on collecting old currency. The American Numismatic Association is a not-for-profit organization dedicated to the coin and currency collecting hobby.

4. Find local coin and currency shows in your area, both by checking the American Numismatic Association's website and by watching your local paper. Attend as many shows as you can--this can help you learn about the hobby and gauge the value of those old notes and bills.

5. Attend estate auctions in your area as well. Estate auctions can be excellent places to find antiques, collectibles and old currency. Look at the auction listing carefully for information on any old currency included in the sale.

6. Shop at online auction sites like eBay, both to buy old currency and to get an idea of its value. You can use the completed auctions on eBay to determine the fair market value of the currency you find at shows and in dealer shops. Knowing the true market value of the currency you want to buy gives you some negotiating power as well.

References

• American Numismatic Association