How to start a Money Collection

You have decided to start a money collection by collecting world banknotes but you dont know where to start , here are some tips for you . 

1- I believe that the first thing you should learn is the condition of the banknote. So if you would like start a banknote collection and to be a smart investor at the same time , just check the grading table for the banknotes which will just take 5 minutes at all . You can check it from our blog page easily . Grading of the banknote will tell you an idea about the value of the banknote you would like to add to your collection .

2- You should decide what kind of a collection you would like to make . If you still can not decide what to collect yet just start collecting with some banknotes you like and then you could focus on a theme .  Here are the most popular collection types for banknotes :

  Collecting a Single Banknote From Each Country in the world

  Collecting banknotes according to a theme ( Leaders , Birds , Trains , Queen Elizabeth II )

  Collecting Banknotes of a specific country beginning from the first banknote to the last banknote

  Collecting Banknotes in country sets like 5 10 20 50 100 Lira

  Collecting Banknotes with a special denomination like to collect only the 1 $ , 1€ or 1£ and others for all countries. 

  Collecting Banknotes in Bundles , some collectors with higher budgets are making a collection of bundle (100 Pieces of Same banknote)

There are also other types of collection but i just would like to tell you about the most preferred ones . Remember if there is a demand on something then the price raise inevitable.

3-  You should find a good and trustable dealer to add new banknotes to your collection . As you can not travel everywhere in the world you should be working with a dealer who offers you a great and different choices of banknotes. Don’t send any money to someone where you have no idea about them , because just like in every business there will be frauds, cheats vs vs …. 

4- Know your budget : It does not matter you are on a low or high budget but you should know how much you have spent on your collection . I suggest you to keep copies of invoices online on your mail or maybe you could just go for an easy excel table . Because as long as your collection grows and time goes on , maybe you would like to start trading some of your old banknotes where you will be having profit and adding other banknotes instead of that which you belive will be more valuable in the future.  So instead of going back 5 years and thinking how much the cost was , just check your notes. 

5- Store your banknotes in the proper way . The most important thing of the banknote is condition , lets say you buy a UNC  (Uncirculated Banknote) , you have to keep it as UNC , and it is very easy to do it with the folders , or maybe between your books in the very early beginning . When you reach to a better collection in quantity then you could put them in a folder.