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National Currency Blog – When To Sell National Currency

7/17/2013

It has been almost four months since I have been able to get in a blog entry. So I thought I would take a few moments and update everyone on what has been going.

We have been to about twenty different states to both buy and sell national currency. I personally went to Colorado Springs during that time period to work on learning how to grade coins. I can now fully appreciate how lucky we are that paper money is especially easy to grade. We are of course talking about easy to grade in person. High end paper money can be very difficult to grade based on digital images alone. However, that is a story for another day.

The market for national currency has been pretty slow since March. We haven’t really had any amazing rarities show up in the past few months. That is actually pretty standard though. It is so easy to think about all the great national bank notes that have unexpectedly shown up in the past. Then you remember that you are thinking about a thirty year span and you can still only think of a dozen real show stoppers.

One of the talking points we have been hearing a lot is how will the drop in the price of gold and silver affect the collectible currency market. Over the past five years we have had two things driving the discovery of new national bank notes. The first driver was the economic/housing crisis. People who weren’t sellers in 2006 found themselves in positions in 2007-2009 where selling a bank note meant the difference in making the mortgage payment or not. So a lot of neat stuff was coming out then. The next period of discovery was 2010-2012. This was driven by the precious metals boom. People went to the ol’ safety deposit box to pull out some jewelry and maybe some gold coins. Lots of those people also happened up on a bank note or two and decided to investigate them as well. These sellers weren’t people who necessarily needed the money, but they found themselves in a position to get curious about what their currency was worth. Some of those people were pleasantly surprised and turned into sellers.

Now people want to know what the driver will be for the next three years. We think the answer is simple. We are breaking price records, both publically and privately, for what rare currency is selling for. The people who know what they have and have been waiting (maybe since the 1980s) for the right time to sell are now starting to dip their foot into the pool to check the water. They are finding that the water is quite warm. So we think the next wave of sellers will be the informed sellers who have been waiting on the sidelines for the right time. Now is likely the right time.

There is always going to be a stream of fresh notes coming from your regular sources like death, disease, divorce, and debt. However, it is always nice when there is another factor bringing things out of the woodwork. Headlines on major websites like yahoo tend to get people curious. We have had our fair share of news stories about two million dollar bank notes. Sadly, those stories relate to high denomination notes from the 1800s. You probably don’t have one of those hanging out in your safety deposit box. The very best national bank notes can bring five figures, and lots of notes sell for a few thousand dollars. So if you think you have something of interest, please don’t hesitate to ask us what it is worth. You might be surprised. Info@RareNationalCurrency.com