Currency is paper money. Most countries use some sort of paper money as a medium of exchange. When a series of notes goes out of circulation and is replaced with something new, the old becomes collectible. There are centuries’ worth of collectible currency.
There are so many types of currency that in the collector's market, they have been categorized to handle the sheer number of collectible currency. There may be more “dated” categories, breaking it down to an even finer listing. Local dealers may use their own categories for their own purposes and customers but the following is a standard list found throughout the industry:
• Large size
• Small size
• US large and small
• Confederate note
• National bank notes
• Fractional currency
• War of 1812
• Military payment certificates
• World currency
The term “reproduction” is a nice word for fake or counterfeit. For currency from the Colonial times, many reproductions were non-fraudulent acts and were made as marketing give-a-ways. These are commonly found in ancestors’ belongings. More current reproductions are produced for counterfeit purposes as a criminal act.
There is a list of known US reproductions available to the collector. It has been comprised over the years using serial numbers. Using the serial number on your note and the reference guide, simply look for a serial number match. If it is on the list then you know it is a reproduction and has no collector value.
Currency manufacturing uses systems for design protection and counterfeiting. They use serial numbers, ink color, paper size and other markings to authenticate paper money. Collectors can use reference guides to help determine if their currency is authentic.
There are quick reference guides to currency values available on-line. Collectors can use the same reference materials an appraiser uses. Contact Yonce's Coins, LLC in Roanoke, VA for any questions about collectible currency.