Currency vs. Coin! Grade Difference Between a Morgan & Silver Certificate. #currency #banknotes

54 года назад

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This video is about pointing out a major difference in eye appeal between bank notes and coins for grade XF 40. Full disclaimer here. I’m just a paper currency collector. I’m not a currency expert and certainly not an expert grader. I barely know how to flip a coin. I’m just a collector that noticed a pretty large difference used to grade paper and coins.

COIN WORLD ARTICLE LINK:
https://www.coinworld.com/news/paper-money/are-star-notes-becoming-an-endangered-species

Is it called Paper Currency or Paper Money? Because it’s not paper at all. But I am a Paper Money Collector and like Paper Money Collecting as a Hobby. The Hobby is called Numismatics and if you collect you are a Numismatist. I also love History and work for a historical society and love collecting a Dollar or Dollars specifically the U.S. Dollar or is it the US Dollar? I have recently started collecting Obsolete Bank Notes or Obsolete Banknotes? Is Banknote one or two words? Bank Note or Banknote? Today’s currency is made by the Bureau of Engraving and Printing (BEP) and issued by the Federal Reserve Bank which issues Federal Reserve Notes that have a green seal and green serial numbers. At one point in time they issued large size banknotes called Federal Reserve Bank Notes. The Treasury Department used to issue Treasury Notes, Gold Certificates, Silver Certificates, and Legal Tender Notes, United States Notes and National Bank Notes. There were two sizes of U.S. currency. They were the Small Size Banknote, Small Size Bank note and the Large Size Banknote. Before 1996 they were called Small Head Banknotes, Small Head Bank Note and after that they were called Monochrome Bank Note and now the U.S. simply issues today’s bank notes known as colorized currency. There are many different ways to collect paper money. U.S. Federal notes that date back to 1861 and all of the different types of money that were issued by the United States. Break that down. You can collect by Banknote type, serial numbers, fancy serial numbers, National Bank Notes, Error money notes along with names of towns or people. The U.S. did not issue paper money until the first year of the U.S. Civil War in 1861. Before that there was Obsolete Banknotes. State-chartered banks and other private institutions provided the majority of currency known as obsolete notes that allowed the United States to grow from 1792 to 1866. This happened because the American government was unable to provide sufficient coinage to meet the nation’s economic needs. Since the Federal government refused to issue paper money, except in emergencies, and state governments were forbidden from doing so, banks and private institutions began producing their own paper currency to meet the needs of local commerce. Over 8,000 institutions issued paper currency during the period, providing a substitute for coinage. Unfortunately obsolete notes had several drawbacks: They were only as reliable as the institution that issued them; the huge number and variety of note designs and issuers encouraged counterfeiting; and as a result, the notes were only accepted close to their place of origin — so that they could be cashed in for “real” money if need be. The Civil War brought an end to the era of obsolete notes as a result of the Federal government’s need to create a stable national currency to pay for the war. World banknotes represent a tangible connection to history and culture around the world, offering numerous enjoyable opportunities for those who want to travel the globe through numismatics.

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