I have read through some of the threads on what makes coins rare and wonder if your opinions are similar or different on banknotes. Some cases in point. When I was living in the USA it seemed that UNC banknotes of old Brazil are more plentiful than snowflakes in a blizzard. Actual circulated ones seem very rare. Now that I’m living in Thailand I find it very difficult to find old baht notes here. I know the Thai people like to keep them because of the king but does that make them rare here? It was easier finding them in the USA I thought.
I have a Bahamas $5 note in UNC condition. It catalogs over US$300 but is it really rare? I have never seen one for sale anywhere to know if that is a reasonable value. Your opinions please.
I would assume that it would be very similar to coins.
Number printed, number in the best condition still available and market values.
1. Banknotes, I assume are printed in their millions, so that would not make them rare.
2. The number of available high grade banknotes would deem a possible higher price, especially if this number was very low, but this is very difficult to quantify, when issue numbers are not released.
3. Should banknotes come up for auction, it depends on the number of collectors, who desire it. This then puts up the price, resulting in many more being offered, with sellers hoping to obtain this high price, but with the quantity available going up, the price will obviously drop.
I have never looked at rarity on the banknote situation, as there are far too many factors to consider.
If I need it, and it is, in my own opinion, worth the offered price, I will buy it. I suppose, this is why coin/banknote fairs are best, as you can negotiate downwards, especially if you are buy a quantity of different types.
It's a big question with an even bigger answer, no?
Everything COINMAN1 said sounds right, but I should add that the survival rate for many older banknote issues (read: before the turn of the 20th century for most countries) is far lower than it is for coins, due to paper's fragility compared to metal. So rarity criteria for banknotes are likely different from coins in that sense.
I think that another main factor influencing the availability of notes (and for that matter: also coins) is their face value.
Small denominations are much more likely to be 'forgotten' in cupboards, old wallets and jars with left-over holiday change. If coins or notes risk to be demonetized, people will 'cash' any high denomination in time. I know several people (non-collectors) who have kept 5, 10 or even 25 NLG notes as a memory to the guilder. I still need to meet the first non-collector who didn't change his 250 and 1000 NLG notes to Euro.
Quote: "ArnoV"I think that another main factor influencing the availability of notes (and for that matter: also coins) is their face value.
Small denominations are much more likely to be 'forgotten' in cupboards, old wallets and jars with left-over holiday change. If coins or notes risk to be demonetized, people will 'cash' any high denomination in time. I know several people (non-collectors) who have kept 5, 10 or even 25 NLG notes as a memory to the guilder. I still need to meet the first non-collector who didn't change his 250 and 1000 NLG notes to Euro.
I agree with this. I was reading recently that when India demonetized the 500 and 1000 rupee notes that 99% of outstanding notes were turned in. That sure reduced the available amount quite drastically. I'm glad I have one of the 500 rupee notes.
If Thailand decides to demonetize the King Rama 9 notes, I will have to decide whether or not to keep all the signature varieties I have on the 1000 baht notes.
I was just thinking about this the other day while looking at the few US star notes I've collected. I checked their approximate value and rarity and am strongly leaning towards just depositing them and buying some coins... but just can't seem to get to it.
Same thing with my $2.00 bills...
It is sooo much easier to keep demonetized coins and bills as it is so tempting to actually invest or spend the spendable money.
Quote: "Jasanche"
It is sooo much easier to keep demonetized coins and bills as it is so tempting to actually invest or spend the spendable money.
Thank god for the Eurozone!
When I was in the UK I would collect British banknotes up until ~1990, so I wouldn't be tempted to spend anything as you are right now.
Once a uncle who was in Dubai for his business brought me back a huge stack of contemporary UAE dirham notes... I've long since exchanged them all to buy coins.
Quote: "Jasanche"
It is sooo much easier to keep demonetized coins and bills as it is so tempting to actually invest or spend the spendable money.
I wrestle with this also. I often think that with banknote collectors being in smaller numbers than coin collectors and the state of the world economy that many contemporary notes right now could become even more scarce than some old notes if we don’t save them. Still with the signature varieties I have on 1000 baht notes if the Rama 9 notes get demonitized that’s like 3 months of rent for me. Tough decisions with some of these banknotes.
Anyone know of a quick easy link to find out the banknotes that are demonitized. I like how numista shows the coins that are demonitized. The only comprehensive information I can find on banknotes seem to come with a price unless you check with each country on an individual basis.
